Geely Invests RMB 640 Million in NIO Power to Expand Battery Swapping Network

Key Facts

1Geely and NIO announced a strategic cooperation agreement including Geely investing RMB 640 million for a 30% stake in NIO Power.

2Geely will take a 100% equity interest in Yiyi Power as part of the transaction.

Geely and NIO announced a strategic cooperation agreement including Geely investing RMB 640 million for a 30% stake in NIO Power. Drive Tesla Canada reported that Geely will also take a 100% equity interest in Yiyi Power as part of the transaction.

The partnership aims to develop unified standards for battery swapping across both consumer and commercial vehicle segments by leveraging shared technology and capital. This investment provides a significant capital injection into NIO's power subsidiary and validates the battery-swapping model through a major industry peer partnership.