What's Going On With NIO Stock Today? - NIO (NYSE:NIO)

NIO Inc shares are seeing positive movement in premarket trading on Tuesday.

In a significant development, NIO has partnered with Contemporary Amperex Technology Co., Ltd (CATL) to accelerate growth in the new energy vehicle market.

On Monday, both companies announced a strategic collaboration aimed at creating a comprehensive battery swapping network for passenger vehicles. This partnership will focus on optimizing industry standards and enhancing recharging solutions.

The signing ceremony featured William Li, NIO's founder and CEO, along with Dr. Robin Zeng, chairman and CEO of CATL, marking an important step in their joint venture.

NIO has already established a notable presence with over 3,000 Power Swap Stations across China and has plans to expand this network further by 2025 into more cities and county-level regions.

In March 2024, NIO and CATL agreed to collaborate on research and development for long-life batteries to promote innovation.

Li emphasized the significance of the cooperation, stating that it represents a turning point, moving battery swapping into a new phase.

CATL's investment of approximately RMB 2.5 billion (around $346 million) in NIO Power is intended to fortify their strategic alliance. This investment will support NIO in expanding its battery-swapping infrastructure and aid in developing national standards for battery-swapping technology in China, enhancing compatibility across various brands.

Zeng added, "Utilizing our Choco-Swap technology along with the simultaneous functioning of both CATL and NIO networks, we can build a smart power network that meets diverse needs at multiple levels. This will enable batteries to offer greater value throughout their lifecycle, thus providing safer, more efficient, and sustainable electric mobility solutions on a global scale."

NIO is scheduled to release its fourth-quarter results on Friday, March 21, 2025, prior to the U.S. market opening.

Price Action: As of the last check on Tuesday, NIO shares had increased by 5.77%, trading at $5.32 in premarket.

NIO, CATL, stocks