Geely Holding and NIO Sign Strategic Partnership Agreement on Battery Swapping Technology; Focus On Private and Commercial Vehicles

Zhejiang Geely Holding Group (Geely), China’s leading privately-controlled automotive technology group and NIO Holding (NIO) recently signed a strategic partnership agreement on battery swapping. Both parties agreed to carry out comprehensive cooperation on battery standards, battery swapping technology, battery swapping network expansion and operation, swappable model development, and battery asset management.

With preferential policies and an expanding network, battery swapping is being embraced by more EV users. NIO’s “chargeable, swappable, upgradeable” service system gives private car users with a recharging solution. With years of experience in providing battery swapping for commercial vehicles, Yiyi Power under Geely Holding is now looking to expand its presence in more cities.

Based on the principles of strategic recognition, sharing, and openness, both parties will complement each other’s advantages on the basis of their existing businesses and strategically cooperate in the area of battery swapping. In accordance with the agreement and through a “co-investment, co-construction, shared, co-operative” model, both parties will co-develop two battery swapping standards for private cars and commercial vehicles, accelerate the development and promotion of battery swapping technology on the vehicle end, and expand the operational scale of battery swapping to provide more convenient, comprehensive and safe services for users with different needs.

Both parties will establish an efficient battery asset management mechanism, build a unified battery swap operation, and develop battery swappable vehicles compatible with each other’s battery swap systems.

The partnership, in line with China’s development direction of new infrastructure and new energy, will further standardize battery swapping technology, increase the scale of the battery swap network, and accelerate the low-carbon transformation of the automotive industry.