China’s Nio, Changan Auto team on development of battery swapping platform

On November 21 Changan Automobile and NIO signed the partnership agreement on battery swapping in Chongqing. The two parties will jointly facilitate the formulation of standards for swappable batteries, build and share the battery swapping network, develop swappable vehicles, and establish an efficient battery asset management mechanism….Huarong ZHU, Chairman and Party Secretary of Changan Automobile, and William LI, Founder, Chairman, and CEO of NIO held a dialogue and witnessed the signing of the agreement. The signing ceremony was also attended by Jun WANG, President of Changan Automobile, Hui WANG, Vice President of Changan Automobile, Chenghao DENG, General Manager of Deepal Automobile, Lihong QIN, Co-Founder and President of NIO, and Fei SHEN, Senior Vice President of NIO. NIO is a leading smart electric vehicle company, and the world’s largest operator of battery swapping network for smart electric vehicles. So far, it has over 2,100 Power Swap Stations up and running worldwide. In 2023, NIO plans to install 1,000 new stations in China. As of November 20, NIO had provided over 32M battery swaps for users. …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.””As China is doubling down on new energy and smart connected vehicles, the implementation of NIO’s battery swapping model marks a significant milestone for the industry,” said Huarong ZHU, Chairman of Changan Automobile.Other Publicly traded companies in the space may include: BYD (BYD) Li Auto(LI) XPeng (XPEV) and Tesla (TSLA).