Greenwing
Nio enters race for lithium with Australian investment
The electric vehicle maker will pay $7.7 million up front and up to $80 million more for a stake in an Argentine mining project in its tie-up with Greenwing Resources.
Nio says deal with lithium firm Greenwing aims to secure long-term competitiveness
In the first half of this year there were industry sources saying that Nio was intensively researching lithium mines and that the company was particularly interested in salt lakes in South America, according to local media.
Nio takes stake in Australian lithium firm Greenwing, sending latter's share price soaring over 60%
Nio, through its wholly owned subsidiary Blue Northstar Limited, has agreed to pay A$12 million to Greenwing in a strategic financing deal.