Geely Holding Group and Nio have entered a strategic partnership to integrate their charging networks and battery-swapping stations. As part of the agreement, Geely will acquire a 30% stake in Nio Power by transferring its Yiyi Power unit and investing an additional ¥640 million, equivalent to $94.1 million. The commercial vehicle battery-swapping operations of Yiyi Power will be integrated into Nio Power.
Nio will acquire a 10% stake in Geely's charging division, Haohan Power. The companies aim to ensure full interoperability between their charging resources to expand access for users. Furthermore, the partners plan to establish a unified battery-swapping standard for passenger electric vehicles, with Geely committing to produce new models compatible with this shared infrastructure.
Nio Energy aims to expand its network to 10 000 battery-swapping stations by 2030. The company estimates that the annual electricity consumption of this expanded network will exceed 10 billion kWh.
