(Yicai) Nov. 29 -- Zhejiang Geely Holding Group has become the second Chinese automaker after Changan Automobile to have reached a cooperation agreement on battery swapping with new energy vehicle startup Nio.

Geely and Nio today agreed to carry out comprehensive cooperation on battery standards, battery swapping technologies, battery swapping network expansion and operation, development of electric vehicles supporting battery swapping, and battery asset management, according to a press release.

The two automakers will co-develop two battery-swapping standards for passenger and commercial vehicles, accelerate the development and promotion of battery-swapping technologies on the vehicle end, and expand the operational scale of battery swapping to provide more convenient, comprehensive, and safer services for users with different needs, the pair said.

Nio announced on Nov. 21 that it would partner with Chongqing-based Changan Auto on battery swapping, expecting their first co-developed battery-swapping EV model to hit the market in 2025. It was Nio’s first partnership with other carmakers since it launched its battery-swapping business five years ago. But according to a Securities Times report, Nio has been talking with four to five other carmakers about partnerships on battery swapping.

Nio is China’s first EV maker to enter the battery-swapping business. It owns 2,103 battery swapping stations nationwide, which have provided users with 32 million battery swaps, according to the company’s recent statistics. Nio has also built more than 20,000 charging piles open to NEVs of all brands.

Geely’s unit Yiyi Power began developing battery swap stations for commercial vehicles before Geely joined hands with Nio.

“As one of the most innovative methods for recharging EVs, the future development of battery swapping technology requires the joint efforts of all parties to advance,” said Li Shufu, founder and chairman of Geely. Yiyi Power has already achieved good results in many cities and continues to expand nationwide, Li added.

Editors: Dou Shicong, Futura Costaglione