, HangZhou
Geely Holding and NIO Sign Strategic Partnership Agreement on Battery Swapping Technology

2023 November 29th, Hangzhou, China – Zhejiang Geely Holding Group (Geely), China’s leading privately-controlled automotive technology group and NIO Holding (NIO) signed a strategic partnership agreement on battery swapping in Hangzhou. Both parties agreed to carry out comprehensive cooperation on battery standards, battery swapping technology, battery swapping network expansion and operation, swappable model development, and battery asset management.

Jack LIU, CEO of Yiyi Power under Geely Holding, and Fei SHEN, Senior Vice President of NIO, signed the agreement on behalf of both parties. Eric LI, Founder and Chairman of Geely Holding, Jerry GAN, CEO of Geely Auto Group, William LI, Founder, Chairman and CEO of NIO, and Steven FENG, CFO of NIO, witnessed the signing of the agreement.

With preferential policies and an expanding network, battery swapping is being embraced by more EV users. NIO’s “chargeable, swappable, upgradeable” service system provides private car users with the best recharging solution in the industry. With years of experience in providing battery swapping for commercial vehicles, Yiyi Power is now looking to expand its presence in more cities.

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