Photo:Xinhua Geely Holding Group and Nio, major players in China's new energy vehicle (NEV) sector, signed comprehensive cooperation agreements on Wednesday, focusing on the battery swapping business. The collaboration could serve as a catalyst for further advancement in the entire domestic NEV industry, experts said.
The deal will help to accelerate the standardization of battery swapping models, and jointly build a new ecosystem for battery swapping and energy replenishment, Li Shufu noted.
BEIJING — China's new energy vehicle supply chain actively seeks enhanced cooperation with global partners despite the recent rise in regulatory scrutiny in Chinese electric vehicles, according to companies at a major Chinese expo focusing on supply chains.
In light of the agreement, both sides will carry out comprehensive cooperation in various fields including developing battery-swapping standards, promoting battery-swapping technology, and swapping network construction, according to media reports.
Li Bin said at the signing ceremony that the cooperation will promote the further popularization of the battery swap model, allow more users to have a high-quality and convenient battery swap experience, and contribute to the high-quality development of the smart electric vehicle industry.
Ningbo Shanshan Co Ltd, a Chinese manufacturer of lithium battery materials, announced plans in September to invest up to 1.28 billion euros ($1.4 billion) in building a new plant in Finland. It is the company's first overseas project.
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