Nio and Geely Holding Group have signed a wide-ranging strategic agreement covering battery swapping and charging, according to Chinese outlet Sina Auto. The deal unites the two companies' technology, operations and capital, and will see them jointly invest in their respective charging and swapping businesses, share standards, and build a combined service network.
Under the agreement, Geely will inject its wholly owned Yiyi Interconnect (Yiyi Hulian) unit plus 640 million yuan (about $90.1 million) in cash into Nio Energy. When the transaction closes, Geely will hold 30% of Nio Energy, and Yiyi's battery-swap business for commercial and ride-hailing vehicles will be folded into Nio Energy. Nio Energy will keep operating and improving that commercial swap network, the companies said.
One standard for consumer swap cars
The two partners said they will jointly develop a unified battery-swap technology and standard for the consumer (C-end) market. Geely will develop C-end models with swap capability, and Nio Energy will provide the swap services for those vehicles. The move is the clearest sign yet that Nio's swap infrastructure, long a differentiator for its own brand, is opening up to other automakers.
The partnership also accelerates Nio's network expansion. Nio Energy plans to have 10,000 swap stations built cumulatively by 2030, at which point it expects the network's annual electricity demand to exceed 10 billion kWh. The company framed the stations as a new type of energy infrastructure whose commercial and social value will keep growing.
Charging networks interconnect
On the charging side, Nio will take a 10% stake in Geely's Haohan Energy (Haohan Nengyuan). The two sides' charging resources will be fully interconnected, sharing coverage and operating efficiency. Geely plans to have more than 22,000 charging stations and over 100,000 charging guns by the end of 2027, including more than 15,000 Geely smart-charging stations and over 50,000 smart charging guns, with coverage of all county-level cities in China.
The deal is a major consolidation in China's battery-swap sector, where Nio has built the largest network among passenger-car makers. By bringing Geely's commercial-vehicle swap business under Nio Energy and aligning on a common C-end standard, the two groups are effectively creating a shared national swap infrastructure that other brands could potentially join. Financial details beyond the stake structure were not disclosed.
