Friday, May 20, 2022

NIO reportedly in talks to license battery swap technology to rivals

NIO is in talks with several other automakers about licensing battery swap technology. The Financial Times reported this today.

The Chinese company is in talks with domestic and international auto groups to open up its network of stations, the report quoted the company’s European president, Zhang Hui, as saying.

finviz dynamic chart for  NIO

NIO wants to sell its battery swap system to other groups to expand the use of the technology, according to the report.

The company believes it offers a way to overcome concerns about chargers, which are limited in number and take time to power up cars, which has deterred many consumers from switching to electric vehicles, the report said.

Carmakers buying the system must use the same batteries as NIO in order to swap them at the swap station, which takes place in a dedicated robotic operating area.

Because the station’s batteries must be able to fit into any car that arrives, another automaker using NIO’s technology will have to build its vehicles using the company’s platform and the specific ratios and design of its batteries, Zhang said.

Notably, NIO executives have repeatedly said that the company’s battery swap system is open to other companies as long as they are willing to use its battery specifications.

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Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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