China's Nio and Changan Auto Collaborate on Battery-Swapping EVs
Chinese electric vehicle maker Nio has announced a partnership with Changan Automobile to jointly develop battery-swapping electric vehicles. The collaboration will also involve the construction and sharing of battery-swapping stations and the standardization of batteries. Nio aims to improve profitability by reducing costs and increasing efficiency amid growing competition in the EV market. Battery swapping allows for quick replacement of depleted packs with fully charged ones, potentially easing strain on power grids. Nio plans to expand its battery swapping stations in China, while other EV makers prefer fast charging technologies and extended-range hybrid models.