NIO and Geely Team Up to Build a Bigger Battery-Swapping and Charging Network

NIO and Geely are joining forces to expand battery swapping and EV charging in China, bringing two major automotive ecosystems closer together around shared infrastructure.

Under a new strategic partnership announced September 28, Geely Holding Group will invest in NIO Power through its Yiyi Power business and RMB 640 million in cash. Once the transaction is completed, Geely will own a 30% stake in NIO Power.

The deal goes beyond an equity investment. NIO and Geely plan to share technology and standards while developing a connected charging and battery-swapping network. Yiyi Power’s battery-swapping operations for commercial mobility will also be integrated into NIO Power.

The companies intend to develop common battery-swapping technologies and standards for consumer vehicles. Geely will develop vehicles capable of using battery swapping, while NIO Power will provide the associated swapping services.

The partnership also covers conventional EV charging. NIO will invest in Geely’s Haohan Energy and acquire a 10% stake once the transaction is completed. The two companies plan to connect their charging infrastructure, potentially giving drivers access to a broader network while improving the utilization of their respective assets.

The scale of NIO’s existing infrastructure gives the partnership a significant starting point. As of September 27, NIO said it had invested more than RMB 20 billion in charging and battery-swapping technology and infrastructure. Its network included 4,126 Power Swap Stations and 5,307 charging stations with more than 30,000 charging piles across China.

NIO said its infrastructure has already delivered more than 220 million charging and battery-swapping services, including over 125 million battery swaps. The company is targeting 10,000 Power Swap Stations by 2030.

Geely brings another sizeable charging network to the partnership. Its Haohan Energy business currently operates 2,500 charging stations with more than 12,000 connectors across 232 Chinese cities. Geely has said it plans to expand that footprint substantially by the end of 2027.

The companies are also looking beyond passenger vehicles. Yiyi Power is working on applications including battery swapping for commercial mobility and robotaxis, as well as broader integration between transportation and energy systems.

For NIO, the partnership could help extend the reach of its battery-swapping technology beyond its own vehicle lineup. For Geely, access to NIO’s established swapping infrastructure provides another route toward expanding battery-swappable EVs.

The agreement comes as Chinese automakers look for greater cooperation around EV infrastructure after years of rapid expansion and intense competition. NIO and Geely say their shared approach is intended to improve network efficiency, reduce duplicated investment and make recharging more convenient for EV users.