NIO Inc. entered into definitive agreements with Geely Holding Group to restructure its battery swapping and charging businesses. Geely will acquire a 30% stake in NIO Power for RMB640 million, valuing the subsidiary at approximately RMB16 billion post-money. NIO retains a 63.6% controlling interest, while an existing investor holds 6.4%. The deal includes performance-based adjustments that could reduce Geely's stake to no less than 20%, alongside an option for further investment. Concurrently, NIO will acquire a 10% stake in Haohan Energy and sell charging assets to facilitate technology adoption across Geely's vehicle brands. This strategic transaction highlights industry recognition of NIO’s battery swapping capabilities. NIO Inc. is a pioneer and leading company in the global smart electric vehicle market.
