On March 18, 2025, Hong Kong stocks extend gains in afternoon. The Hang Seng Index (HSI) rose by 2.17%, the Hang Seng Tech Index (HSTECH) surged by 3.39%.

Baidu rose 12%; NIO up 8%; Li Auto and Alibaba rose over 5%.

Chinese electric vehicle maker Nio 9866.HK announced its partnership with CATL 300750.SZ to establish a battery swapping network for cars.

CATL will support Nio in developing the battery swapping network while the battery giant's Choco-Swap technical standards and network will be introduced to Firefly-branded newly developed models, according to a company statement sent to Reuters on Tuesday.

The two companies will also pursue capital cooperation, with CATL advancing an investment capped at 2.5 billion yuan ($345.6 million) in Nio Power.