Electric vehicle (EV) company Nio Inc (NYSE: NIO) is collaborating with Chongqing Changan Automobile Co. to develop and enhance battery swapping technology.
This partnership will encompass various domains including vehicle ownership, battery technologies, maintenance services, and financing solutions for swappable EV batteries.
Changan Auto chairman Zhu Huarong indicated that the partnership might also extend to vehicle development, per Bloomberg.
The deal aims to offset the high cost of EV batteries and the concerns around charging infrastructure accessibility for potential EV buyers. Battery swapping technology is pivotal in ...