Nio Stock Falls as State Partners Take Wuhan Swap-Station Assets and Scale Network
Nio’s U.S.-listed shares slipped 2% to $4.54, extending weekly declines, as the company expanded a state-backed ownership model for battery-swap stations. State-owned partners now hold all Wuhan swap-station assets controlled by Nio Power, while Nio operates them and supplies technology. About 450 stations are expected to open in Q4 as Nio grows a network of 4,017 swap stations and 5,181 chargers amid intensifying competition from CATL.