Chinese electric automaker Nio has partnered with another local brand, Chongqing Changan Automobile, to develop innovative electric vehicles with battery swapping capability.
“Over the past five years of development, NIO has accumulated rich experience in research and development, construction and operations of Power Swap Stations, and is ready to open to the entire industry. As a leading automotive company in China, Changan Automobile has demonstrated great determination and strong execution in electrification and transformation. With this partnership, NIO and Changan Automobile will jointly contribute to the development and transformation of the industry.”
Nio CEO/Chairman/Founder William LI
Signing ceremony
Nio disclosed that many important people from both companies attended the signing ceremony, including the Chairman and Party Secretary of Changan Automobile Huarong ZHU and Nio CEO/Chairman/Founder William LI.
Moreover, Changan Automobile President Jun WANG, Changan Automobile VP Hui WANG, Deepal Automobile General Manager Chenghao DENG, NIO President Lihong QIN, and Nio Senior VP Fei SHEN also attended the event to witness the memorable signing agreement between the two companies.
Partnership details
Nio indicated in the press release that its partnership with Changan will primarily cooperate in various areas involving the following:
- “formulation of standards for swappable batteries,
- build and share the battery swapping network,
- develop swappable vehicles,
- establish an efficient battery asset management mechanism.”
Specifically, they will collaborate on swappable EV batteries’ technologies, ownership, maintenance, and financing, Bloomberg reports, citing Nio’s Tuesday announcement. Changan Chairman Zhu Huarong also reiterated plans to expand this initial partnership to other areas like vehicle development.
“The partnership between Changan Automobile and NIO on battery swap is of great importance, contributing to the high-quality development of China’s new energy vehicle industry. This partnership with NIO won’t be limited to battery swaps.
We will continuously strengthen our cooperation in other platforms and fundamental areas, including energy, charging and swapping, vehicle development, and ecosystem, so as to jointly promote the high-quality development of the industry and build a sound, shared, and mutually beneficial ecosystem.”
Chairman and Party Secretary of Changan Automobile Huarong ZHU
What is battery swapping?
Battery swapping is basically the process of quickly “swapping” a discharged or depleted battery pack for a fully charged one.
This cutting-edge technology enables EV owners to avoid longer wait times in traditional EV charging. Considering the fast charging process it facilitates, it has been one of the most prevalent alternatives to charging stations.
Battery swapping stations are also now fully automated, enabling an even faster battery exchange process in just a few minutes.
Nio noted that this partnership aligns with China’s “NewEnergy Vehicle Industry Development Plan (2021-2035), the Implementation Plan for Further Enhancing the Service Capability of Charging and Swapping Infrastructure, and the Notice on Launching Pilot Program of Swappable New Energy Vehicles” programs as the government aims to encourage battery swapping model uptake.
In that sense, Nio claims to be the biggest battery swapping network operator in the world with its more than 2,100 Power Swap Stations. This year, the company seeks to expand this network with another 1,000 new stations in China. It also noted that its battery swapping stations have already provided more than 32 million swaps for customers as of November 20.
This major partnership will undoubtedly aid both Chinese automakers in expanding their electric vehicle business, considering that battery swapping technology has emerged as one of the most viable solutions for the industry’s current charging infrastructure issues. It will significantly alleviate owners’ driving and range anxiety and prevent them from waiting longer in charging stations.
