Li Bin (William Li)

Money Moves

Leading the deal to sell 30% of NIO Power to Geely

Geely Holding Group is buying 30% of NIO Power, the battery-swapping unit of rival EV maker NIO. The deal values the unit at about 16 billion yuan ($2.4 billion).

Updated Sep 28

Money Moves

Leading Nio toward first full-year profitability in 2026

Nio burned through more than 100 billion yuan over a decade and came within weeks of insolvency in 2019, surviving only after a government rescue. In the fourth quarter of 2025, the company posted its first-ever quarterly net profit: 282.7 million yuan, or roughly $40 million, on record deliveries of nearly 125,000 vehicles.

Updated May 30