NIO inks battery-swapping deal with Geely, values energy unit at $2.4 billion
Geely will invest 640 million yuan and contribute its swapping unit as the companies seek shared standards and broader deployment.
- On Monday, NIO and Geely Holding Group announced a strategic partnership to integrate their charging and battery-swapping infrastructure, aiming to move toward industry-wide standardization in China.
- Valued at about 16 billion yuan , the cross-shareholding agreement gives Geely Holding Group a 30% stake in NIO Power, while NIO secures a 10% interest in Geely's charging subsidiary, Haohan Power.
- Geely will contribute its commercial battery-swapping subsidiary, Yiyi Power, plus 640 million yuan in cash to NIO Power. Yiyi Power operates approximately 470 swapping stations, primarily serving commercial fleets.
- Post-Transaction, NIO Holdings will maintain a controlling 63.6% equity interest in NIO Power. Geely Holding Group will hold 30%, with existing investor Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership retaining 6.4%.
- Both companies have "preliminary plans" to develop new vehicle models compatible with shared swapping standards. Geely aims to deploy over 22,000 charging stations by the end of 2027 across China.
57 Articles
57 Articles
Geely Gets 30% of NIO Power - CleanTechnica
Support CleanTechnica's work through a Substack subscription, on Patreon, or on Stripe. Help us produce all of the high-quality, original content we publish week after week despite the challenges of content-scraping AI, antisocial media, inflation, and other hurdles. Battery swapping has been a concept for electric vehicles for much longer ...
NIO and Geely Partner to Build Ultra-Fast EV Battery Swap Stations
Battery swapping has regained momentum as NIO and Geely partner to build automated stations that replace EV batteries in under three minutes. Combining NIO’s operational expertise with Geely’s manufacturing scale, the collaboration aims to overcome charging delays, improve fleet utilization, and support standardized, swappable battery systems across multiple brands.
Nio sells 30% of its battery swapping arm to Geely
Nio has agreed to sell a 30% stake in its battery swapping business, Nio Power, to Zhejiang Geely Holding Group, the company said on Monday. The two Chinese carmakers will also share technology and standards and build a joint service network. Geely Holding will pay with its whole battery swapping unit, Yiyi Power, plus 640 […] This story continues at The Next Web
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
