EV maker Nio signs partnership deal with Geely to promote battery swapping technology in a bid to ease drivers’ ‘range anxiety’

EV makers Nio and Zhejiang Geely Holding Group, to promote battery swapping technology in a bid to overcome inadequate charging infrastructure

Nio operates more than 2,100 battery-swapping stations across the mainland, which aim to ease EV drivers’ fear of batteries running out between charging stations

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An EV swaps battery at a Nio battery swapping station in Haikou, Hainan Province, China. Photo: Bloomberg

Published: 5:30pm, 29 Nov 2023Updated: 5:51pm, 29 Nov 2023

Electric vehicle (EV) builder Nio will team up with Zhejiang Geely Holding Group, China’s second-largest privately-owned carmaker, to promote battery swapping technology as the two leading EV makers try to overcome the problem of inadequate charging infrastructure in the world’s biggest EV market.

Geely, which has a nearly 6 per cent share of mainland China’s EV market, became the second Chinese automotive giant to adopt this technology, which was created to ease drivers’ range anxiety. Last week, state-owned Changan Automobile, one of the mainland’s four largest state-owned carmaking giants, formed a partnership with Nio to build cars equipped with the technology.

“Nio and Geely share a profound understanding of battery swapping and have been dedicated to the investment in the battery swapping technology and network for private cars and commercial vehicles with rich experience in swapping service and operations,” William Li, co-founder and CEO of Shanghai-based Nio, said in a statement. “This strategic partnership will further popularise battery swapping, bring quality and convenient battery swapping experience to more users, and contribute to the steady development of the smart EV industry.”

Nio’s battery-swapping stations allow owners of the carmaker’s vehicles to quickly exchange a spent battery pack for a fully charged one.

A Nio electric vehicle is seen at a Nio battery swap station on November 13, 2023 in Taicang, Jiangsu Province of China. Photo: Getty Images

The agreement was signed in Hangzhou, in eastern Zhejiang province, where Geely is headquartered, and under this the two companies will jointly create designs for swappable batteries, expand the network of swapping stations and improve operating capabilities. It is similar to the partnership agreement signed by Nio and Changan on November 21.