Nio and Geely integrate charging and battery swapping services

Nio and Geely are significantly deepening their collaboration in charging infrastructure and battery swapping. In addition to mutual investments, the companies aim to connect their networks, develop common standards, and eventually allow Geely models to use Nio’s swapping stations as well.

Geely is investing 30 percent in Nio Power.

Image: Nio

The core of the new agreement is mutual participation in each other’s energy businesses. Geely will inject its wholly owned subsidiary Yiyi Power along with 640 million yuan into Nio Power and is expected to hold 30 percent of the company after the transaction completes. Yiyi Power’s existing battery swap business for commercial mobility services will then be integrated into Nio Power.

In return, Nio will invest 10 percent in Geely’s charging infrastructure subsidiary Haohan Energy. The companies did not disclose a purchase price for this stake. Meanwhile, the charging networks of both parties are set to be fully connected to increase infrastructure coverage and utilization rates.

The collaboration extends even further to battery swapping. Nio and Geely aim to develop shared technologies and standards for replaceable batteries in passenger cars. Geely specifically announces models for private customers that will use Nio’s Power-Swap infrastructure in the future. Nio Power is set to provide swapping services for these vehicles.

Nio plans 10,000 swap stations by 2030

Battery swapping collaboration is not new. As early as late 2023, Nio and Geely agreed to develop common standards for passenger cars and commercial vehicles and bring corresponding models to market. At that time, however, it was unclear how closely the systems would be technically integrated and which Geely models would actually access Nio’s swapping infrastructure.

The new agreement makes the partnership much more concrete. Geely is investing directly in Nio Power, Yiyi Power is set to be integrated, and compatible battery swap models are specifically planned for private customers. This moves the cooperation beyond a simple standardization agreement to include infrastructure, operations, and ownership structures in the future.

For Nio, opening up its network is strategically important. The company has invested over 20 billion yuan to date in charging and battery swap technology, which is roughly equivalent to 2.62 billion euros. As of September 27, China’s network included 4,126 power swap stations and 5,307 charging locations with 30,598 charging points. Nio aims to increase the number of swap stations to 10,000 by 2030.

Geely’s Haohan Energy currently operates 2,500 charging stations with over 12,000 ports in 232 Chinese cities. By the end of 2027, Geely plans to expand this to more than 22,000 stations and over 100,000 charging points. Just a few days before the new partnership was announced, the company also introduced a new generation of its fast-charging technology with a peak power output of up to 2.25 MW.