NIO may build dedicated swap stations for other brands in the future, president says - CnEVPost

NIO may build dedicated swap stations for other brands in the future, president says

When demand is high enough, NIO could consider building dedicated battery swap stations for other brands, which could significantly reduce costs, according to Qin Lihong.

NIO may build dedicated swap stations for other brands in the future, president says-CnEVPost

(Image credit: NIO)

NIO's (NYSE: NIO, HKG: 9866, SGX: NIO) battery swap stations will be more compatible, and it may build dedicated swap stations for other brands in the future, local media outlet The Paper quoted the company's co-founder and president, Qin Lihong, as saying today.

NIO held its second NIO Power Day event today, unveiling the company's latest plans for building replenishment facilities and live-streaming much of the event online.

When demand is high enough, NIO could consider building dedicated stations for other brands to serve nearby owners, which could also significantly reduce costs, Qin said, according to The Paper.

In places where demand for a particular brand is not enough to justify dedicated battery swap stations, NIO may build stations that can meet the battery swap needs of multiple brands, Qin said.

Separately, Shanghai Securities Journal quoted Qin as saying that people should take a more reasonable look at the profitability of NIO's battery swap stations.

It's like a restaurant offering paper towels to customers and you can't expect to make a profit on them, according to Qin.

Good service is one of the reasons why NIO's prices are higher than those of many international brands, and battery swap is an important part of that, according to Qin.

High-end new energy vehicle (NEV) brands need to provide better service, and people should not look at the battery swap business out of that context, Qin said.

At NIO Power Day today, Qin teased the company's third-generation battery swap station, saying it will have more capacity and a more flexible layout.

NIO's third-generation battery swap station is nearing the end of development and is being tested and will be detailed by the end of the year or early next year, Qin said, without providing further details.

The company put 12 new battery swap stations into operation in China today, bringing the total to 1,011 and officially crossing the 1,000th milestone.

Phate Zhang/CnEVPost: Phate is the founder and main author of CnEVPost. He has been reporting since 2009, mainly on macroeconomics and capital markets. Contact via: [email protected]
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