Battery Swap

Mirattery completed a Series C financing of nearly RMB 1 billion ($140 million), an expansion from the RMB 670 million announced in November.

As of December 13, Onvo has deployed more than 2,600 new battery packs, achieving 32.5 percent of its overall target.

Nio Capital is one of Aulton's major shareholders, holding a 5.53 percent stake.

EREV models with large battery packs not only sacrifice interior space but also create unnecessary cost burdens, said Onvo's president.

Nio Power has signed an agreement with a state-owned enterprise in Wuhan for cooperation in the construction and operation of charging and battery swap facilities.

Onvo plans to add over 8,000 new battery packs compatible with its vehicles at battery swap stations by mid-January 2026.

CATL's first battery swap station in Hong Kong is set to start operations soon, with the company planning to expand to six stations by the end of 2026.

CATL and GAC will deepen long-term cooperation in battery rental and joint station construction to fully advance CATL's Choco-Swap ecosystem.

These stations can function as energy storage facilities, helping balance electricity demand during peak periods.

Firefly uses safer, higher-performance liquid-cooled battery packs, while CATL employs air-cooled packs primarily targeting the ride-hailing market, Li said.