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$NIO JUMPS OVERNIGHT ON $2.4B BATTERY SWAP DEAL WITH GEELY 🔹 U.S. shares up about 4% on the Nio Power tie-up 🔹 Deal values Nio Power at 16B yuan, or $2.4B 🔹 Geely gets 30% via its commercial fleet swap business plus 640M yuan cash 🔹 Nio China keeps control at 63.6%, Geely can later go to 34% 🔹 Nio takes 10% of Geely’s Haohan Energy, which buys some Nio charging assets 🔹 Stock still down 13% in September and on track for a 5th straight losing month Partnership is real. Chart still looks like a five-week beating looking for a bounce, not a new trend.