Automobile

China’s Nio Plans EV Battery Lease and Swapping Network in Europe

According to a report, China’s Nio is hoping to get a larger share of the electric vehicle market in Europe by offering consumers lower pricing through battery lease programs, which are supported by an expanded network of electric vehicle battery swap stations.

According to Qin Lihong, co-founder and president of NIO, said that it is planning to erect 1,000 battery swap stations outside of China over the upcoming three years, most of which will be in Europe to support its expansion of electric vehicle sales to markets such as Germany and beyond.

Over the past year, NIO has been testing its battery leasing and swap station businesses in Norway with its ES8 SUV, which is NIO’s first model to be sold outside of China. According to NIO, it has over 800 ES8s so far, but it has only installed two swap stations, and almost all customers in Norway opted for battery leasing.

Qin Lihong said that, the first overseas plant of NIO has opened in Hungary and will produce battery swap stations for the European market since the shipping from China is too expensive. NIO will start launching its ET7 and ET5 sedans in Europe as it is continues to build out its network of battery swap stations.NI

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