Nio launches Battery-as-a-Service (BaaS) with CATL.

To implement the Battery-as-a-Service offer, Nio, together with CATL and two other partners, has founded the Battery Asset Company. The four participating companies will hold 25 per cent each with an investment of 200 million yuan. The new company will buy the batteries and lease them through the BaaS business model with CATL supplying the cells.

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