The first electric vehicle with swappable batteries co-developed by NIO and its partner will reportedly go on sale in the third quarter of this year, the latest development in the Chinese EV maker’s efforts to expand its battery swapping alliance to other automakers. NIO responded to the news by saying its efforts to promote battery swaps with partners are well underway, without giving further details, Chinese financial media outlet CLS reported. Exeed, a premium EV lineup set up by China’s Chery in 2018, expects the move to lower the threshold of its EVs and therefore boost sales, according to a slide presentation circulated on the Chinese internet. For years, NIO customers have been allowed to purchase cars without batteries, an expensive component of an EV, while subscribing to a battery leasing program. The company has also partnered with several automakers, including Chery, Geely, and Changan, for battery swaps since 2023. [CLS, in Chinese]
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