China EV Maker Nio Signs Battery-Swapping Deal With Geely

(Bloomberg) — Electric-vehicle maker Nio Inc. signed its second battery-swapping partnership in less than two weeks on Wednesday, this time with Geely Automobile Holdings Ltd., one of China’s biggest independent carmakers.

The companies will develop two battery-swapping standards for private cars and commercial vehicles, promote battery swapping technology and expand operational scale, they said in a statement. They will also establish a battery asset management mechanism, build a unified battery swap operation, and develop vehicles compatible with each other’s battery swap systems.