Gasgoo Munich- NIO Inc. and Zhejiang Geely Holding Group announced a comprehensive strategic partnership in battery swapping and EV charging on September 28, 2026.
Key Takeaways
·The partnership covers technology, operations and capital. The two companies will invest in each other's EV charging and battery swap businesses, share technologies and standards, and jointly develop their service networks.
·Geely Holding will contribute its entire stake in Yiyi Internet Technology and RMB 640 million in cash for a 30% interest in NIO Power upon completion of the transaction. Yiyi's commercial-vehicle battery swap operations will be incorporated into NIO Power. The companies will also develop unified consumer-facing battery swap technologies and standards, with NIO Power serving future compatible Geely models.
·NIO Inc. will acquire a 10% stake in Geely subsidiary Haohan Energy upon completion of the deal. The companies plan to connect their EV charging resources to expand network coverage and improve operating efficiency.
Image source: NIO Inc.
Data and Evidence
Geely Holding said Haohan Energy currently operates 2,500 EV charging stations with more than 12,000 EV charging connectors across 232 Chinese cities, placing it among the country's leading charging-network operators.
As of September 27, 2026, NIO said it had invested more than RMB 20 billion in EV charging and battery swap technology and infrastructure. Its nationwide network comprised 9,433 facilities, including 4,126 battery swap stations and 5,307 charging stations with 30,598 charging points.
The company reported more than 220 million cumulative charging and battery swap sessions, including over 125 million battery swaps and more than 99 million charging sessions.
What to Watch Next
Geely plans to expand its network to more than 22,000 charging stations and 100,000 charging connectors by the end of 2027. The total is expected to include over 15,000 Geely Smart Charging stations and more than 50,000 compatible connectors, with coverage extending to county-level cities nationwide.
NIO Power plans to have 10,000 battery swap stations in operation by 2030. The company projects that its network's annual electricity demand will exceed 10 billion kWh by then.
