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NIO-SW (09866) Forms Strategic Partnership with Geely Holding Group on Battery Swap and Charging Business; Geely Holding Group Takes Stake in NIO Power with Assets Plus Cash

According to Zhitong Finance APP, NIO-SW (09866) announced that on September 28, 2026, the company declared it had entered into formal agreements with certain subsidiaries of Zhejiang Geely Holding...

NIO-SW (09866) Forms Strategic Partnership with Geely Holding Group on Battery Swap and Charging Business; Geely Holding Group Takes Stake in NIO Power with Assets Plus Cash

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(<b>Geely Holding Group</b>) for strategic transactions in the battery swap and charging business.<br><br>Under the formal agreements, a subsidiary of <b>Geely Holding Group</b> will subscribe to newly issued equity of NIO Power Investment (Hubei) Co., Ltd. (<b>NIO Power</b>), a subsidiary of NIO engaged in the battery swap and charging business, with consideration comprising (i) its 100% equity interest in Yiyi Interconnect Technology (Chongqing) Co., Ltd. (a subsidiary of <b>Geely Holding Group</b> that provides battery swap services to the commercial vehicle market), plus (ii) RMB 640 million in cash, subject to obtaining regulatory approvals and satisfying other customary closing conditions.<br><br>Upon completion of the transaction, the <b>Geely Holding Group</b> subsidiary will hold 30.0% of the total equity of <b>NIO Power</b>, while NIO's subsidiary NIO Holding Co., Ltd. (<b>NIO China</b>) will continue to hold a controlling stake of 63.6%, and an existing investor, Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership), will hold the remaining 6.4% equity.<br><br>The transaction implies a post-investment valuation of approximately RMB 16 billion for <b>NIO Power</b>. The equity held by the <b>Geely Holding Group</b> subsidiary will be subject to post-closing adjustments linked to certain operational milestones, under which the stake may be reduced to no less than 20% if the relevant operating performance falls short of expectations.<br><br>The subsidiary has also been granted an option, exercisable within two years from the closing of this transaction or before the date <b>NIO Power</b> enters into a binding agreement for a new round of financing, whichever is earlier, to make a further cash investment of RMB 640 million in <b>NIO Power</b>. Without considering any post-closing equity adjustments, this would result in it holding 34.0% of <b>NIO Power</b>, while <b>NIO China</b>'s controlling stake would be 60.0%.<br><br>In conjunction with the <b>NIO Power</b> transaction, <b>NIO China</b> has agreed to subscribe to newly issued equity of Zhejiang Haohan Energy Technology Co., Ltd. (<b>Haohan Energy</b>), a subsidiary of <b>Geely Holding Group</b> engaged in the charging business, with cash consideration, subject to obtaining regulatory approvals and satisfying other customary closing conditions. The cash consideration will be used to purchase certain charging assets from NIO. Upon completion of the transaction, <b>NIO China</b> will hold 10.0% of the total equity of <b>Haohan Energy</b>.<br><br>In addition, <b>NIO</b> and <b>Geely Holding Group</b> have formulated preliminary plans for the adoption of battery swap technology and the provision of related services for consumer-facing vehicle models and mobility service vehicles under <b>Geely Holding Group</b>'s affiliated entities. These plans are subject to further discussion and implementation by the relevant parties.<br><br>The announcement stated that the above transactions and cooperation reflect the industry's recognition of <b>NIO</b>'s battery swap technology, network, and operational capabilities. Through strategic cooperation with industry participants, <b>NIO</b> expects to further promote the adoption of battery swapping, continuously enhance user experience, accelerate the growth of electric vehicle penetration, and further unlock the long-term value of battery swapping.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO-SW (09866) Forms Strategic Partnership with Geely Holding Group on Battery Swap and Charging Business; Geely Holding Group Takes Stake in NIO Power with Assets Plus Cash</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO-SW (09866) Forms Strategic Partnership with Geely Holding Group on Battery Swap and Charging Business; Geely Holding Group Takes Stake in NIO Power with Assets Plus Cash\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-09-28 07:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>According to Zhitong Finance APP, <b>NIO-SW</b> (<b>09866</b>) announced that on September 28, 2026, the company declared it had entered into formal agreements with certain subsidiaries of Zhejiang Geely Holding Group Co., Ltd. (<b>Geely Holding Group</b>) for strategic transactions in the battery swap and charging business.<br><br>Under the formal agreements, a subsidiary of <b>Geely Holding Group</b> will subscribe to newly issued equity of NIO Power Investment (Hubei) Co., Ltd. (<b>NIO Power</b>), a subsidiary of NIO engaged in the battery swap and charging business, with consideration comprising (i) its 100% equity interest in Yiyi Interconnect Technology (Chongqing) Co., Ltd. (a subsidiary of <b>Geely Holding Group</b> that provides battery swap services to the commercial vehicle market), plus (ii) RMB 640 million in cash, subject to obtaining regulatory approvals and satisfying other customary closing conditions.<br><br>Upon completion of the transaction, the <b>Geely Holding Group</b> subsidiary will hold 30.0% of the total equity of <b>NIO Power</b>, while NIO's subsidiary NIO Holding Co., Ltd. (<b>NIO China</b>) will continue to hold a controlling stake of 63.6%, and an existing investor, Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership), will hold the remaining 6.4% equity.<br><br>The transaction implies a post-investment valuation of approximately RMB 16 billion for <b>NIO Power</b>. The equity held by the <b>Geely Holding Group</b> subsidiary will be subject to post-closing adjustments linked to certain operational milestones, under which the stake may be reduced to no less than 20% if the relevant operating performance falls short of expectations.<br><br>The subsidiary has also been granted an option, exercisable within two years from the closing of this transaction or before the date <b>NIO Power</b> enters into a binding agreement for a new round of financing, whichever is earlier, to make a further cash investment of RMB 640 million in <b>NIO Power</b>. Without considering any post-closing equity adjustments, this would result in it holding 34.0% of <b>NIO Power</b>, while <b>NIO China</b>'s controlling stake would be 60.0%.<br><br>In conjunction with the <b>NIO Power</b> transaction, <b>NIO China</b> has agreed to subscribe to newly issued equity of Zhejiang Haohan Energy Technology Co., Ltd. (<b>Haohan Energy</b>), a subsidiary of <b>Geely Holding Group</b> engaged in the charging business, with cash consideration, subject to obtaining regulatory approvals and satisfying other customary closing conditions. The cash consideration will be used to purchase certain charging assets from NIO. Upon completion of the transaction, <b>NIO China</b> will hold 10.0% of the total equity of <b>Haohan Energy</b>.<br><br>In addition, <b>NIO</b> and <b>Geely Holding Group</b> have formulated preliminary plans for the adoption of battery swap technology and the provision of related services for consumer-facing vehicle models and mobility service vehicles under <b>Geely Holding Group</b>'s affiliated entities. These plans are subject to further discussion and implementation by the relevant parties.<br><br>The announcement stated that the above transactions and cooperation reflect the industry's recognition of <b>NIO</b>'s battery swap technology, network, and operational capabilities. Through strategic cooperation with industry participants, <b>NIO</b> expects to further promote the adoption of battery swapping, continuously enhance user experience, accelerate the growth of electric vehicle penetration, and further unlock the long-term value of battery swapping.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80175":"吉利汽车-R","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","NIO":"蔚来","LU1861219969.SGD":"Blackrock Future of Transport A2 SGD-H","IDRV":"iShares Self-Driving EV and Tech ETF","BK1588":"回港中概股","LU2360107325.USD":"BGF FUTURE OF TRANSPORT \"A4\" (USD) INC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","NIO.SI":"蔚来","BK1539":"汽车股","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC","BK1521":"挪威政府全球养老基金持仓","09866":"蔚来-SW","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","IE00BZ08YS42.EUR":"GUINNESS BEST OF CHINA \"C\" (EUR) ACC","LU1861214812.USD":"Blackrock Future of Transport A2 USD","BK1589":"北水核心资产","GELYY":"吉利汽车ADR","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","BK1119":"汽车制造商","IE00BZ08YT58.USD":"GUINNESS BEST OF CHINA \"C\" (USD) ACC","00175":"吉利汽车"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158407953","content_text":"According to Zhitong Finance APP, NIO-SW (09866) announced that on September 28, 2026, the company declared it had entered into formal agreements with certain subsidiaries of Zhejiang Geely Holding Group Co., Ltd. (Geely Holding Group) for strategic transactions in the battery swap and charging business.Under the formal agreements, a subsidiary of Geely Holding Group will subscribe to newly issued equity of NIO Power Investment (Hubei) Co., Ltd. (NIO Power), a subsidiary of NIO engaged in the battery swap and charging business, with consideration comprising (i) its 100% equity interest in Yiyi Interconnect Technology (Chongqing) Co., Ltd. (a subsidiary of Geely Holding Group that provides battery swap services to the commercial vehicle market), plus (ii) RMB 640 million in cash, subject to obtaining regulatory approvals and satisfying other customary closing conditions.Upon completion of the transaction, the Geely Holding Group subsidiary will hold 30.0% of the total equity of NIO Power, while NIO's subsidiary NIO Holding Co., Ltd. (NIO China) will continue to hold a controlling stake of 63.6%, and an existing investor, Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership), will hold the remaining 6.4% equity.The transaction implies a post-investment valuation of approximately RMB 16 billion for NIO Power. The equity held by the Geely Holding Group subsidiary will be subject to post-closing adjustments linked to certain operational milestones, under which the stake may be reduced to no less than 20% if the relevant operating performance falls short of expectations.The subsidiary has also been granted an option, exercisable within two years from the closing of this transaction or before the date NIO Power enters into a binding agreement for a new round of financing, whichever is earlier, to make a further cash investment of RMB 640 million in NIO Power. Without considering any post-closing equity adjustments, this would result in it holding 34.0% of NIO Power, while NIO China's controlling stake would be 60.0%.In conjunction with the NIO Power transaction, NIO China has agreed to subscribe to newly issued equity of Zhejiang Haohan Energy Technology Co., Ltd. (Haohan Energy), a subsidiary of Geely Holding Group engaged in the charging business, with cash consideration, subject to obtaining regulatory approvals and satisfying other customary closing conditions. The cash consideration will be used to purchase certain charging assets from NIO. Upon completion of the transaction, NIO China will hold 10.0% of the total equity of Haohan Energy.In addition, NIO and Geely Holding Group have formulated preliminary plans for the adoption of battery swap technology and the provision of related services for consumer-facing vehicle models and mobility service vehicles under Geely Holding Group's affiliated entities. These plans are subject to further discussion and implementation by the relevant parties.The announcement stated that the above transactions and cooperation reflect the industry's recognition of NIO's battery swap technology, network, and operational capabilities. Through strategic cooperation with industry participants, NIO expects to further promote the adoption of battery swapping, continuously enhance user experience, accelerate the growth of electric vehicle penetration, and further unlock the long-term value of battery swapping.","news_type":1,"symbols_score_info":{"80175":1,"09866":1,"IDRV":1,"00175":1,"NIO.SI":1,"GELYY":1,"EVS.SI":1,"NIO":1}},"isVote":1,"tweetType":1,"viewCount":129,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":29,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}