Chinese auto makers Geely and Nio have signed a strategic partnership agreement on battery swapping technology. Both parties have agreed to carry out comprehensive cooperation on battery standards, battery swapping technology, battery swapping network expansion and operation, swappable model development, and battery asset management.

The two companies say they will co-develop two battery swapping standards for private cars and commercial vehicles, accelerate the development and promotion of battery swapping technology, and expand the operational scale of battery swapping services.

Both parties also aim to establish an efficient battery asset management mechanism, build a unified battery swap operation, and develop battery swappable vehicles compatible with each other’s battery swap systems.

“Green sustainable development and carbon neutrality have become a global consensus,” said Eric Li, founder and chairman of Geely. “As one of the most innovative methods for recharging electric vehicles, the future development of battery swapping technology requires the joint efforts of all parties in the industry to advance it.

“Geely Yiyi Power has achieved positive results in the operation across multiple cities nationwide and is continuing to grow. Through this strategic cooperation in battery swapping, the two parties will strengthen their cooperation in the battery swapping industry chain, accelerate the adoption of unified standards, expand the ecosystem for battery swapping and charging, support the low-carbon transformation and high-quality development of the automotive industry, and offer a better electric mobility experience for users.”

William Li, founder, chairman and CEO of Nio, said, “As a leading company in the Chinese automotive market, Geely Holding’s rapid development in the new energy field is impressive. This strategic partnership will further popularize battery swapping, bring quality and convenient battery swapping experience to more users and contribute to the steady development of the smart EV industry.

“We will continue to advance the construction of Nio’s battery-swapping network for Nio users, continually enhancing the charging experience for our users, and collaborating with partners to initiate the construction of a battery-swapping network for multi-brand sharing.”