Key facts
- Geely is acquiring a 30% stake in Nio's battery-swapping unit.
- The deal aims to expand Geely's electric vehicle battery services.
- Both Chinese automakers are deepening their commitment to battery-swapping technology.
Chinese automakers Geely and Nio are deepening their commitment to electric vehicle battery-swapping technology, with Geely set to acquire a 30% stake in Nio's battery-swapping unit. The move aims to expand Geely's EV battery services.