A Nio battery-swapping station. Credit: Nio Understand China EV’s Market Real-time notifications when critical EV data is released All important data in one place 2,000,000+ data points Become a member Geely Holding Group and Nio announced a comprehensive strategic partnership on September 28, 2026, aimed at integrating their charging and battery-swapping infrastructure. Under the terms of the agreement, the two automotive giants will engage in cross-shareholding to align their energy business interests: Nio Power: Geely Holding Group will acquire a 30% stake in Nio Power. This investment comprises 100% equity of Geely’s battery-swapping arm, Yiyi Power, and a cash injection of 640 million yuan (94.1 million USD). As part of the deal, Yiyi Power’s battery-swapping operations for commercial vehicles will be consolidated into Nio Power. Haohan Energy: Nio will acquire a 10% stake in Geely’s charging subsidiary, Haohan Power. Following this transaction, the companies will achieve full interconnection of their respective charging resources. A battery-swapping station by Geely’s Yiyi Power. The partnership aims to move battery swapping beyond single-brand exclusivity toward industry-wide standardisation, as reported by Economy Observer. The companies have committed to: Joint development: Collaborating on battery-swapping technology and standards tailored for individual consumer vehicles. Vehicle integration: Geely will develop new EV models compatible with these shared swapping standards, while Nio Power will provide the supporting service infrastructure. Scaling: Nio Energy has set a target to reach a cumulative total of 10,000 battery-swapping stations by 2030, with an estimated annual electricity demand exceeding 10 billion kWh. Expanding the charging network The cooperation also addresses the rapid expansion of charging infrastructure. Geely plans to deploy over 22,000 charging stations and 100,000 charging piles by the end of 2027, aiming for comprehensive coverage across all county-level cities in China. For a long time, there have been rumours of a battery-swapping partnership between Geely and Nio, and now the matter has finally been settled. In fact, Geely was already involved in battery swapping: its Yiyi Power operates around 470 battery-swapping stations in China, mainly serving taxis and ride-hailing vehicles. Most important news in your inbox. Recaps · scheduled All you need, in one email. Instant alerts · real-time Ping me when an article goes live. 0 of 27 topics selected Bundle into one email per day — instead of one email per article No spam · Unsubscribe with one click · Change settings anytime