Nio's Solar-Powered Swap Station Goes Off-Grid in Xinjiang as Geely Takes 30% of Energy Unit
Published on 10/02/2026 at 14:51 | Editorial boerse-global.de
Nio has switched on its first fully solar-powered battery-swap station, a facility at the Xingxingxia service area in Xinjiang that began operating on September 23. According to media reports, the site runs entirely independently of the local grid, pairing its own solar panels directly with energy storage. The move underscores the company's push to extend service beyond major urban centers, where decentralized power generation is meant to keep operations running in remote territory.
That infrastructure — long regarded as Nio's technical calling card — comes with a persistent price tag, and the company is now spreading the financial load. On Sunday, Nio and Geely Holding Group signed binding agreements covering a broad transaction in the charging and swapping business. A Geely subsidiary is contributing its entire stake in Yiyi Internet Technology plus 640 million RMB in cash. In return, Geely receives newly issued shares in Nio Power, securing a 30.0% stake. Control stays with Nio China, which holds a majority of 63.6%. The deal values the energy unit at roughly USD 2.4 billion and remains subject to regulatory approval and customary closing conditions.
September Deliveries Lose Steam
On the operational side, Nio shipped 37,408 vehicles worldwide in September, a 7.7% gain over the prior-year month. That marks a slowdown from August, when deliveries rose 14.5%. China's EV market missed expectations in what is traditionally a strong sales month, and Nomura believes the sector's usual seasonal upswing failed to materialize. Against that muted backdrop, growth decelerated across many manufacturers, adding pressure on margins industry-wide.
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Beneath the headline figure, the model mix shifted noticeably. The premium core brand absorbed most of the slack left by the weaker second marque, Onvo. Management is concentrating on protecting fleet profitability rather than chasing market share through heavy discounts. The main brand posted 21,318 deliveries, up 55.3% year over year, with the ES8 and ES9 models and the Firefly nameplate underpinning the advance.
A Recall for the Entry-Level Brand
Firefly also brought a setback. Nio's Anhui subsidiary recalled 686 Firefly vehicles built between March 20 and April 2, according to authorities, after a steering-column sensor risked signal interference that could impair power steering. Workshops are inspecting the affected cars and replacing components at no charge.
Through the first three quarters, cumulative deliveries reached 300,301 units. The battery-swap network, meanwhile, keeps expanding: NIO Power brought 13 new stations online on Friday, taking its Chinese footprint to 9,515 charging and swap locations. The company says those facilities have handled more than 120 million battery swaps to date.
Shares Stay Pinned Near Their Low
Investors have yet to treat any of this as a turning point. The stock closed at EUR 3.03 in the previous session and was trading at EUR 3.06 on Friday, up 1.0%. That leaves the shares just 2.4% above their 52-week low, with a year-to-date decline of 35% to 36%. Skepticism over the heavy capital demands of the station network continues to outweigh operational progress.
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