NIO Stock Rallies After Geely Takes 30% Stake in $2.4 Billion Unit
NIO (NIO) shares climbed about 3% on early Monday as Zhejiang Geely Holding Group agreed to buy a 30% interest in the electric-vehicle maker's battery-swapping unit at a valuation of roughly $2.4 billion.Under the transaction, Geely will add its commercial-vehicle battery-swapping operations to the…