According to a Financial Times report, NIO is in talks with peers about licensing its battery swapping technology
This move represents the company’s strategy to win over petrol-driving motorists in Europe. Hui Zhang, NIO’s European president, announced conducting talks with Chinese and international car groups to open a network of charging stations. The company forecasts that the number will rise from 800 to 5,000 globally by the middle of the decade. It aims to have 1,000 swapping stations outside China by 2025. It also targets an expansion in Europe, one of the most competitive EV markets.
NIO is the only company out of 50 working on battery swapping in China that has commercialized the system for cars to date. The battery price accounts for more than 1/3 of the value of a car. By removing the battery from the car’s costs, NIO hopes customers will be able to have access to vehicles far more cheaply.
The news comes after Friday, April 1, when NIO reported vehicle delivery figures. The EV maker said it delivered 9,985 vehicles for March, up 37.6% from a year ago. The overall deliveries included 163 ET7s, NIO’s premium smart electric sedan. In Q1, NIO deliveries grew 28.5% from a year ago to a quarterly record of 25,768 vehicles.
At the moment of writing, NIO stock price was trading more than 1% higher.
Sources: cnbc.com, ft.com