From CNBC: 2024-04-05 00:20:52

Chinese electric car company Nio is expanding battery swap partnerships with Changan, Geely, Chery, JAC, and local battery companies to address consumer driving range anxiety. Nio has completed 40 million battery swaps, more efficient than charging. Other companies like Tesla and Ample have tested swapping technology in the past with mixed success.

Nio is the first major electric car company to introduce battery swap stations alongside charging stations in China and Europe. With over 2,300 swap stations and plans for 1,000 more, Nio aims to address market demand. Nio’s swap stations are two years ahead of demand, operating profitably at 60 orders a day while planning to build 20,000 charging stations.

Companies prefer investing in normal charging stations over swap stations, as they offer higher returns, but face power grid challenges. Tesla collaborates with automakers on charging, while Ford and General Motors have agreements to use Tesla’s superchargers. Nio addresses battery waste concerns by partnering with CATL to develop longer-lasting batteries for swap stations.

Read more: China’s Nio to expand battery swap services to gain EV infra edge