NIO and Geely agree on comprehensive charging and battery-swapping cooperation

NIO and Geely Holding Group have entered into definitive agreements regarding their charging and battery-swapping operations. As part of this comprehensive cooperation, Geely will provide its full stake in Yiyi Internet Technology and RMB 640 million in cash to acquire new shares in NIO Power. Following this transaction, Geely will hold a 30% stake in NIO Power. Additionally, NIO has indicated that it remains open to other industry peers joining this battery-swapping initiative.