Nio and Lotus will collaborate in areas including the development and customization of models that support charging and battery swap, and charging connectivity.
(Lotus CEO Feng Qingfeng (left) shakes hands with William Li, founder, chairman and CEO of Nio, at the 2024 Beijing auto show. Image credit: Nio)
Nio (NYSE: NIO) today announced that it has entered into a strategic partnership on charging and battery swap with Lotus Technology (NASDAQ: LOT), a luxury electric vehicle (EV) maker majority owned by Geely Holding.
The two companies will work together on battery standards, charging and battery swap technology, battery asset management and operations, and charging and battery swap service network construction and operations, according to a statement posted on the Nio App.
The two will also collaborate in areas including the development and customization of charging and battery swap-enabled models, and charging connectivity, according to the statement.
Nio has a well-established replenishment infrastructure and is the automotive brand with the most self-built charging and battery swap facilities in China, it said.
As of April 25, Nio had 2,404 battery swap stations in China, 790 of which are located along highways, according to data compiled by CnEVPost.
The company also has 2,205 supercharging stations offering 10,066 charging piles, and 1,574 destination charging stations offering 11,949 charging piles.
Nio's charging piles are open to all EV users, with over 80 percent of the power serving non-Nio-branded EVs, it said, repeating earlier statements.
Lotus CEO Feng Qingfeng gave the battery swap model high marks and wants the two companies to open up and share in the charging and battery swap space, according to Nio's statement.
Geely acquired Lotus, which has a history of about 70 years, in 2017 and owns 51 percent of the latter, including Lotus Cars and Lotus Engineering.
At the end of August 2021, Lotus established a new company in China, Wuhan Lotus Technology, with an investment from Nio Capital.
William Li, founder of Nio and managing partner of Nio Capital, witnessed the launch of Lotus Technology at that time.
Lotus is the latest automaker to partner with Nio on charging and battery swap.
Previously, automakers including Changan Automobile, Geely Holding, Anhui Jianghuai Automobile Group (JAC), and Chery have partnered with Nio on battery swap.
SAIC Motor, Jiyue, Geely Automobile Holdings and Deepal have already announced their access to Nio's charging network.
