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Nio Hands Geely 30% of Power Unit in $2.4 Billion Battery Swap Deal
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- Published
- Sep 28, 2026, 6:18 PM UTC
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NIO is selling 30% of NIO Power to Geely for its Yiyi swap business and RMB640 million in cash, valuing NIO's battery swap network at RMB16 billion.
An outside investor just put a concrete price on the part of Nio's business that has frustrated analysts for years, and the terms of the deal reveal how much Geely thinks the network is worth.
Privately held Zhejiang Geely Holding Group is investing. It is buying into the battery swapping network that Nio (NYSE:NIO) built on its own, and the deal puts an outside price on a part of Nio’s business the market has struggled to value. A Geely Holding Group subsidiary will end up with a minority stake in […]