Nio's William Li casts Geely tie-up as effort to curb cutthroat competition through shared infrastructure

CnEVPost09-28 10:13

Nio founder, chairman and CEO William Li speaks at the signing ceremony for the company's charging and battery swap partnership with Geely on September 28, 2026. Credit: Nio Li said the partnership ...

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Credit: Nio\n\n\nLi said the partnership between Geely and Nio can help reduce duplicate investment and improve innovation efficiency.\nHe described the collaboration as an open platform for the industry and welcomes more peers to join.\n\n\nNio Inc (NYSE: NIO) founder, chairman and CEO William Li said the partnership with Geely Holding Group is part of the companies' response to China's campaign to curb cutthroat competition.\nSpeaking at a signing ceremony in Hangzhou, Zhejiang province, on Monday, Li said the partnership would connect the charging and battery swap resources accumulated by both companies. He described it as an effort by Chinese automakers to reduce duplicate investment and improve innovation efficiency.\nWith support from Geely's resources, Nio Power will accelerate the expansion of its battery swap network, he said, adding that this would strengthen its confidence in reaching its target of 10,000 swap stations by 2030.\n\n\nJoin us on \nTelegram\n or \nGoogle News\n\n\nHis remarks offered a more detailed strategic rationale for the equity investments and business cooperation announced earlier in the day: expanding access to shared infrastructure by integrating technology, standards, operations, assets and capital.\nUnder the agreement, Geely will acquire a 30% stake in Nio Power in exchange for its entire equity interest in battery swap business Yiyi Power and 640 million yuan ($94.8 million) in cash. Nio China will acquire a 10% stake in Geely's Haohan Energy.\nThe companies also plan to jointly develop battery swap technologies and standards for consumer vehicles and expand connectivity between their charging networks.\nLi said sustained innovation had driven rapid growth in China's EV industry over the past 10 years. The next phase would require both stronger innovation capabilities and greater efficiency in innovation, he said.\n\"How to coordinate industry efforts, reduce duplicate investment, and jointly build, share and connect resources for innovation is a key issue for the next phase of high-quality development in China's auto industry,\" he said.\nLi described the partnership as a concrete step toward curbing cutthroat competition and improving the allocation of industry resources. An open, collaborative industry ecosystem is crucial to the next stage of development for China's auto sector, he said.\nNio has invested more than 20 billion yuan in charging and battery swapping over the past 11 years, with more than 2,100 related patent applications and grants, according to Li. It has built 9,433 charging and swap stations in China and provided more than 220 million charging and swap services.\nThat includes 4,126 battery swap stations, which have provided more than 125 million swaps. Li said the network had achieved substantial network effects, becoming a core competitive advantage in Nio's user experience.\nNio brought its fifth-generation swap station online on August 7, serving its Nio, Onvo and Firefly brands. Li said the new stations can accommodate the body dimensions of more than 95% of passenger vehicles on the market, laying the groundwork for serving more brands.\nOnce Yiyi Power's fleet battery swap business is integrated into Nio Power, the latter will provide support in technology development, supply chains, manufacturing, construction and operations to improve the experience for commercial fleet drivers, he said.\nIn charging, Nio has built 5,307 stations and provided more than 99 million charging sessions. More than 85% of the electricity supplied through its charging network has served users of brands outside Nio.\nSome of Nio's charging resources will be integrated into Haohan Energy after the transaction closes, Li said. The companies will cooperate on charging technology, site resources, construction and operations to support Haohan Energy's goal of building 22,000 charging stations by the end of 2027.\nLi also highlighted the value of the swap network beyond vehicle charging, saying swap stations have significant potential as energy storage facilities for grid peak shaving and frequency regulation.\nHe expects annual electricity demand across Nio's swap network to exceed 10 billion kWh by 2030, with the commercial and social value of swap stations as energy infrastructure becoming increasingly apparent.\n\"Nio and Geely's cooperation in charging and battery swapping is an open platform for the industry,\" Li said. \"We welcome and look forward to more peers joining us.\"\n\n\n\n\n\n\n\n\n\nBREAKING: Geely to take 30% stake in Nio Power with battery swap assets and cash - CnEVPost\nGeely will invest its entire equity interest in Yiyi Power and 640 million yuan in cash in Nio Power, integrating battery swap operations for commercial fleets.\n\n\nNio\nSept 28, 2026\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n($1 = 6.7489 yuan)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2670409400","isCrawlerRequest":true}