Nio and Geely join forces for EV battery swap rollout
Nio and Geely, two of China’s biggest electric vehicle players, are forming a partnership to expand automated battery swap stations for EVs. Geely will buy a 30% stake in Nio’s battery swapping unit, and both companies will share technology to speed up deployment. The system lets drivers replace a depleted battery in about three minutes instead of waiting to recharge—currently limited to Nio vehicles but aiming for broader compatibility.
- Geely acquires 30% stake in Nio Power
- Battery swap replaces EV packs in 3 minutes
- Deal may create shared battery swap standards
- Most stations currently in China and Scandinavia
- Agreement awaits regulatory approval
Sources covering this
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