TTE - NIO takes battery-swapping to Europe as it fights Tesla

Industry-changing technologies can take years or even decades to standardize, and many battles can be waged until a clear victor emerges. One such battle is currently taking place in the EV industry as companies debate the best way to power the cars of the future. NIO (NYSE:NIO), one of China's leading EV makers, is looking to expand the uptake of battery-swapping (it has completed over 4M swaps to date), as it looks to gain ground on other automakers like Tesla (NASDAQ:TSLA) that have turned to recharging stations instead. Quote: "We are open to selling the platform," said Hui Zhang, managing director of NIO in Europe, as the company looks to win over more drivers on the continent (currently one of the most competitive markets for EVs). It follows the recent opening of NIO's first European battery swap station in Norway, which was placed alongside superchargers used by Tesla, in part

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NIO takes battery-swapping to Europe as it fights Tesla