What’s new: Electric vehicle startup Nio Inc. plans to build 1,000 new battery-swapping stations across China this year to serve its business expansion, the company said.
The new facilities will include 400 battery-swapping stations along highways and 600 in urban areas with a focus on the country’s third- and fourth-tier cities and counties, founder and Chairman William Li said Tuesday.
The additions will increase the number of Nio’s battery-changing stations to 2,315. The company decided to accelerate the pace of construction to meet customer demand, Li said.
Background: Nio is among the few EV makers that count on battery swaps as the major power solution for its vehicles. Battery exchanges allow drivers to replace depleted batteries quickly with fully charged packs rather than plugging the vehicle into a charging point.
Nio is expanding its battery swap network as more new models are set to roll off the production line this year. In November the company said it plans to launch five new models in the first half of 2023, on top of eight existing models.
Nio’s deliveries rose 34% in 2022 to 122,486 units. Li said earlier the company expected 2023 sales to top 200,000 units.
Contact reporter Han Wei (weihan@caixin.com) and editor Bob Simison (bob.simison@caixin.com)
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