EV Infrastructure

The JV will cater to the ride-hailing market and provide battery swap services for NEVs, CATL said.

Between February 8 and February 18, Nio owners who use battery swap stations along China's highways will be exempt from service fees but will have to pay for electricity.

StarCharge is considering an IPO in Hong Kong, potentially raising about $500 million and seeking a $5 billion valuation, according to Bloomberg.

Nio had raised the price of daily battery upgrades for February a few days ago. February 10-17 is the Chinese New Year holiday.

Nio will raise the cost of battery upgrades on a daily basis by 76 percent between February 1-17, as it expects demand for upgrades to surge during the Chinese New Year travel rush.

A new company called Zhongan Energy was launched today and it will build 1,000 battery swap stations with the support of Nio and two state-owned groups in Anhui province.

Nio said it and JAC, Chery will carry out deep strategic cooperation in battery standards, battery swap technology, battery swap service network construction and operation.

Nio has also signed strategic cooperation agreements with two state-owned groups in Anhui province for energy storage, charging, and battery swap system construction.

The facilities allow vehicles to charge during low electricity use and discharge during peak times, helping to smooth the load on the grid and provide financial rewards for vehicle owners.

China aims for NEVs to become an important part of the energy storage system by 2030, providing tens of millions of kilowatts of regulation capacity to the power system.