China's Nio to expand battery swap services to gain an edge on EV infrastructure
Publishing timestamp: 2024-04-05 00:20:52
Summary
Nio has been expanding its battery swap partnerships with Chinese automakers to gain an edge in the EV infrastructure. The company has installed over 2300 battery swap stations, but less than a fifth are currently breaking even. Nio's investment in battery swap stations is ahead of market demand, and the company is working on developing longer-lasting batteries with CATL. Other companies like Tesla, Ample, Ford, and General Motors are also making strides in the EV infrastructure space.
Sentiment: MIXED
Tickers: 300750-CN, 9866-HK, NIO,
Keywords: market insider, markets, autos, technology, stock markets, contemporary amperex technology co ltd, nio inc, business news, world markets, breaking news: technology,