Written by Cláudio Afonso | LinkedIn | X
The Hefei Economic and Technological Development Zone introduced on Thursday subsidies of up to 10,000 yuan ($1,380) for battery swap-compatible electric vehicles as part of a pilot program to promote the battery-swapping model, according to an official government notice.
On its official app, the Shanghai-based EV maker Nio said eligible buyers of models such as Nio’s ET5, ET5T, ES6, and EC6 can receive 6,000 yuan ($827) per vehicle, while purchases of higher-end models like the ET7, EC7, ES8, and ET9 qualify for 10,000 yuan ($1,380) in subsidies.
Nio’s two main factories, known as F1 and F2, are located in the city of Hefei — one of the country’s tech hubs located about 300 miles from Shanghai.
The world’s largest battery maker, CATL — through its joint ventures with established automakers and NEV startups in China — and Nio are among the main beneficiaries of the new subsidy, which is available until March 31.
In mid December, CATL announced its battery swapping ecosystem, the ‘Choco-Swap’ stations, introducing two standardized battery models, named “#20” and “#25,” developed in collaboration with nearly 100 partners.
Commenting on the major investment announced by the world’s largest EV battery maker, Nio’s chief executive said in early February that “the fact that CATL is firmly investing in this sector is a positive sign”, emphasizing the “close partnership” between both companies.
Li added that “many companies are entering the space”, remembering the “strategic cooperation agreements” Nio already signed with Chery, Geely Holding Group, Changan Automobile, FAW Group, Nio’s former manufacturing partner JAC, Lotus, and GAC Group.
CATL’s mid-term target is to reach 10,000 stations and, “as the battery swap ecosystem expands”, grow the network to 30,000.
As of Thursday, Nio has over 3,140 battery swap stations in China and 59 in Europe. Since it opened the first station nearly seven years ago, the company has provided 67.7 million battery swaps.
The company aims to build 2,000 new stations this year taking total figures to about 5,000 stations.
Nio’s registered capital has increased from 7.857 billion yuan ($1.08 billion) to 8.257 billion yuan ($1.14 billion) this Thursday after having added to state-backed Hefei Jianxiang Investment Co., Ltd. and Anhui Gaoxin Yuwen Weiyuan Technology Partnership as new investors.
