CHINA —Zhejiang Geely Holding Group has entered into a strategic agreement to acquire a 30 percent stake in NIO Energy Investment, the battery swapping and charging arm of Chinese electric vehicle manufacturer NIO. The transaction values NIO Power at post-money valuation of approximately RMB 16 billion. As part of the arrangement, Geely will transfer total equity ownership of its commercial battery swapping unit, Yiyi Internet Technology, alongside RMB 640 million in cash to NIO Power. In return, NIO China will secure a 10 percent stake in Haohan Energy, Geely’s charging subsidiary, while continuing to retain a controlling 63.6 percent stake in NIO Power.
NIO Inc. is a Shanghai-based electric vehicle manufacturer founded in 2014, operating consumer brands including NIO, ONVO, and FIREFLY. Zhejiang Geely Holding Group is a global automotive enterprise owning prominent automotive brands and technology subsidiaries. NIO Energy Investment oversees nationwide energy replenishment networks for electric vehicles across China.
Combining these asset portfolios marks a significant step toward standardizing battery swapping architecture within China's electric vehicle market. Shared infrastructure reduces redundant capital expenditure, accelerates network expansion, and improves station utilization rates across passenger and commercial mobility sectors. Furthermore, Geely holds an option to inject an additional RMB 640 million within two years to raise its stake in NIO Power to 34 percent.
Collaborative infrastructure investments allow major automotive manufacturers to streamline capital deployment while enhancing user convenience. By integrating charging assets and aligning battery swapping protocols across both consumer and fleet vehicles, major EV producers are fostering open power ecosystems capable of accelerating nationwide electric mobility adoption.
