Geely agrees to take 30% of NIO Power for Yiyi Power plus RMB640 million
NIO Inc. said in a Hong Kong Stock Exchange filing on September 28, 2026 that, subject to closing conditions, a Geely Holding Group subsidiary will subscribe for newly issued equity of NIO Power with its 100% stake in Yiyi Power plus RMB640 million in cash, holding 30.0% at completion at a post-money valuation of approximately RMB16 billion; NIO China keeps a controlling 63.6%. Under the same conditions, NIO China will take 10.0% of Geely's charging arm, Haohan Energy. The filing calls plans for battery swapping on Geely consumer-facing models and commercial mobility businesses preliminary.
The Duck Curve