China’s Niok is betting on a Tesla challenge to exchange batteries
Chinese electric vehicle manufacturer Nio has pledged that changing batteries will play a key role in the challenge Tesla faces in the world’s largest car market, even after its US rivals have abandoned expensive technology.
Replacing the battery allows drivers to quickly charge another used battery at a specially equipped service station. In April, it partnered with New York-listed Nio-listed oil company Sinopec as part of plans to double the network of such stations across China this year.
Nio also plans to open battery exchange stations in Norway this year as part of its expansion into Europe.
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NIO Inc (NYSE:NIO), China Petroleum & Chemical Corporation (NYSE:SNP) - Chairman Of Oil Giant Sinopec Visits Nio Battery Swap Station
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