The joint venture between Geely and Ningde Era to acquire shares in Chongqing Yaoning continues to deepen cooperation

The Zhitong Finance App learned that on September 11, the State Administration of Market Supervision and Administration published information showing that the “Chongqing Yaoning New Energy Technology Co., Ltd. Equity Case” in which Ningde Times New Energy Technology Co., Ltd. and Jikrypton Auto (Shanghai) Co., Ltd. participated together was unconditionally approved on September 3, 2026.

According to reports, this share acquisition was not carried out unilaterally by Ningde Times, but was completed through a joint venture between Geely Automobile and the Ningde Era, Times Geely Power Battery Co., Ltd., which is a normal asset optimization between the two parties under the existing cooperation framework. After the transaction is completed, the daily operation of Chongqing Yaoning will be taken over by Geely Times, and Geely Automobile will still play an important role in the project.

Industry insiders analyzed that this adjustment is an important step for Geely to implement the “One Geely” strategy focus, and will not affect the progress of its battery self-development strategy. Currently, Geely's battery business was integrated into Jiyao Express in April 2025, and the “Aegis BRICS Battery” brand was uniformly released, while cleaning up repeated investment and marginal production capacity to improve resource utilization and overall return on investment.

At present, the effects of self-developed battery integration are gradually showing: Jiyao Tong has built the top ten intelligent manufacturing bases and three research institutes. As of the second quarter of 2026, the cumulative shipment volume of batteries reached 75 million units; since this year, it has implemented a production capacity of 70 GWh, with predicted revenue of 30 billion yuan, and future production capacity will expand to 150 GWh. Geely will continue to adhere to the battery supply structure of “self-development+strategic cooperation+diversified supplementation” to enhance the stability of the battery supply chain.