Nio, the Chinese electric car company, has announced a collaboration with CATL, a major electric vehicle battery manufacturer, to expand battery swapping stations for electric cars. This allows electric cars to quickly swap batteries at service centers without waiting for recharging.
In this partnership, CATL will buy shares of Nio worth 2.5 billion yuan. Nio will utilize CATL’s Choco-swap battery swapping technology for future models under the Firefly brand. Additionally, both companies will collaborate on research to develop longer-lasting batteries to reduce costs for customers, aiming for an average battery lifespan of 15 years.
Nio currently has 3,172 electric charging stations in China, which will be upgraded to support battery swapping services. CATL plans to expand its battery swapping stations to 1,000 locations by the end of this year.
Battery swapping for electric vehicles is a trend that eliminates the need for long charging times. Just yesterday, BYD introduced fast charging technology with a capacity of 1 megawatt, capable of charging in just 5 minutes for a 400-kilometer travel range.
Source: South China Morning Post
TLDR: Nio partners with CATL to expand battery swapping stations for electric cars, aiming for longer-lasting batteries and quick swaps without the need for long charging times.
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