Chinese electric vehicle (EV) maker Nio has announced a partnership with Changan Automobile to jointly develop battery-swapping electric vehicles. The collaboration will also involve the two companies in building and sharing battery-swapping stations and standardizing batteries. Nio aims to enhance profitability through this partnership as it faces increasing competition in the EV market. The company plans to focus on efficiency and cost reduction by trimming its workforce and deferring long-term investments. Battery swapping allows drivers to replace depleted packs quickly with fully charged ones, addressing range anxiety and potentially easing strain on power grids during peak charging times. Nio plans to double the total number of battery-swapping stations in China this year.
Key Points:
- Nio partners with Changan Automobile to develop battery-swapping electric vehicles.
- The collaboration includes building and sharing battery-swapping stations and standardizing batteries.
- Nio aims to improve profitability by reducing costs and increasing efficiency in the face of growing EV competition.
- Battery swapping allows quick replacement of depleted packs with fully charged ones, addressing range anxiety.
- Nio plans to double the total number of battery-swapping stations in China this year.
- Changan and Nio ranked seventh and eighth, respectively, in terms of EV sales in China for the first nine months of the year.
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