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Huawei’s car unit joins CATL’s 2,520-station battery swap network

Huawei’s smart car business is signing on to CATL’s battery swap network, giving the world’s largest battery maker another heavyweight partner for a technology most of the industry wrote off a decade ago.

Yinwang, the Huawei-controlled automotive unit also known as Newcool, signed a strategic cooperation framework with CATL and its swap subsidiary CAES on Monday. CATL’s Choco-swap network already counts 2,520 stations across about 200 Chinese cities.

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E-quipment highlight: AMT’s hot-swapping battery electric rail excavator

Rarely seen by the general public, rail road excavators are a critical piece of the infrastructure puzzle – one that can travel directly on the tracks while digging, lifting, and clearing obstacles from the track, working on everything from track maintenance and renewal to utility and civil construction projects. This one’s electric.

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NIO sells 30% of battery swap unit to Geely at more than $2 billion

Geely is buying into NIO’s battery swap network. NIO announced definitive agreements on Sunday that hand a Geely Holding subsidiary 30% of NIO Power, the unit running its swap stations and chargers, at a post-money valuation of about RMB16 billion ($2.4 billion).

Most of what Geely is paying isn’t cash. It’s contributing its own commercial battery swap business plus RMB640 million ($94 million), while NIO takes 10% of Geely’s charging arm in a parallel deal.

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