Nio BaaS

"This matter is not a newly occurring incident, nor is it directed at Nio's recent operational performance," Nio said in a response shared with CnEVPost.

As of press time, Nio had fallen 12.21 percent to HK$47.54 per share, poised for its biggest single-day drop since April 7.

The catalyst for GIC's lawsuit against Nio was a short-selling report released in June 2022, which has since been refuted.

Under the BaaS plan, the monthly rental fee for the 60-kWh battery pack is RMB 599 ($83), a 33.37 percent reduction from that of the 85-kWh battery pack.

The delivery wait time for the Onvo L90 has doubled, and the wait time for the L60 has also been slightly extended.

Mirattery said one of its founding shareholders, Hubei Science Technology Investment, has increased bet in its Series C round of financing.

Mirattery said that the strategic partnership covers equity investment, battery rental service operations and user services, and the joint construction of battery swap networks.

This is one of Onvo's latest efforts to optimize the car using experience following a change in its management.

CATL will increase its bet on Mirattery, in addition to advancing its investment in Nio Power, according to local media.

Mirattery saw the size of its battery assets under management grow from 0 to 10 GWh in 44 months, and from 10 GWh to 20 GWh in just nine months, the company said.