
Nio and Geely Finalize Battery Swap Deal, Valuing Nio Power at RMB16B
Nio and Geely Holding Group have signed definitive agreements to deepen their strategic partnership in battery swapping and charging. Geely will acquire a 30% stake in Nio Power, valuing the unit at approximately RMB16 billion, by contributing its commercial battery swap subsidiary and RMB640 million in cash. Nio retains a controlling 63.6% stake. Concurrently, Nio will acquire a 10% stake in Geely’s charging unit, Haohan Energy. The deal integrates Geely’s commercial fleet swap operations into Nio’s network and includes preliminary plans for consumer vehicle battery swapping, marking a shift from technical cooperation to capital-level integration.




