NIO Inc. NIO and Geely Automobile Holdings Limited GELHY announced a strategic partnership on Sept. 28, 2026, to integrate their charging and battery-swapping networks.
Under the agreement, the two automakers will establish cross-shareholdings to strengthen cooperation across their energy businesses. Geely Holding Group will acquire a 30% interest in NIO Power through a combination of 100% equity in its battery-swapping subsidiary, Yiyi Power, and a cash investment of 640 million yuan. Yiyi Power’s commercial-vehicle battery-swapping operations will subsequently be integrated into NIO Power.
Meanwhile, NIO will purchase a 10% stake in Geely’s charging subsidiary, Haohan Power. The transaction will enable the companies to fully connect their respective charging resources.
Per Economy Observer, the partnership aims to expand battery swapping beyond individual-brand ecosystems and promote greater industry-wide standardization. The collaboration will focus on developing battery-swapping technologies and standards for passenger EVs. Geely plans to introduce new electric models compatible with the shared swapping standards, while NIO Power will provide the supporting battery-swapping infrastructure. NIO Energy aims to operate 10,000 battery-swapping stations globally by 2030, with annual electricity consumption expected to exceed 10 billion kWh.
NIO had 3,790 battery-swapping stations when it surpassed 100 million cumulative swaps in February and plans to add another 1,000 stations this year. The company also recorded a single-day record of 175,976 battery swaps earlier in 2026. Its swapping network supports NIO’s Battery-as-a-Service model, which allows customers to purchase vehicles at lower upfront prices, including the ES9 flagship SUV, which launched at around $54,000.
NIO’s Zacks Rank & Key Picks
NIO currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Garrett Motion Inc. GTX and Mobileye Global Inc. MBLY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 10 cents each over the past 60 days.
The Zacks Consensus Estimate for MBLY’s 2026 sales and earnings implies year-over-year growth of 5.6% and 36.1%, respectively. The EPS estimate for 2026 and 2027 has improved 3 cents each over the past 60 days.
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This article originally published on Zacks Investment Research (zacks.com).