NIO and Geely Agree Strategic Partnership on Charging and Battery Swapping
NIO and Geely Agree Strategic Partnership on Charging and Battery Swapping
NIO and Zhejiang Geely Holding Group agreed a comprehensive strategic partnership covering joint investment, shared technologies and standards, and a shared service network for charging and battery swapping. Geely Holding Group will take a 30% stake in NIO Power through its 100% interest in Yiyi Power plus RMB 640 million in cash, while NIO will take a 10% stake in Geely's Haohan Energy. NIO Power targets 10,000 Power Swap Stations by 2030, with annual network electricity demand expected to exceed 10 billion kWh.
Pooling charging and swapping networks and common battery swap standards could consolidate infrastructure build-out in China and reshape demand for swap stations, chargers and battery packs across the EV supply chain.
Key facts
| Companies | NIO Holding Co., Ltd., Zhejiang Geely Holding Group Co., Ltd., NIO Power, Yiyi Power, Haohan Energy, Geely Automobile Group |
|---|---|
| Capacity | NIO network: 9,433 swapping and charging stations, including 4,126 Power Swap Stations and 5,307 charging stations with 30,598 charging piles; Haohan Energy: 2,500 charging stations with more than 12,000 connectors in 232 cities; Geely target by end-2027: more than 22,000 charging stations with more |
| Investment | Geely Holding Group: 100% of Yiyi Power plus RMB 640 million cash for 30% of NIO Power; NIO invests in Haohan Energy for 10% stake; NIO has invested over RMB 20 billion in charging and swapping as of September 27, 2026 |
| Location | Hangzhou, China |
| Timing | 2026-09-28, 2026-09-27, 2026-09-23, 2030, 2027 |
| Partners | Zhejiang Geely Holding Group Co., Ltd., Geely Automobile Group |
| End uses | New energy vehicles, Commercial mobility and fleets, Consumer battery-swappable vehicle models, Public charging infrastructure |
| Chemicals | Lithium iron phosphate, Lithium hexafluorophosphate (CAS 21324-40-3), Graphite (CAS 7782-42-5) |
Market context
Battery swapping and fast charging networks depend on lithium-ion battery packs, whose main chemistries include lithium iron phosphate and nickel-rich cathodes, along with graphite anodes and electrolyte salts such as lithium hexafluorophosphate. These materials are used mainly in new energy vehicles, where pack design and cell chemistry determine range, safety and cost. Demand for swap stations and chargers is driven by passenger electric vehicles, commercial fleets such as taxis and logistics vehicles, and public charging operators that need high utilization. When charging and swapping networks are pooled and standardized, fewer incompatible systems are built, which can concentrate procurement of standard battery packs and charging hardware among a smaller group of suppliers. Such consolidation tends to favor operators with scale and can shift negotiating power toward cell makers that supply standardized packs. For chemical buyers, the practical effect is usually steadier, more predictable volume for cathode, anode and electrolyte inputs, rather than an immediate change in raw material prices.
Source: official release on nio.com. Summary and context written by Market Krystal.
About NIO
Automotive OEMs & Tier-1.
Lithium hexafluorophosphate (LiPF6) Market Report 2026-2035: Size, Producers, Pricing and Scenarios to 2047 (CAS 21324-40-3)
Producers, capacity, demand by application, trade and outlook for Lithium hexafluorophosphate.
View report and table of contents →Need the market behind this story?
Market Krystal can send a report sample or a scope for this chemical, company or market. An analyst replies within 24 hours.