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Geely Takes 30 Percent Stake in Nio Power Battery Swap Unit
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- Published
- Sep 28, 2026, 6:06 AM UTC
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Geely takes a 30 percent stake in Nio’s battery swap unit Nio Power at a $2.4 billion valuation. The key terms of the deal and what it means for CATL and BYD.
CHINESE electric vehicle maker Nio and Geely Holding Group announced a comprehensive partnership in charging and battery swapping on Monday, including cross-investments in their energy businesses and plans to support battery-swappable vehicles for individual consumers, Nio’s WeChat official account said.
The companies are also discussing wider use of battery swapping across Geely-related vehicles, though plans remain preliminary.