The sub-brand of Chery, Exeed, will start producing cars equipped with the battery swapping technology developed by Nio in the third quarter of 2025.
This technology is considered a significant innovation for the automotive industry, as there are more than eight brands that have reached agreements with Nio, yet none have started producing cars with such technology so far.
In January 2024, Nio and Chery signed an agreement for strategic cooperation. This agreement aims to develop unified standards for batteries, create a swapping system, and establish a service network. This initiative will reduce additional costs for consumers and provide convenience.
If each manufacturer has its own standards, it will lead to increased costs and complexities for consumers. Chery and Nio are working to create common standards to address these issues.
Benefits and Prospects
According to Nio's calculations, battery swapping stations need to perform at least 60-70 swapping operations per day to be profitable. With the addition of brands like Chery, the capacity of these stations will increase, making the technology more accessible to a broader audience.
As of today, major companies such as Changan, Geely, JAC, Chery, Lotus Technology, GAC, and FAW have joined the Nio Battery Swap alliance.
