Nio's Next-Gen Battery Swap Stations To Go Live Ahead Of Schedule: What You Should Know

Nio Inc‘s NIO first 10 third-generation battery swap stations will reportedly go live at the end of this month, earlier than scheduled.

What Happened: Nio’s first 10 third-generation battery swap stations will go online on March 28, ahead of a previously announced timeline, reported CnEVPost. Nio reportedly posted an article on its mobile app pertaining to the launch.

The Chinese EV maker unveiled the third-generation power swap station on Nio Day in December. The third-generation power swap station adopts a new power swap mode, raising capacity to 408 swaps per day, a 30% increase compared with the second-generation power swap station.

See Also: Best Chinese Stocks

In February, it was reported that Nio expects to add 1000 battery swap stations in 2023 as opposed to the 400 stations target it announced in December. Nio would have 2,300 battery-swap stations by year-end if the forecast is achieved.

Nio is among the early adopters and proponents of the battery-swapping service over battery charging. Nio claims that it takes just 3 minutes to swap a fully charged battery.

Price Action: NYSE-listed ADRs of Nio closed 2.8% lower on Friday at $8.265, according to data from Benzinga Pro.

Also Read: Nio’s Q4 Loss Widens Despite Higher Revenue As Tesla Rival Eyes Long-Term Growth After Year Of Investment

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: AsiaNewsTechMediaBattery SwapChinese EV Stockselectric vehiclesmobility
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...