Chinese automaker Geely will acquire a 30% stake in Nio Power by contributing 100% of its battery-swapping subsidiary Yiyi Power and CNY640 million (USD95.3 million) in cash. In return, Nio will take a 10% stake in Geely’s charging arm Haohan Energy. The pair will fully interconnect their charging networks and co-develop unified battery-swapping standards for consumer vehicles, with Nio set to provide swap services for Geely’s upcoming swap-capable models.