Nio Power In Deal Talks With Tesla Battery Supplier CATL

Chinese battery giant Contemporary Amperex Technology, or CATL, discussed acquiring a controlling stake in electric vehicle maker Nio Inc‘s NIO power unit.

Nio Power provides charging and battery swapping services to Nio drivers, Tesla Inc TSLA.

The Chinese EV maker’s power unit runs over 3,000 battery swapping stations in China, Reuters reported, citing sources.

Also Read: Alibaba, BMW Team Up To Bring AI-Powered Smart Assistant In Next-Gen China Cars

Benzinga reached out to Nio for its comments on the report.

CATL announced in March that it would invest up to 2.5 billion yuan ($342 million) in the unit Nio Power.

The Chinese EV battery company is ramping up investments in battery-swapping facilities to replace a third of gas stations in China. However, the investments have hampered its profitability.

CATL tapped Baidu Inc BIDU to develop driverless EVs with battery-swapping tech in February.

Meanwhile, Nio announced it delivered 15,039 vehicles in March 2025, up 26.7%. The deliveries comprised 10,219 vehicles from its premium smart electric vehicle brand NIO and 4,820 from the company’s family-oriented smart electric vehicle brand ONVO. The company delivered 42,094 vehicles in the first quarter of 2025, up 40.1%. The company’s cumulative deliveries reached 713,658 as of March 31, 2025.

According to CIC, the global autonomous driving market could grow at an 80% compound annual growth rate from $93 billion in 2025 to $1.745 trillion by 2030. The market could grow at 85% CAGR for China, reaching $639 billion by 2030.

Price Action: NIO stock is down 6.93% at $3.22 in premarket at last check Monday.

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