On November 29th, Zhejiang Geely Holding Group Co., Ltd. ("Geely Holding") and NIO Holding Co., Ltd. ("NIO") signed a strategic cooperation agreement for battery swapping in Hangzhou. The two sides will engage in comprehensive cooperation in multiple fields such as battery swapping standards, battery swapping technology, battery swapping service network construction and operation, research and development and customization of battery swapping models, and battery asset management and operation. All media reporters have noticed that this is another expansion of NIO's "battery swapping circle" after reaching a battery swapping model cooperation with Changan.
According to the agreement, both parties will work together through the "joint investment, joint construction, sharing, and joint operation" model to create two major battery swapping standard systems for "private cars" and "commercial cars", accelerate the connectivity and collaboration of the vehicle end, station end, battery end, and operation end, expand the scale of the battery swapping network, and provide more convenient, safer, and more complete services for users with different needs. Both parties will also establish an efficient battery asset management system, establish a unified battery swapping operation management system, and cooperate in the research and development of battery swapping passenger cars that are compatible with both parties' battery swapping systems. This cooperation is in line with the development direction of national new infrastructure and new energy, and will accelerate the standardization of battery swapping technology and the scale of battery swapping networks, helping the low-carbon transformation of the automotive industry.
Under the encouragement and promotion of national policies, the coverage of battery swapping networks is becoming wider and the battery swapping mode is increasingly favored by electric vehicle users. NIO's "rechargeable, interchangeable, and upgradeable" service system has created the best charging experience in the industry for private car users. Geely's subsidiary, Yiyi Interconnect, has also been deeply cultivating the operating car battery swapping market for many years and accelerating the expansion of services in more cities. Both sides stated that this is based on the principles of strategic high recognition, sharing and openness, complementing each other's existing business advantages, and carrying out comprehensive battery swapping strategic cooperation.
Li Bin, founder, chairman, and CEO of NIO, stated that both NIO and Geely have a deep understanding of the battery swapping model. In the past few years, NIO has invested heavily in battery swapping technology and networks for both private and commercial vehicles, accumulating rich experience in battery swapping service operations. This strategic cooperation will further promote the popularization of battery swapping modes and provide more users with high-quality and convenient battery swapping experiences. "Next, we will continue to promote the construction of NIO users' exclusive battery swapping network, continuously improve NIO users' charging experience, and work with partners to start the construction of a battery swapping network for multi brand sharing."
Li Shufu, Chairman of Geely Holding Group, stated that as one of the important energy supplement methods for new energy vehicles, the high-quality development of the battery swapping mode requires joint efforts and promotion from all parties in the industry. Geely Yiyi's battery swapping has achieved good results in operation in multiple cities across the country and continues to develop. Through this strategic cooperation in battery swapping, both parties will strengthen the cooperation in the battery swapping industry chain, accelerate the standardization and generalization of battery swapping models, jointly build a new ecosystem of battery swapping and energy supplementation, and jointly assist the low-carbon transformation and high-quality development of the automotive industry, creating greater value for users.