Geely’s Nio Power Deal Values Swap Network at RMB16 Billion

Shanghai, 28 September 2026 – Geely Holding Group has agreed to take an initial 30% interest in Nio’s battery-swapping and charging subsidiary, creating a shared infrastructure platform that could extend beyond one electric-vehicle brand. Nio’s transaction announcement says the agreed contribution combines the full equity interest in Geely’s Yiyi Internet Technology business with RMB640 million in cash. The deal is subject to regulatory clearance and customary closing conditions; the stake has not yet transferred.

The structure matters because it is not a simple cash purchase of an existing 30% block. Geely’s subsidiary would subscribe for newly issued equity in Nio Power using both assets and cash. On completion, Nio’s China subsidiary would retain control with 63.6%, while an existing investor would hold 6.4%. The announced post-money valuation is approximately RMB16 billion, providing a reference point for a network business whose value has been difficult to isolate within a carmaker’s consolidated accounts.