Nio sells a 30% stake in its battery swapping arm to Geely
Nio is selling 30% of its battery swapping business, Nio Power, to Geely Holding, which will build cars that use Nio’s stations. The deal values the unit at 16 billion yuan ($2.4 billion).
Via TNW | Electric-vehicle
Executives from Geely Holding Group and Nio at the signing in Hangzhou, 28 September 2026
Nio has agreed to sell a 30% stake in its battery swapping business, Nio Power, to Zhejiang Geely Holding Group, the company said on Monday. The two Chinese carmakers will also share technology and standards and build a joint service network.
Geely Holding will pay with its whole battery swapping unit, Yiyi Power, plus 640 million yuan in cash. The deal values Nio Power at…
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