Electric power producer Nio to build 1,000 battery swapping stations in China by 2023 | – #Electric #power #producer #Nio #build #battery #swapping #stations #China
SHANGHAI, Feb 21 (Reuters) – Chinese electric vehicle (EV) start-up Nio Inc ( 9866.HK ) will enter China in 2023 10It plans to build 00 battery exchange stations, bringing the total number of such facilities to 2,300 by the end of the year. Founder and Chairman William Lee said Tuesday.
Li Nion’s social Nio will build 400 battery exchange stations along highways and 600 in urban areas, focusing on third- and fourth-tier cities and counties in the country, said in a post on the media platform.
The move marks an expansion in December’s plan to add 400 such stations this year. After visits to northeastern China and lower-tier cities in Zhejiang, Li found that more of them were needed to improve the user experience.
Battery swapping allows drivers to quickly recharge their depleted packs with fully charged packs instead of plugging the car into a charging point substitute allows to do. The switch could help ease the growing strain on power grids as millions of drivers juice up, but experts warn it could be a big hit if batteries are standardized across the industry.
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Nio is among several EV manufacturers betting on battery replacement as one of the key power solutions for electric vehicles. Rival Tesla Inc ( TSLA.O ) previously dismissed the battery replacement as “fraught with problems and not suitable for large-scale use.”
Reporting by Zhang Yan and Brenda Goh; Edited by Christopher Cushing and Muralikumar Anantharaman
Our standards: Thomson Reuters Trust Principles.
2023-02-21 12:17:29
Source – reuters
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