Nio Partners with FAW for Battery Swapping and Charging

Nio has signed a new deal with Chinese carmaker FAW to expand their battery swapping and charging services.

Through this partnership, Nio and FAW will create a standard battery system and develop electric vehicles that can easily swap-

batteries and use the same charging stations. They will also release cars with standardized battery packs and work-

together on developing integrated charging and swapping systems. Nio has 2,416 battery swap stations and plans to add 1,000 more this year.

According to Reuters, Nio’s CEO, William Li, believes that if their user base grows 100 times from the current-

500,000 users, the battery-swapping services could bring in $10 billion annually.

In recent months, Nio has signed similar battery-swapping agreements with other car companies like GAC Group, Geely,

Chery Automotive, Changan Automobile, JAC, and Lotus. Last week, Nio announced that its new entry-level brand, Onvo, will be compatible with its-

battery-swapping stations. The first model, the L60, competes with Tesla’s Model Y and starts at roughly $30,500, making it about 12% cheaper than Tesla’s version.

The L60 offers different battery options. The basic model can travel 345 miles on a single charge, while the Long Range model can go 454 miles.

An Extra long-range version can also travel over 621 miles. Changing batteries will only take a few minutes at one of Nio’s swap stations.

If drivers need to recharge their L60s, they can use ultra-fast charging thanks to the car’s advanced 900-volt electrical system.

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