Nio Slides 4% as Geely Takes 30% Stake in Nio Power Unit; XPeng Drops 4%, Tesla Slips

Chinese electric-vehicle maker Nio (NYSE:NIO) signed a partnership that extends its battery-swap reach, yet the news is weighing on Nio shares. Nio stock is down 4% to $3.43, a reaction to a deal that changes ownership of the company’s most distinctive asset. In the agreement Nio announced, Geely Holding Group receives a 30% stake in […]