Mirattery

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.

Mirattery has contracted with several companies, including JAC's Sehol brand and Geely-backed Soland Technology, to provide technical services or build joint labs.

Edison Yu's team explains perfectly what Weineng is, why it was formed and how it relates to Nio.

The move comes after Mirattery secured tens of millions of dollars in financing through an ABN offering in April, marking the establishment of its direct access to financing in the exchange and interbank markets.

This allows Mirattery to establish a direct financing channel in the Chinese interbank market, providing a boost to the further development of its BaaS service system, it said.

The first phase of the institute will be over 8,000 square meters in size and is expected to be completed and operational this year.