Key facts
- Geely Holding Group will acquire a 30% stake in Nio Power.
- Geely will use cash and its own battery-swapping assets for the acquisition.
- The deal aims to strengthen both companies' positions in the electric vehicle market.
Chinese auto giant Geely Holding Group is set to acquire a 30% stake in Nio Power, the battery-swapping unit of its peer Nio. The acquisition will be made using a combination of cash and Geely's own battery-swapping assets. This strategic move aims to bolster both companies' competitiveness in the rapidly evolving electric vehicle market. The deal was reported on September 28, 2026.