NIO and Geely form strategic battery swap alliance, valuing NIO Energy at 16 billion yuan
On September 28, 2026, NIO announced a strategic transaction with Zhejiang Geely Holding Group subsidiaries. A Geely subsidiary will contribute its 100% equity in YiYi Interconnect Technology (Chongqing) Co., Ltd. plus 640 million yuan in cash for a 30% stake in NIO Energy Investment (Hubei) Co., Ltd., valuing NIO Energy at approximately 16 billion yuan. NIO China retains a 63.6% controlling stake. Concurrently, NIO China will acquire a 10% stake in Geely's charging subsidiary, Zhejiang Haohan Energy Technology Co., Ltd. The deal includes performance-based adjustments and an option for Geely to invest an additional 640 million yuan.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
NIO shares rise over 3% after strategic battery swap deal with Geely
NIO Inc. (09866.HK) saw its share price rise over 3% in early trading, reaching 28.58 Hong Kong dollars, following the announcement of a strategic transaction with subsidiaries of Zhejiang Geely Holding Group Co., Ltd. (Geely Holding Group). On September 28, 2026, NIO announced a formal agreement under which a Geely subsidiary will contribute its 100% equity in YiYi Interconnect Technology (Chongqing) Co., Ltd., a Geely unit providing battery swap services to the commercial vehicle market, along with 640 million yuan in cash, to subscribe for newly issued equity in NIO Energy Investment (Hubei) Co., Ltd. (NIO Energy), NIO's battery swap and charging business subsidiary. The transaction is subject to regulatory approvals and other customary closing conditions. Upon completion, the Geely subsidiary will hold 30.0% of NIO Energy's total equity, while NIO's subsidiary NIO China will retain a controlling 63.6% stake, and an existing investor, Wuhan Guangchuang Innovation Technology Phase I Venture Capital Investment Fund Partnership, will hold the remaining 6.4%. The post-transaction valuation of NIO Energy is approximately 16 billion yuan.
Read sourceNIO and Geely Holding Sign Strategic Deal on Battery Swap and Charging Business
On September 28, NIO-SW (09866.HK) announced via an inside information notice that it has entered into formal agreements with several subsidiaries of Zhejiang Geely Holding Group Co., Ltd. for a strategic transaction involving battery swap and charging services. Under the deal, a Geely Holding subsidiary will contribute 100% equity of Yiyi Interconnect Technology (Chongqing) Co., Ltd. plus 640 million yuan in cash to subscribe for newly issued equity in NIO Energy Investment (Hubei) Co., Ltd. Post-transaction, the Geely subsidiary will hold 30% of NIO Energy's total equity, while NIO's subsidiary NIO Holding Co., Ltd. will retain a controlling 63.6% stake, and an existing investor, Wuhan Guangchuang Innovative Technology Phase I Venture Capital Fund Partnership, will hold the remaining 6.4%. The post-investment valuation of NIO Energy is approximately 16 billion yuan. Additionally, NIO China has agreed to subscribe for newly issued equity in Zhejiang Haohan Energy Technology Co., Ltd., resulting in NIO China holding 10% of Haohan Energy's total equity after completion.
Read sourceNIO and Geely Holding Group Reach Strategic Battery Swap and Charging Agreement
On September 28, 2026, NIO-SW (09866) announced a strategic transaction with subsidiaries of Zhejiang Geely Holding Group regarding battery swap and charging businesses. Under the formal agreement, a Geely subsidiary will contribute 100% equity of YiYi Interconnect Technology (Chongqing) Co., Ltd., a Geely subsidiary providing swap services to the commercial vehicle market, plus RMB 640 million in cash, to subscribe for newly issued equity in NIO Energy Investment (Hubei) Co., Ltd. (NIO Energy), NIO's swap and charging subsidiary. The transaction values NIO Energy at approximately RMB 16 billion post-investment. Post-completion, the Geely subsidiary will hold 30.0% of NIO Energy, with NIO China retaining 63.6% control and an existing investor holding 6.4%. The Geely stake is subject to downward adjustment to no less than 20% based on operational milestones. Geely also has an option to invest an additional RMB 640 million within two years, which would increase its stake to 34.0% and reduce NIO China's stake to 60.0%. Concurrently, NIO China will subscribe for 10.0% of Zhejiang Haohan Energy Technology Co., Ltd., a Geely charging subsidiary, using cash to purchase certain charging assets from NIO. The companies have also outlined preliminary plans for adopting swap technology for Geely's consumer and mobility service vehicles, subject to further discussion. NIO stated the deal reflects industry recognition of its swap technology, network, and operational capabilities.
Read sourceShow 4 older updatesHide older updates
NIO and Geely Holding Group Reach Strategic Cooperation on Battery Swapping and Charging Business
On September 28, 2026, NIO-SW (09866) announced a strategic transaction with subsidiaries of Zhejiang Geely Holding Group regarding battery swapping and charging businesses. Under a formal agreement, a Geely subsidiary will contribute 100% equity of YiYi Interconnect Technology (Chongqing) Co., Ltd., a Geely unit providing swapping services to the commercial vehicle market, plus RMB 640 million in cash, to subscribe for new shares in NIO Energy Investment (Hubei) Co., Ltd. (NIO Energy), NIO's subsidiary operating swapping and charging businesses. Post-transaction, the Geely subsidiary will hold 30.0% of NIO Energy, with NIO China retaining 63.6% and an existing investor holding 6.4%. The deal values NIO Energy at approximately RMB 16 billion post-investment. The Geely subsidiary's stake is subject to adjustment based on operational milestones, potentially dropping to no less than 20%. It also has an option to invest an additional RMB 640 million within two years, which would increase its stake to 34.0%. Concurrently, NIO China will acquire a 10.0% stake in Geely's charging subsidiary, Zhejiang Haohan Energy Technology Co., Ltd., using cash from NIO. The companies have also outlined preliminary plans for Geely's consumer vehicle models and mobility service vehicles to adopt NIO's battery swapping technology. NIO stated the cooperation reflects industry recognition of its swapping technology, network, and operational capabilities, and is expected to promote swapping adoption and enhance user experience.
Read sourceNIO and Geely Holding Group Sign Strategic Deal on Battery Swapping and Charging, Post-Investment Valuation at 16 Billion Yuan
NIO-SW has announced a strategic transaction with subsidiaries of Zhejiang Geely Holding Group regarding battery swapping and charging businesses. Under the agreement, a Geely subsidiary will contribute 100% equity of Yiyi Interconnect Technology (Chongqing) Co., Ltd. plus 640 million yuan in cash to subscribe for newly issued equity in NIO Energy Investment (Hubei) Co., Ltd. Post-transaction, the Geely subsidiary will hold 30% of NIO Energy's total equity, while NIO's subsidiary NIO Holding Co., Ltd. will retain a 63.6% controlling stake, and an existing investor, Wuhan Guangchuang Innovation Technology Phase I Venture Capital Fund Partnership, will hold the remaining 6.4%. The post-investment valuation of NIO Energy is approximately 16 billion yuan. Additionally, NIO China has agreed to subscribe for newly issued equity in Zhejiang Haohan Energy Technology Co., Ltd., resulting in NIO China holding 10% of Haohan Energy's total equity after the transaction.
Read sourceNIO and Geely Holding Group Reach Strategic Deal on Battery Swapping and Charging Business
On September 28, NIO Energy Investment (Hubei) Co., Ltd. issued new equity shares. After the transaction, a subsidiary of Geely Holding Group will hold 30% of NIO Energy's total equity. NIO's subsidiary, NIO Holding Co., Ltd., will retain a controlling 63.6% stake, while an existing investor, Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership), will hold the remaining 6.4%. The post-investment valuation of NIO Energy is approximately 160 billion yuan. Additionally, NIO China has agreed to subscribe for new equity shares in Zhejiang Haohan Energy Technology Co., Ltd. for cash consideration, and after the transaction, NIO China will hold 10% of Haohan Energy's total equity. The report is sourced from Southern Finance Network.
Geely invests 640 million yuan cash and equity in NIO Energy, valuing it at 16 billion yuan
On September 28, NIO announced in a Hong Kong Stock Exchange filing that it has entered into a formal agreement with subsidiaries of Zhejiang Geely Holding Group regarding battery swapping and charging business strategic transactions. Under the agreement, a Geely subsidiary will contribute its 100% equity in YiYi Interconnect Technology (Chongqing) Co., Ltd., plus 640 million yuan in cash, to subscribe for newly issued shares in NIO Energy Investment (Hubei) Co., Ltd. YiYi Interconnect is Geely's subsidiary providing battery swapping services for the commercial vehicle market, while NIO Energy operates NIO's battery swapping and charging business. The transaction is subject to regulatory approvals and other customary closing conditions. Upon completion, the Geely subsidiary will hold 30.0% of NIO Energy's total equity; NIO's subsidiary NIO Holding Co., Ltd. will retain a 63.6% controlling stake; and existing investor Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership) will hold the remaining 6.4%. The post-investment valuation of NIO Energy is approximately 16 billion yuan.
Read source