NIO Announces Definitive Agreements for Strategic Transaction with Geely Holding Group in Battery Swapping and Charging Businesses

NIO announced a strategic partnership with Geely Holding Group involving battery swapping and charging businesses. Geely will invest RMB640 million and contribute its battery swapping subsidiary to acquire 30% of NIO Power (valued at RMB16 billion), with NIO China retaining 63.6% control. NIO will also invest in Geely's charging business. The collaboration aims to expand battery swapping adoption across consumer and commercial vehicle segments.