- This is the second such partnership Nio has entered into in the past few days as it continues to push forward with the construction of battery swap stations.
- Nio signed a similar deal in Beijing on March 26 to build 100 battery swap stations together.
Nio (NYSE: NIO) has signed a new partnership agreement to build 100 battery swap stations in Changsha, Hunan province, with a partner, the second such deal in the past few days.
A subsidiary of Nio Power in Changsha and Hunan Oriental Intelligence, a subsidiary of the Changsha Economic and Technological Development Group, signed a cooperation agreement on April 1, according to a statement released today on the Nio App.
The two parties plan to jointly build 100 battery swap stations in Hunan and explore connecting such facilities to Oriental Intelligence's virtual power plants to participate in grid demand response, according to the statement.
The first 10 battery swap stations built by the two companies will be deployed at transportation hubs and industrial parks in Changsha, Nio said.
As of now, Nio Power has more than 90 battery swap stations and more than 630 charging piles in Hunan, providing users with more than 1.5 million battery swap services in total, according to the electric vehicle (EV) maker.
A few days ago, on March 26, Nio announced that it had signed a strategic cooperation agreement with Future Science City Group in Beijing, and the two companies planned to build 100 battery swap stations together.
On October 23, 2024, Nio Power signed a cooperation agreement with Wuhan Shouyi Scientific Innovation Investment Group, and the Hubei state-owned enterprise joined Nio's Power Up Partners program.
The two sides would jointly build 100 stations in Hubei that can provide both battery swap and charging services, making the province's energy replenishment network more dense, Nio said at the time.
Nio announced the Power Up Partners program on August 20, 2024, hoping to work with partners to build charging and battery swap facilities to accelerate infrastructure construction.
Under the program, Nio hopes to save capital expenditure while promoting the construction of battery swap stations by providing partners with a source of income.
Nio's funding for the construction of battery swap stations this year would mainly come from partners, Nio founder, chairman and CEO William Li said in an interview with local media last month.
As of now, Nio has 3,239 battery swap stations and 25,957 charging piles in China.
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