It seems that Nio (NYSE: NIO at https://www.webull.com/quote/nyse-nio) can deal in a great way with the so-called range fear by some electric vehicle experts. The EV manufacturer is now ready to announce its long-awaited connection with China Petroleum & Chemical Corporation and Sinopec in the installation at Sinopec’s gas stations of battery swap. Reports from China The effect is NIO inventory on watch
In the wake of the go-live event of its ‘first second-generation battery swap station’ as a Beijing service, Nio invited the media to sign a Strategic Partnership Deal with Sinopec on 15 April.
Sinopec has 30.000 filling stations in China, and Nio, with a projected 500 at year-end, has 198 battery exchange stations in Nio. For each exchange in less than three minutes, NIO Battery Swap 2.0 stations will perform 312 automatic battery swapping a day. By August, more than 500,000 swaps had been completed.
According to the National Centre for Mobility Management, battery swaps for electricity are not a new concept. Swaps became the core of the disastrous Israeli start-up Better Place, which was attempting to construct a network of stations across the country and the Netherlands before collapsing. The concept was to provide a replenishment swap for cars in about the same period it was needed to fill a typical car gas tank.
As previously stated, on 15 April (NYSE: NIO) will formalise its strategic relationship with Sinopec. The agreement will make it easier for battery exchange stations of second generation to be deployed via Sinopec’s extensive gas station network. This will allow NIO, in turn, to lock into the ecosystem a vast number of current and potential consumers, establishing a kind of hegemony in the largest electric vehicle industry.
The Battery Swap 2.0 stations of NIO will carry out three hundred and twenty automatic battery swaps every day in less than 3 minutes. In 2021, the company expects to build at least five hundred such stations throughout China.
Ford is not expected to tap into this growing network given the patented software that involves using battery swap stations. However, (NYSE: NIO)offers a range of charging options to its customers. These include a home-charging solution known as Power Home and a mobile charge solution known as the Power Mobile, which allows an EV to be charged by a flood of cargo trucks.
The Power Express is also a 24-hour on-demand facility for NIO customers which collects, charges and then discharges EVs at a selected place. NIO users are now able to use a network of more than 300,000 charging stations in China. You can find more stocks like nasdaq uk at https://www.webull.com/quote/nasdaq-uk.