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Geely and NIO Sign Strategic Partnership Agreement on Battery Swapping Technology

January 04, 2024

Zhejiang Geely Holding Group (Geely) and NIO have entered into a strategic partnership agreement on battery swapping.

The agreement, signed in Hangzhou, covers comprehensive cooperation on battery standards, battery-swapping technology, battery-swapping network expansion and operation, swappable model development, and battery asset management. The agreement was signed by Jack LIU, CEO of Yiyi Power under Geely Holding, and Fei SHEN, Senior Vice President of NIO.

Battery swapping is gaining popularity among EV users, thanks to preferential policies and an expanding network. NIO’s service system offers private car users a recharging solution, while Yiyi Power, with its experience in providing battery swapping for commercial vehicles, aims to expand its presence in more cities.

“NIO and Geely share a profound understanding of battery swapping and have been dedicated to the investment in the battery swapping technology and network for private cars and commercial vehicles with rich experience in swapping service and operations,” said William LI, Founder, Chairman and CEO of NIO.

“Green sustainable development and carbon neutrality have become a global consensus,” said Eric LI, Founder and Chairman of Geely Holding. “As one of the most innovative methods for recharging electric vehicles, the future development of battery swapping technology requires the joint efforts of all parties in the industry to advance it.”