Battery swapping in the passenger vehicle market could see a second wind. While Tesla dismissed its viability following an unsuccessful pilot programme in 2015, Nio has forged ahead. As of December 2023, it operates more than 2,000 swap stations in China and 35 in Europe. Eric Li, Founder and Chairman of Nio’s parent company Geely, described the technology as “one of the most innovative methods for recharging electric vehicles (EVs)”, while also noting that its success requires an industry-wide effort to support and advance it.
