Chinese electric vehicle maker Nio is betting that battery swapping will play a critical role in its challenge to Tesla in the world’s biggest car market, even after its US rival shunned the expensive technology.
Battery swapping allows drivers to rapidly exchange their depleted battery for a fully charged one at specially-equipped service stations. In April, New York-listed Nio partnered with state-run oil group Sinopec as part of plans to more than double its network of such stations across China to 500 this year.
Nio also plans to open battery-swapping stations in Norway this year as part of its expansion into Europe.
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