NIO, Geely Strike Charging & Battery Swap Alliance(Sep 28)

NIO and Geely Holdings Reach Comprehensive Strategic Cooperation in Charging and Battery Swap

On September 28, 2026, NIO and Geely Holding Group reached a comprehensive strategic cooperation in the charging and battery swap sector. The two parties reached consensus on all-around cooperation in technology, operations, and capital, and will jointly invest in both parties' charging and battery swap business entities, share charging and battery swap technologies and standards, co-build charging and battery swap service networks, and jointly explore a new paradigm of open collaboration and win-win cooperation in China's automotive industry.

According to the agreement, Geely Holding Group will invest in NIO Energy with 100% equity of its Yi Yi Interconnected (YiYi) business plus 640 million yuan in cash. Upon completion of the transaction, Geely Holding Group will hold 30% equity in NIO Energy. YiYi's commercial vehicle battery swap business will be merged into NIO Energy, which will continue to enhance the operation of the commercial vehicle battery swap network and empower YiYi's commercial vehicle business. The two parties will jointly build unified consumer-side battery swap technology and standards; Geely Holding Group will develop consumer-facing battery swap models, and NIO Energy will provide services for Geely's consumer-side battery swap vehicles.

This cooperation will further accelerate NIO's battery swap network construction. NIO Energy plans to build a total of 10,000 battery swap stations by 2030. By then, the annual electricity demand of NIO's battery swap network is expected to exceed 10 billion kWh, and the commercial and social value of battery swap stations as a new type of energy infrastructure will become increasingly prominent.

In the smart charging field, NIO will invest in Geely Holding Group's Haohan Energy. Upon completion of the transaction, NIO will hold 10% equity in Haohan Energy. The two parties' charging resources will be fully interconnected to jointly improve the coverage and operational efficiency of the charging network. By the end of 2027, Geely plans to build over 22,000 charging stations with over 100,000 charging guns, including over 15,000 Geely Smart Charging stations and over 50,000 smart charging guns.

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