NIO shares fell about 6% on Tuesday after touching a 52-week low of $3.48 and closing near $3.40, as investors assessed Geely’s agreement to acquire a 30% stake in NIO Power. Geely will provide approximately RMB640 million ($95 million) in cash and assets, including its Yiyi Power charging operations, valuing NIO Power at about RMB16 billion ($2.4 billion). NIO China will retain a controlling 63.6% stake, while Geely’s interest could rise to 34% or fall to 20% depending on performance. The stock’s decline came despite August deliveries rising 14.5% year over year to 35,836 vehicles and first-eight-month deliveries reaching 262,893, up 57.9%. Second-quarter revenue increased 69.1% to RMB32.1 billion ($4.74 billion), and adjusted net profit reached RMB26.1 million for a third consecutive adjusted profitable quarter. NIO guided for 108,000 to 111,000 third-quarter deliveries and aims to average more than 40,000 monthly deliveries in the fourth quarter. Analysts have a consensus Hold rating and a $5.87 price target.