NIO and Geely Holding Group have officially entered into a comprehensive strategic partnership focused on battery swapping and charging infrastructure. The collaboration spans technology, operations, and capital, with both parties agreeing to co-invest in their respective energy business entities, share technical standards, and jointly expand their service networks.
Under the terms of the agreement, Geely Holding Group will acquire a 30% stake in NIO Energy. This investment includes the transfer of 100% equity in Geely’s battery-swapping subsidiary, E-E Connect, alongside a cash injection of 640 million yuan (approximately $91 million USD). Following the transaction, E-E Connect’s battery-swapping operations for commercial vehicles will be integrated into NIO Energy. NIO will continue to optimize the network for these commercial fleets while empowering E-E Connect’s business operations.
Furthermore, the two companies will collaborate to establish unified battery-swapping standards for consumer vehicles. Geely plans to develop new models compatible with this swapping ecosystem, which NIO Energy will support. This partnership is expected to significantly accelerate the expansion of NIO’s infrastructure, with the company setting an ambitious goal to reach 10,000 operational battery-swapping stations by 2030. By that time, the network is projected to handle an annual power demand exceeding 10 billion kWh.
In the realm of smart charging, NIO will acquire a 10% stake in Geely’s subsidiary, Haohan Energy. This move will enable full interoperability between their charging resources, enhancing network coverage and operational efficiency. By the end of 2027, Geely aims to have deployed over 22,000 charging stations and 100,000 charging piles, including 15,000 “Smart Charging” stations, aiming for comprehensive coverage across all county-level cities in China.