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NIO (NIO) Forms Strategic Battery Swapping Partnership with Zhej
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- Published
- Sep 28, 2026, 3:44 AM UTC
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On September 27, 2026, NIO Inc (NYSE: NIO) announced a strategic partnership agreement with subsidiaries of Zhejiang Geely Holding Group focused on battery swap
Zhejiang Geely Holding Group Co. will buy a 30% stake in rival automaker Nio Inc.’s battery-swapping unit, gaining access to China’s largest network of swapping stations in a deal that values the business at about $2.4 billion.
Geely's subsidiary would use RMB640 million and its commercial battery-swap company for NIO Power shares; NIO China would retain control with 63.6%.