Strategic investment cash component · Mobility
Geely commits CNY640 million and battery-swap assets to NIO Power
Geely’s strategic investment combines new cash with its Yiyi Power business.
Geely Holding Group agreed to invest CNY640 million in cash and contribute its Yiyi Power battery-swapping business in exchange for newly issued equity in NIO Power. The September 28 agreement would give Geely a 30% stake when completed.
The partners plan to integrate commercial-fleet swapping services and develop common technologies and standards. The CNY640 million figure represents the cash component of the investment; the transaction also includes the transfer of Yiyi Power.
Funding history
Strategic investment cash component · This roundCN¥640M