🇨🇳 Nio, Geely Link Battery Swaps

Nio and Geely on Monday agreed to a comprehensive partnership in charging and battery swapping in China, including joint investment in their operating entities, shared technology and standards, and a jointly built service network. Geely will inject 100% of Yiyi Hulian and CNY640 million into Nio Energy for a 30% stake, while Yiyi Hulian’s commercial-vehicle battery swap business will be folded into Nio Energy.

Nio will also take a 10% stake in Geely unit Hohan Energy, and the two sides will fully connect their charging resources to expand coverage and improve operating efficiency. The deal links two major Chinese EV groups around battery-swapping infrastructure, a segment requiring high capital spending, common standards, and dense network deployment to scale.

Geely’s Hohan Energy already operates in 232 cities with 2,500 charging stations and more than 12,000 chargers, with nationwide county-level coverage targeted by end-2027. Nio Energy said it plans to build 10,000 battery swap stations by 2030, with annual power demand in its network expected to exceed 10 billion kWh.

#China

@asianomics