NIO sells 30% of battery swap unit to Geely for 16 billion yuan as Chinese makers pool charging infrastructure
By Eve
Chinese EV maker NIO announced on 28 September that Geely Holding Group will acquire a 30 per cent stake in NIO Power, its battery swap and charging subsidiary, for 640 million yuan in cash plus Geely's wholly owned swap unit Yiyi Power, valuing NIO Power at roughly 16 billion yuan. NIO Power targets 10,000 battery swap stations by 2030 with annual electricity demand exceeding 10 billion kWh, while Geely plans more than 22,000 charging stations by end 2027. NIO currently operates over 4,000 swap stations offering three minute battery replacements.
Why it matters
The joint venture signals consolidation in China's charging infrastructure market and creates a combined network that could set de facto standards for swap and charge deployment, influencing equipment procurement volumes and interoperability requirements. Buyers and installers should watch whether the partnership opens technical specifications to third parties, potentially reshaping tender criteria across Asia.
Source
- Original title
- “Chinese EV maker NIO inks battery-swopping deal with Geely, open to other peers joining”
- Published
- 28 September 2026
- Updated
- 30 September 2026
- Also covered by
- donanimhaber.com · electrek.co · electriccarsreport.com · electrive.com · evinfrastructurenews.com · evpowered.co.uk · paultan.org · thedriven.io · and more via Google News (1, 2, 3, 4)
In this story
- Topic
- EV Charging
- Place
- China
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