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NIO's Hong Kong shares climb on signing battery-swapping deal with Geely

By Reuters News02:28 (UTC), 28 September 2026 Updated

** Hong Kong shares of Chinese electric vehicle maker NIO Inc 9866.HK climb 3.2% to HK$28.96, on course for their biggest one-day pct gain since September 18

** Stock hits highest level since September 23, snapping two straight sessions of losses

** NIO signs a broad deal with Zhejiang Geely Holding Group for their battery-swapping and charging businesses

** Under deal, Geely Holding Group will acquire a 30% stake in NIO Power, NIO's battery-swapping and charging unit, for 100% of the equity in its battery-swapping subsidiary Yiyi Power, plus 640 million yuan ($95 million) in cash

** The transaction values NIO Power at a post-money valuation of about 16 billion yuan

** YTD, Hong Kong stock down 30.2%, US-listed shares down 29.8%

($1 = 6.7147 Chinese yuan renminbi)

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