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Pictured here is a Nio battery swapping station in Haikou, Hainan province, China, on May 9, 2023. Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem. Nio also announced agreements earlier this year to work with two local battery companies on battery swap services. While having a large network of battery charging stations helps address those concerns, battery swapping is a faster method as it takes only a few minutes. CLSA's Luo said businesses also prefer to invest in normal charging stations than swap stations because they make a higher return.
Persons: Nio, , JAC —, Ding Luo, Shen Fei, Shen, it's, Le, William Li, Shay Natarajan, Luo, Ford Organizations: Bloomberg, Getty, Chery, CNBC, Battery, Nissan, Sino Auto, Mobility Impact Partners, General Motors Locations: Haikou, Hainan province, China, BEIJING, U.S, San Francisco, Kyoto, Japan, Madrid, Spain, Europe, North America
REUTERS/Aly SongSHANGHAI, March 28 (Reuters) - Chinese electric vehicle (EV) maker Nio Inc (9866.HK) began trial operation on Tuesday of faster, more efficient battery swapping stations in China in its push to make battery swapping a viable alternative to rival EV makers' rapid-charging technology. Tesla's (TSLA.O) rapid-charging Supercharger allows EV users to top up vehicles to a range of 200 miles in 15 minutes. Rival Tesla has dismissed battery swapping as "riddled with problems and not suitable for widescale use". Nio, which has set a target of 2,300 battery swapping stations globally by year-end, had 1,323 in operation as of March 23, Shen said. It aims for 900 of the latest power swap stations to be operating this year, he added.
Nio’s battery swap stations also promise to send drivers out with a new, fully-charged battery in just a few minutes, faster than current charging alternatives. In China, Nio set up a company with partners including battery giant CATL to buy the battery packs for leasing and then collect subscription fees from Nio users. Over the past year, Nio has been experimenting with battery leasing and swapping in Norway for its ES8, an electric-drive SUV. The company has sold 800 of the SUVs and installed two swapping stations in Norway, executives said. Nearly all the buyers in Norway and more than half in China have opted for battery leasing, said Shen Fei, Nio's vice-president for power management.
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