NIO and Geely Holding Group have forged a strategic cooperation pact centered on battery swap and charging services. Geely will invest in NIO Power by subscribing to new equity, utilizing 100% of the equity of its subsidiary, Yiyi Internet, along with RMB 640 million in cash. Following the transaction's completion, Geely will secure a 30% stake in NIO Power, propelling NIO Power's post-investment valuation to an impressive RMB 16 billion. Concurrently, NIO will acquire a 10% stake in Geely's subsidiary, Haohan Energy. As the linchpin of NIO's battery swap business, NIO Power has previously garnered strategic investments from a diverse array of entities, including Wuhan State-owned Assets and CATL, among others. It has successfully established over 4,000 battery swap stations, with numerous automakers joining its battery swap alliance. Presently, the battery swap sector is experiencing a surge in momentum, fueled by policies that explicitly advocate for the revision of charging and battery swap standards. The industry is evolving into a "one super, one strong" dynamic, with NIO Power at the forefront and CATL and other contenders in hot pursuit. Heavyweights from various sectors, including complete vehicle manufacturers and battery companies, are diving into the fray, marking the battery swap sector's transition from isolated corporate endeavors to industry-wide collaborative development.