Nio and Geely reach a 640 million yuan investment and equity swap strategic cooperation agreement to jointly build 10,000 battery swapping stations by 2030.
On September 28, 2026, Nio and Geely Holding Group signed a strategic cooperation agreement, under which Geely will invest RMB 640 million in cash and 100% equity of Yiyi Internet in Nio Energy, holding a 30% stake. Both parties will jointly build a charging and battery swapping ecosystem, planning to build 10,000 battery swapping stations by 2030, promote the development of the charging and battery swapping system for new energy vehicles, enhance the energy network competitiveness of intelligent electric vehicles, and jointly establish unified energy replenishment technology standards. The annual electricity demand of battery swapping networks is expected to exceed 10 billion kilowatt-hours, and battery swapping technology will help increase ride-hailing revenue by 15%-20% and reduce vehicle costs by 40%.