• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 8 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 17 hours "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 2 hours ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 9 hours Wind droughts
  • 6 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 1 day Xi Is Set To Be Re-Elected As China’s Leader
  • 9 days Oil Prices Fall After Fed Raises Rates
  • 7 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 2 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 hour Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 hours Australian power prices go insane
  • 11 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Nio Plans 4,000 Battery-Swapping Stations By 2025

Chinese electric car maker Nio plans to build 4,000 battery-swapping stations worldwide by 2025, Reuters has reported, citing the company’s president Qin Lihong.

Battery swapping is emerging as a quicker alternative to EV charging, which often still takes hours, making EVs less appealing to potential buyers. Yet swapping a battery could take about as little as it takes to fill a tank of gasoline, which may make this approach to charging even more popular in the future.

Nio plans to start small, with 700 battery-swapping stations this year, before adding another three thousand and change over the next five years.

Nio, which debuted in 2014, has enjoyed strong growth for its business, this year entering the luxury sedan segment to compete directly with Tesla. The company’s share price has reflected this, soaring from about $15 in July last year to as much as $61.95 in January of this year. Since then, the stock has declined a bit but is still going strong, just like other EV maker stocks.

Even so, Nio’s stock—and all EV stocks—remain vulnerable to sudden changes like the sharp dip from earlier this week as traders sold out of EVs on fears the industry was getting overheated.

That Nio is betting not only on EVs but also on charging and battery-swapping stations for its international expansion is a smart move that should take away some of the vulnerability specific to the EV making industry.

Europe is Nio’s first overseas target for the battery-swap stations as well as its superchargers and home charging ports. The company said earlier this week that its products have been certified for use across the EU. However, media reports said that its first exports of superchargers, home charging ports, and battery-swapping stations would go to Norway, with four due to be built there by the end of the year.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News