Tagged: China

NIO reaches 20 million battery swap service milestone

's battery swap stations now provide over 45,000 services per day.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) today saw its cumulative battery swap service reach 20 million, with an average of 45,000 services provided daily.

The electric vehicle (EV) maker announced the milestone today on its mobile app, just 273 days, or nine months after it saw its 10 millionth battery swap service on July 4 of last year.

It took the company 1,506 days, or more than four years, to see its first 10 million battery swap services provided.

On February 5, more than 60 percent of the power NIO provides to owners was provided through battery swap stations, and the facility has become a favorite way for NIO customers to replenish their vehicles, it said.

Currently, NIO's battery swap stations provide an average of more than 45,000 services a day, which equates to an average of one NIO vehicle receiving a fully charged battery from these stations every 1.9 seconds.

The 20 million battery swap services can support more than 5,106 million kilometers of driving and reduce carbon emissions by about 550,286 tons, the company said.

NIO's battery swap stations not only provide vehicles with fully charged batteries but also allow owners to easily upgrade their battery packs.

To date, NIO has provided 63,136 battery upgrades to customers, allowing them to continue to enjoy the benefits of battery technology advancements, the company said.

As of today, NIO has 1,327 battery swap stations and 2,442 charging stations in China, according to data monitored by CnEVPost.

The company's goal is to add 1,000 battery swap stations this year, bringing the facility to 2,300 in China by the end of 2023.

The aggressive infrastructure goal is one of the ways to boost sales, and the company's co-founder and president, Qin Lihong, said in a recent interview with local media that the company hopes swap stations will serve partly as showrooms in less developed cities.

On April 1, William Li, founder, chairman and CEO of NIO, reiterated that the company's of battery swap station network is open to other brands and compared the service to cloud services.

NIO's battery swap stations have a good degree of adaptability and the time has come to offer their output to the outside, Li said.

NIO's battery swap network open to other brands, just like cloud service, says William Li

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BYD chairman calls on China to extend NEV tax exemption until 2025

The world economy is currently in a difficult period of complexity and change, and dealing with risks and challenges requires firm confidence and stable expectations, Wang said.  |  BYDDY.US | HK

(Image credit: CnEVPost)

China's purchase tax exemption for new energy vehicles (NEVs) expired at the end of last year and has been extended until the end of this year. Now, calls are starting to emerge for the policy to be renewed.

Wang Chuanfu, chairman and president of BYD (OTCMKTS: BYDDY), suggested in an April 1 speech at the China EV 100 Forum that China should extend the NEV purchase tax exemption to 2025, hoping the move would be fast-tracked to stabilize expectations, according to a video replay seen by CnEVPost.

Before 2023, China's policies to support the NEV industry include purchase subsidies as well as exemptions from purchase taxes.

NEV purchase subsidies have been reduced each year over the past several years on a set schedule and were completely withdrawn when they expire at the end of 2022.

The NEV purchase tax exemption originally expired at the end of 2017, but was renewed until the end of 2020 before it expired, and in March 2020, China renewed the policy until the end of 2022. Last year, the policy was renewed again until the end of 2023.

The world economy is currently in a difficult period of complexity and change, and dealing with risks and challenges requires firm confidence and stable expectations, Wang said, adding that many overseas countries are increasing their fiscal support for NEVs.

China's purchase subsidies for NEVs were withdrawn at the end of last year, and the exemption of NEV purchase tax has been clarified to continue until the end of this year, Wang noted.

Considering the long development cycle of NEVs, from product development and design to cost management, long-term arrangements need to be made, so he hopes the NEV purchase tax exemption policy will be extended, according to Wang's speech.

In addition to Wang, Meng Xia, head of sales for Volkswagen China, also suggested at the China EV 100 Forum event that China should extend the purchase tax exemption for NEVs beyond 2023 and develop a relatively stable policy framework.

It is worth noting that with the rapid growth of NEV penetration, the continued extension of the purchase tax exemption for such vehicles would mean a bigger loss in government tax revenue.

For the full year 2022, retail sales of new energy passenger vehicles in China were 5.67 million units, up 90 percent year-on-year and accounting for 27.6 percent of all new passenger vehicle sales, according to data released by the China Passenger Car Association (CPCA) in January.

In February, retail sales of new energy passenger vehicles in China were 439,000 units, up 61 percent year-on-year, contributing 31.6 percent of all passenger vehicle sales.

In the future, as the ownership of conventional internal combustion engine vehicles shrinks dramatically, the shortfall in national tax revenue will need to be filled by a tax system for electric vehicles, the CPCA said in a report released on August 9, 2022.

Taxing electric vehicles at the point of purchase and use and even at the point of retirement is a definite trend, the CPCA said at the time.

BYD aims to sell at least 3 million vehicles this year

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Lithium carbonate prices likely to fall below RMB 100,000, says chairman of battery maker Farasis Energy

Lithium prices continue to fall in China today, with the average price of industrial-grade lithium carbonate falling below RMB 200,000 per ton for the first time in the current down cycle.

Lithium carbonate prices likely to fall below RMB 100,000, says chairman of battery maker Farasis Energy-CnEVPost

A Chinese battery maker's chairman believes lithium carbonate prices could even fall below RMB 100,000 ($14,530), with the battery raw material not seeing a single day of gains this year.

In 2022, the supply and demand for lithium carbonate and lithium hydroxide were actually in balance, and there was a lot of hype behind the price surge, Farasis Energy's chairman Wang Yu said in an interview during the China EV 100 Forum yesterday, according to Yicai's report.

Based on this situation this year, the price of lithium carbonate is expected to drop rapidly, Wang said.

Lithium carbonate prices have already dropped to RMB 250,000 per ton and are expected to drop further, to below RMB 100,000 is very likely, he said.

Lithium carbonate prices in China continued to fall today, with the average price of industrial-grade lithium carbonate falling below 200,000 yuan per ton for the first time in the current down cycle.

Battery-grade lithium carbonate fell RMB 12,500 per ton today to an average price of RMB 232,500 per ton, while industrial-grade lithium carbonate fell RMB 10,000 per ton to an average price of RMB 195,000 per ton, according to figures from Mysteel monitored by CnEVPost.

Lithium carbonate resources are not in short supply, and the raw material is not very difficult to produce now, and the industry will return to its normal operations, Wang said.

The actual cost of lithium carbonate per ton is around RMB 30,000, and there is no reason for it to go up to RMB 500,000 or 600,000, he said.

The automotive and battery industries contributed at least RMB 100 billion in profits to the lithium industry last year due to rising raw material prices, Wang said.

At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 per ton in China, about 14 times the average price of RMB 41,000 per ton in June 2020.

Since then, lithium carbonate quotes have continued their downward spiral, and have not seen a single day of gains this year.

The price of lithium carbonate depends on demand and supply, as well as the price sensitivity of car companies, Wang said.

In the past, new energy vehicle (NEV) sales have soared, and car companies have lost a lot of money to complete their performance, he said, adding that for many automakers, they may cut production if raw material prices do not meet expectations this year.

In addition, the mass production of sodium-ion batteries has already caused an impact on the lithium carbonate and lithium hydroxide industries, Wang said.

On February 23, battery maker Hina Battery unveiled three sodium-ion battery cell products and announced a partnership with Anhui Jianghuai Automobile Group Corp (JAC), which made one of its models the first to carry sodium-ion batteries.

Farasis Energy's sodium-ion batteries will also enter mass production this year and will be used in the short term for budget models with a range of up to 300 kilometers and in the medium term for models with a range of up to 500 kilometers, Wang said.

Farasis Energy installed 0.19 GWh of power batteries in China in February, ranking No. 9 with a 0.88 percent share, according to data released last month by the China Automotive Battery Innovation Alliance (CABIA).

Lithium carbonate prices likely to fall below RMB 100,000, says chairman of battery maker Farasis Energy-CnEVPost

($1 = RMB 6.8844)

Analysts explain how falling lithium carbonate prices affect EV costs

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XPeng starts warming up for G6, releases official ‘spy shot’

Update: Added more pictures about G6 shared by .

XPeng management previously said that the G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 - 300,000.  |  XPeng US | XPeng HK

XPeng (NYSE: XPEV) is starting to warm up for the G6, with the new model set to make its official debut at the Shanghai auto show in half a month.

The electric vehicle (EV) maker shared a "spy shot" of the G6 on April 3, showing the SUV's exterior but not revealing any other information.

On April 4, XPeng shared three additional images of the G6.

On March 17, XPeng management said during the company's fourth-quarter earnings call that the G6, a new energy SUV in the price range of 200,000 yuan ($29,020) to 300,000 yuan, will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter.

The upcoming biennial Shanghai auto show will be held from April 18 - 27, with April 18 - 19 being the media days, April 20 - 21 being the professional visitors' days, and the general public being admitted from April 22 - 27.

XPeng's monthly sales target for the G6 is 2-3 times that of the P7, He Xiaopeng, the company's chairman and CEO, said on the call.

The G6's range will be significantly improved and will exceed expectations, and the interior space will be much larger than similar offerings from competitors, he said.

Earlier this month, the XPeng G6 appeared on a regulatory filing list in China, where its core specifications were disclosed.

The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to those filing pages.

The G6 will compete with 's (NASDAQ: TSLA) Model Y, XPeng management previously mentioned. The Tesla crossover has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm, respectively, and a wheelbase of 2,890 mm.

The XPeng G6 will be available in single-motor and dual-motor versions, the former with a 218 kW peak power motor and the latter with an additional motor with 140 kW peak power.

The upcoming G6 will be the swing factor and the model will need to be successful to make XPeng truly relevant in the market again, said Deutsche Bank analyst Edison Yu's team in a research note sent to investors on March 22.

XPeng's monthly sales target for the G6 is two to three times that of the P7, meaning at least 5,000 units per month for the G6 based on a trailing six-month average, Yu's team noted.

XPeng may price the G6 similarly to the Tesla Model Y, hoping to attract consumers with its sleeker design and updated interior, the team said.

($1 = 6.8928 RMB)

G6 will be swing factor for XPeng, says Deutsche Bank

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Tesla delivers record 422,875 vehicles globally in Q1

's first-quarter deliveries were higher than 's 264,647 passenger BEVs, but lower than the latter's 552,076 NEVs, including PHEVs.

Tesla saw record electric vehicle (EV) deliveries in the first quarter, as price cuts reinvigorated demand.

The US EV maker delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units a year earlier and up 4.34 percent from 405,278 in the fourth quarter, according to its announcement on April 2.

The deliveries exceeded Wall Street analysts' expectations of 421,200 units, with Tesla's cheaper Model 3 with Model Y deliveries exceeding expectations.

Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500. A total of 10,695 Model S and Model X units were delivered, below expectations of 16,700.

Tesla produced 440,808 vehicles in the first quarter, including 421,371 Model 3 and Model Y, and 19,437 Model S and Model X.

"We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC," Tesla wrote in an announcement.

The company will announce its first-quarter financial results after the market closes on Wednesday, April 19, and its management will hold a live webcast question-and-answer session at 4:30 pm US Central Time that day.

Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after its move in China on January 6.

In China, Tesla has a factory in Shanghai that makes the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.

Tesla does not publish its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.

Tesla's deliveries in China in January and February were 26,843 and 33,923 units, respectively, and its Shanghai plant exported 39,208 and 40,479 units in the two months, according to the CPCA. March figures are expected to be available in the next few days.

BYD (OTCMKTS: BYDDY) and Tesla are the two biggest players in China's new energy vehicle (NEV) market, with the former producing plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs) and the latter producing only BEVs.

Tesla delivered more BEVs than BYD in the first quarter, but the latter's combined sales of PHEVs and BEVs were larger.

In the first quarter, BYD's NEV sales, including PHEVs and BEVs, were 552,076 units, up 92.81 percent year-on-year but down 19.22 percent from the fourth quarter of last year, according to data released yesterday.

BYD's passenger BEVs sold 264,647 units in the first quarter, up 84.78 percent year-on-year but down 19.56 percent from the fourth quarter.

BYD's passenger PHEVs sold 283,270 units in the first quarter, up 100.17 percent year-on-year but down 19.76 percent from the fourth quarter.

BYD sells 207,080 NEVs in Mar, up 6.9% from Feb

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BYD Mar sales breakdown: Qin 40,850, Song 40,510

The Qin family of models sold a record 40,850 units in March, surpassing the Song family's 40,510 units to become the best-selling model for the month.

BYD today announced its new energy vehicle (NEV) sales for March and later provided a breakdown of the figures for different models.

The Qin family of models sold a record 40,850 units in March, making it the highest-selling BYD model for the month and contributing 19.8 percent of the NEV maker's passenger NEV sales in March.

The sales were up 64.74 percent from 24,797 units in the same month last year and up 33.76 percent from 30,540 units in February, according to data monitored by CnEVPost.

In the first quarter, the Qin family of models sold 85,575 units, up 12.83 percent from the same period last year.

On February 10, BYD let a facelift of the plug-in hybrid sedan Qin Plus DM-i go on sale, offering five versions with a starting price range of RMB 99,800 ($14,530) to RMB 145,800.

This is the first time BYD has made a model with its DM-i powertrain start at less than RMB 100,000.

The Song family -- the top-selling BYD model in many previous months -- sold 40,510 units in March, second only to the Qin family model.

Sales of the family models in March were up 51.56 percent from 26,729 units in the same month last year but down 22.69 percent from 52,400 units in February.

This is the lowest sales for the Song family of models since July 2022. The family sold a record 70,079 units in December of last year.

In the first quarter, Song family models sold 142,775 units, up 93.69 percent from the previous year.

The Yuan family sold a record 40,400 units in March, making it the third highest-selling BYD model for the month.

This represents a 213.64 percent increase from 12,881 units in the same period and a 20.20 percent increase from 33,612 units in February.

The Yuan family of models sold 97,243 units in the first quarter, up 219.56 percent from the same period last year.

BYD Dolphin also sold a record 30,077 units in March, up 186.42 percent year-on-year and 31.56 percent from February.

In the first quarter, BYD Dolphin sold 70,567 units, up 137.86 percent year-on-year.

The BYD Han family of models sold 13,550 units in March, up 9.64 percent year-on-year and up 9.77 percent from February.

The f Han family sold 38,109 units in the first quarter, up 10.69 percent year-on-year.

The BYD Tang family of models sold 12,133 units in March, virtually unchanged from 12,029 units in February and up 26.06 percent from a year ago.

Tang family models sold 33,052 units in the first quarter, up 13.54 percent from a year ago.

The BYD Frigate 07 sold 8,150 units in March, up 26.77 percent from February. The model went on sale on December 9, 2022.

The BYD Seal sold 6,000 units in March, down 22.62 percent from February. The model went on sale on July 29, 2022.

BYD Destroyer 05 -- which went on sale on March 17, 2022 -- sold 3,911 units in March, up 164.97 percent year-on-year but down 21.31 percent from February.

BYD announced earlier today that it sold 207,080 NEVs in March, including 206,089 passenger vehicles, and 991 commercial vehicles.

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BYD sells 207,080 NEVs in Mar, up 6.9% from Feb

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BYD sells 207,080 NEVs in Mar, up 6.9% from Feb

This article is being updated, please refresh later for more content.

sold 207,080 new energy vehicles (NEVs) in March, up 97.45 percent from 104,878 units in the same month last year and up 6.93 percent from 193,655 units in February.

The company discontinued the production and sales of vehicles powered entirely by internal combustion engines in March last year to focus on the production of plug-in hybrids and pure electric vehicles.

BYD's NEVs include passenger cars as well as commercial vehicles, and they sold 206,089 units and 991 units in March, respectively.

Among these passenger vehicles, battery electric vehicle (BEV) sales were 102,670 units, up 91.32 percent from 53,664 units in the same month last year and up 13.27 percent from 90,639 units in February.

Plug-in hybrid vehicles (PHEVs) were 103,419 units, up 104.09 percent from 50,674 units in the same month last year and up 2.37 percent from 101,025 units in February.

In March, BYD sold 13,312 NEVs in overseas markets, down 11.27 percent from 15,002 units in February.

The company first announced overseas sales figures for NEVs in July 2022.

In addition to being China's largest NEV company, BYD is also the country's second-largest power battery maker.

BYD's installed power and storage battery capacity in March was about 9.891 GWh, up 84.77 percent from 5.353 GWh in the same month last year and up 10.49 percent from 8.952 GWh in February.

In the first quarter, BYD's NEV sales were 552,076 units, up 92.81 percent from 286,329 units in the same period last year, but down 19.22 percent from 683,440 units in the fourth quarter last year.

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China EV 100 Forum: NIO’s William Li’s full speech

has nearly completed 20 million battery swap services, with an average of one NIO vehicle leaving a battery swap station with a fully charged battery every 1.9 seconds, said Li.  NIO US | NIO HK | NIO SG

The China EV 100 Forum, held in Beijing from March 31 to April 2, brought together some of the biggest names in China's automotive industry.

William Li, founder, chairman and CEO of NIO (NYSE: NIO), spoke at the event on April 1.

Below is the full text of Li's speech, translated and edited by CnEVPost.

Dear chairman Wan, president Qingtai, minister Miao, and distinguished guests, I am very glad to have the opportunity to share some of NIO's latest ideas.

Last year we delivered 122,486 units of high-end smart electric vehicles, which is not a lot compared to our peers, especially compared to .

However, the average price of the vehicles we delivered last year reached RMB 437,000. It can be said that each NIO has witnessed the upward upgrade of China's auto brands.

In the fourth quarter of last year, we had a 54.8 percent market share in the premium EV segment above RMB 300,000 and a 75 percent market share in the premium EV segment above RMB 400,000, and we're doing pretty well in terms of share.

It's true that everyone is facing a lot of difficult choices today, and the uncertainty in the industry is very high.

In our transition from fuel to electric vehicles, what should be the pace of development of the industry? I think we all have a lot of confusion, including myself. These are some of the very difficult choices we are facing.

NIO is a start-up company, and we are not in a position to stop and think too much.

We are determined to invest for the final win while ensuring the risk of our operation is manageable and improving efficiency, which is one of the things we have thought through.

We are investing in three main areas.

First, we are continuing to invest in core technology research and development.

Last year, NIO did lose some money, but I still want to tell you that it was mainly in R&D. However, the money lost on R&D, I think it is an investment.

NIO has been making R&D layouts globally since its creation in 2015. Even in 2019 when the company was about to close, we did not close the office in Europe, we did not close the office in Silicon Valley.

We have now established more than 10 R&D centers in the US, Europe and China.

Our R&D investment in the fourth quarter of last year was close to RMB 4 billion, and our annual R&D investment for the year reached RMB 10.8 billion.

Last year, our annual revenue was nearly RMB 50 billion, so I should say that the proportion of R&D investment is very high.

We will further increase our R&D investment this year, and are now making a comprehensive investment in the full-stack capability of intelligent electric vehicles, including chips, underlying operating systems, materials, and battery cells.

From day one, NIO has never taken anything from anyone else for reverse R&D. We started from a single line to build our cars, electric technology, intelligent technology, and all-aluminum body.

We did all of these ourselves, and this has been our tradition since 2015.

We now have over 10,000 R&D staff and we will still hire close to 2,000 recent college graduates this year and will train them for the long term.

NIO has been granted more than 6,000 patents covering the entire full stack of smart electric vehicle technologies.

We are very pleased to see that we have won the first prizes in the Chinese automotive industry for two consecutive years in 2021 and 2022, and these are the recognition of us.

Not only in China, but also in Europe, our ET7 won the most weighty model award in basically every country we entered last year.

For example, last year we won the most influential "Golden Steering Wheel" in Germany. This is the highest award for mid to large-size cars and the first time that a Chinese brand has won such an award in Germany. We can say that these have witnessed the upward journey of our brand.

Second, one of the directions we have resolutely invested in is the continuous construction of charging and battery swap infrastructure.

Charging and battery swap infrastructure is one of the most important factors determining the user experience of electric vehicles.

When we started research and development in 2015, we set down the service system of chargeable, swappable and upgradable.

In terms of charging piles, we have gone to a lot of trouble in helping users to install more than 180,000 charging piles.

We also installed more than 14,000 public charging piles, and this is open, more than 80 percent of the power is used by non-NIO owners. This includes , BYD, and many of our peer brand vehicles.

We have access to over a million third-party charging piles globally, and in both China and Europe, we have partnered with the most important local charging pile operators.

We just installed 500 kW ultra-fast charging piles two days ago, which has a bi-directional charging module that we developed ourselves.

This supercharger can in fact reach 650 kW power, and together with our battery swap stations, it can increase the efficiency to a very high level. We are now mainly building integrated stations with both battery swap service and charging piles.

We have deployed 52 destination charging routes in China, such as the route from Sichuan to Tibet and the route to Everest Base Camp.

We will deploy destination charging routes to our customers whenever they want to go, and we will add more than 20 routes this year.

We have already built 1,326 battery swap stations in China, in this picture is the one in Lhasa.

We have also deployed 13 battery swap stations in Europe, and they have been well received in five European countries.

Two days ago we just commissioned our third generation battery swap stations in Hainan, and battery swap has become the most popular way to replenish energy for NIO users.

On February 14, 2022, for the first time, the power provided by our battery swap stations exceeded that provided by charging facilities, and now the ratio has reached 60 percent.

In addition to charging at home, owners are essentially using battery swap stations, and that percentage is much higher than we had anticipated.

We are close to completing 20 million battery swaps, which should be seen in the next two days. On average, every 1.9 seconds an NIO vehicle departs from a battery swap station with a fully charged battery.

Battery swap has many advantages, I won't go into details here.

We have already built a network of battery swap stations covering five vertical highways, three horizontal highways, and eight city clusters.

By 2025, we will have a network of battery swap stations covering 9 vertical highways, 9 horizontal highways, and 19 city clusters, and by then NIO car owners will be able to travel on highways without worry.

Our goal for this year is to add 1,000 battery swap stations, and by the end of this year, we will have 2,300 stations.

We will also add 10,000 new battery swap stations, and in fact, we are the most aggressive car brand in China in deploying battery swap stations.

People always think of battery swap when they think of NIO, but we're actually doing a great job with charging facilities as well.

That's the second point, we will be determined to build the infrastructure.

Third, we will enter the global market with the determination to serve more customers.

On September 30, 2021, we started to deliver in Norway. Many of our Chinese counterparts deliver vehicles in Norway, and we have reached the first and second places in some segments.

On October 7 last year, we officially announced our entry into Europe in Germany, the Netherlands, Denmark and Sweden.

We had a European launch event in Berlin with more than 1,000 guests, which was well received by everyone.

On October 16 last year, we officially started to deliver vehicles in four European countries.

In fact, just two days ago, we just opened our NIO House in Frankfurt, after having opened our NIO House in Berlin and NIO House in Rotterdam.

Overall, this is indeed a particularly challenging time, and NIO has chosen to do the right thing in the long run by making a long-term investment. We believe that this kind of investment will eventually reap good results.

This is also a photo of one of our horizons in the Netherlands, taken by a Dutch photographer, heralding a field of hope.

I believe that the development of smart electric vehicles is a difficult journey, and the road ahead is long and full of obstacles. But if we move forward, we will reach our goal. The future is promising.

I hope we can have a bright future together, thank you.

NIO's battery swap network open to other brands, just like cloud service, says William Li

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NIO’s battery swap network open to other brands, just like cloud service, says William Li

's battery swap stations are well adapted and the time has come to offer output to other brands, according to Li.  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

The man at the helm of NIO (NYSE: NIO) reiterated that the company's battery swap stations network is open to other brands, and compared the service to a cloud service.

NIO wants other companies to share and build battery swap infrastructure with it, said William Li, the company's founder, chairman and CEO.

Li mentioned this during a media group interview on April 1 during the China EV 100 Forum, saying that there have been discussions between other car companies and NIO on the matter, according to a report today by local media outlet The Paper.

"I met with several company executives today and they asked me how we could work together, and we're open to that," he said.

With 80 percent of the power provided by NIO's charging stations being used by other brands of electric vehicles, it's feasible for the company to offer battery swap services to other car companies, he said, adding that it's just that other automakers would need to design vehicle chassis based on the specifications of NIO's battery packs.

NIO's battery swap stations have a reasonable degree of adaptability, and the time has come to provide output to the outside, Li said.

He said the company calls its battery swap model "battery as a service (BaaS)", an innovation that can be understood through the lens of cloud services.

Cloud services around the world, whether they are offered by Microsoft, Google and Amazon in the United States or Alibaba, Tencent and in China, they all have one thing in common: The companies themselves are the primary users.

"You certainly can't achieve this kind of service if you're not the biggest user yourself," he said.

On top of being available for their own use, such systems need to be open, and the hardware interfaces, software interfaces, and operational interfaces all need to be complete, said Li.

NIO's battery swap stations are being offered for two generations of vehicle platforms and have supported six models so far, including models from 2018 to 2023.

"I think it's very well adapted and the internal interfaces are very mature," Li said, adding, "We feel that the time has come for it to provide output to the outside world, and we are very willing to explore that with our peers."

It's a bit like Amazon's cloud service, which requires the company to sort out internally the timeline for offering the service externally, he said.

However, Li also noted that, like the time it takes to migrate when using new cloud services, the matter of NIO's battery swap service being available to other brands requires peers to work together to plan ahead before it can be realized in two or three years.

NIO aims for swap stations to serve partly as showrooms in underdeveloped cities

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