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CATL in Talks to Take Over Nio Power’s Battery-Swapping Network.
According to Reuters, citing sources familiar with the situation, CATL, a top Chinese battery manufacturer, is currently negotiating to acquire a majority stake in Nio Power, the subsidiary of electric vehicle maker Nio that manages its widespread battery-swapping infrastructure. This move comes on the heels of CATL's March announcement, where the company revealed plans to potentially invest up to 2.5 billion yuan (approximately $342 million USD) in Nio Power.
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