Nio, Geely form charging, battery-swapping partnership; Geely to take 30% stake in Nio Power
NIO•Nio and Geely formed a strategic partnership to invest in charging infrastructure and battery swapping in China. Geely will take a 30% stake in Nio Power plus RMB 640 million, while Nio will buy 10% of Geely’s Haohan Energy.
1. Partnership details
Geely will take a 30% stake in Nio Power through its Yiyi Power unit and contribute RMB 640 million in cash. Yiyi Power’s commercial battery-swapping business will be folded into Nio Power, expanding fleet-focused swapping operations. The companies will co-develop battery-swap technology and standards for consumer models, and link their charging networks; Nio Power will provide swapping services.
