Geely Holding Group has announced a significant investment in NIO Power, acquiring a 30% ownership stake through a combination of equity contributions and cash. The transaction involves Geely transferring its 100% stake in Yiyi Power, a subsidiary operating battery swapping services for commercial vehicles, along with 640 million RMB in cash to NIO Power.
The strategic partnership encompasses multiple dimensions of the electric vehicle infrastructure sector. Under the agreement, Geely’s Yiyi Power commercial battery swapping operations will be integrated into NIO Power’s existing network. The two companies plan to jointly develop unified battery swapping technologies and standards, with Geely developing consumer-focused battery-swappable vehicle models while NIO Power provides the corresponding swapping services.
The collaboration extends beyond battery swapping to include charging infrastructure. NIO will take a 10% equity stake in Haohan Energy, a Geely subsidiary focused on smart charging. Both parties have committed to fully connecting their charging networks and jointly expanding coverage to improve operational efficiency across their combined infrastructure.
Geely’s CEO emphasized the partnership reflects a broader industry vision centered on resilience, efficiency, and collaboration. He characterized recharging networks as public infrastructure that should be shared openly and connected across different operators, ultimately benefiting consumers through seamless mobility solutions.
The investment represents a substantial endorsement of battery swapping technology, which has experienced mixed historical adoption in the EV sector. Industry analysts note that Geely’s participation could accelerate scaling of battery swapping infrastructure and potentially reduce operational costs while raising consumer awareness of the technology as a complementary option alongside conventional charging solutions.
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