- Nio Power has entered into a partnership with a state-owned company to build 100 battery swap stations in northeast China.
- This is the latest example of Nio's partnership with a state-owned company to build battery swap stations this year.
Nio (NYSE: NIO) has signed a new agreement to build battery swap stations with a partner in northeast China.
Nio Power, the energy arm of the electric vehicle (EV) maker, today signed a partnership agreement with ZDK Group in Shenyang, Liaoning province to build charging and battery swap facilities.
The two plan to work together to build 100 battery swap stations in Liaoning, Jilin, Heilongjiang and Inner Mongolia, according to an announcement posted on Nio App.
ZDK is a large state-owned enterprise in Shenyang, whose main businesses include urban development, industrial operations, engineering construction, logistics and trade, according to the announcement.
The partnership is expected to accelerate the construction of EV replenishment infrastructure in Liaoning, Jilin, Heilongjiang and Inner Mongolia, especially in scenarios such as urban transportation hubs and industrial parks, Nio said.
Negotiations for the partnership took eight months, said Yu Xiwei, Nio's head of energy industry cooperation.
This is the latest example of Nio's partnership with a state-owned enterprise to build battery swap stations this year.
On March 26, Nio signed a strategic cooperation agreement with Beijing-based Future Science City Group to build 100 battery swap stations.
On April 1, Nio signed a cooperation agreement with a subsidiary of the Changsha Economic Development Group to jointly build 100 battery swap stations in Hunan.
On April 9, Nio signed a strategic cooperation agreement with Jining Hi-Tech Holding Group to jointly build 50 battery swap stations in Shandong.
These agreements are part of Nio's Power Up Partners program, announced on August 20, 2024, to build charging and battery swap facilities with partners.
With the Power Up Partners program, Nio hopes to provide partners with a revenue stream and save on capital expenditures while advancing the construction of battery swap stations.
As of today, Nio has 3,319 battery swap stations in China, of which 988 are located along highways.
It has 2,816 supercharging stations providing 12,976 charging piles and 1,738 destination charging stations providing 13,274 charging piles in China.
