🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Nio explores technology partnership with Mercedes

EditorAmbhini Aishwarya
Published 28/09/2023, 13:42
© Reuters

Reuters reported Thursday morning, citing unnamed sources, that Chinese electric automaker, Nio (NYSE:NIO) has held exploratory talks with Mercedes-Benz (ETR:MBGn) for a potential agreement that would see the German luxury carmaker invest in Nio in exchange for technology.

According to the sources, Nio CEO, William Li, spoke earlier this year with Mercedes CEO, Ola Kaellenius, exploring the possibility of a collaboration. In these talks, Nio proposed that Mercedes make an investment in exchange for access to Nio's research and development expertise.

One of the insiders revealed that Nio initiated the talks with Mercedes. However, there is apparently internal resistance within the German company, which has been deliberating the proposal in recent weeks. It is increasingly likely that the collaboration will not move forward.

Nio has denied the talks, calling them "untrue", without elaborating. Mercedes has also denied the rumors, saying that there were no collaboration plans with Nio.

Shares of NIO are up 0.89% in premarket trading Thursday morning.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.