Mirattery

"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.

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.

Nio is in talks with a potential buyer to sell a stake in a key asset, Chinese tech media outlet LatePost reported.

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.

Mirattery, Nio's battery asset operator with more than 10 GWh of battery assets under management, has entered into a strategic partnership with Newrizon, a Nio Capital-backed company.

Of that 10 GWh of battery assets, they contain more than 17,000 tons of nickel, more than 6,300 tons of cobalt and more than 5,700 tons of lithium.