Nio and CATL to develop battery-swapping network
Shen Fei, senior vice president of Nio, and Yang Jun, general manager of CATL, sign the contract on behalf of both companies.
Electric vehicle maker Nio and battery manufacturer CATL (Contemporary Amperex Technology Co Ltd) have signed an agreement to develop a comprehensive battery-swapping network for passenger vehicles, according to Nio's official website.
The collaboration, sealed on Monday in Ningde, Fujian Province, includes a potential investment of up to 2.5 billion yuan (US$0.34 billion) by CATL into NIO's energy division, strengthening their partnership.
The partnership will focus on creating the world's largest and most advanced battery-swapping network, utilizing CATL's innovative "chocolate battery" technology, a modular battery swap technology developed by CATL.
Both companies will work towards unifying battery standards, promoting cross-brand compatibility, and establishing a full life-cycle management system for batteries, from development to recycling.
Li Bin, NIO's founder, emphasized that this collaboration marks a new era for battery-swapping, expanding NIO's network and enhancing user experience.
CATL's CEO, Zeng Yuqun, highlighted the partnership as a milestone in global energy transformation, aiming to provide safer and more sustainable EV solutions.
With over 3,172 battery-swapping stations already operational, Nio plans to further expand its network, targeting coverage in 27 provinces and over 2,300 counties by the end of 2025.
