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Geely will take a 30% stake in NIO Power in a deal that values the unit at about 16 billion yuan. NIO will take a 10% stake in Geely's Haohan Energy and the companies plan to co-develop swapping standards and vehicle models.
Chinese electric vehicle maker NIO NYSE:NIO said on Monday it entered into definitive agreements with subsidiaries of Zhejiang Geely Holding Group in connection with a transaction involving their battery-swapping and charging businesses.Under the deal, a Geely subsidiary will invest 640 million yua…