Nio Inc‘s NIO first 10 third-generation battery swap stations will reportedly go live at the end of this month, earlier than scheduled.
What Happened: Nio’s first 10 third-generation battery swap stations will go online on March 28, ahead of a previously announced timeline, reported CnEVPost. Nio reportedly posted an article on its mobile app pertaining to the launch.
The Chinese EV maker unveiled the third-generation power swap station on Nio Day in December. The third-generation power swap station adopts a new power swap mode, raising capacity to 408 swaps per day, a 30% increase compared with the second-generation power swap station.
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In February, it was reported that Nio expects to add 1000 battery swap stations in 2023 as opposed to the 400 stations target it announced in December. Nio would have 2,300 battery-swap stations by year-end if the forecast is achieved.
Nio is among the early adopters and proponents of the battery-swapping service over battery charging. Nio claims that it takes just 3 minutes to swap a fully charged battery.
Price Action: NYSE-listed ADRs of Nio closed 2.8% lower on Friday at $8.265, according to data from Benzinga Pro.
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Image and article originally from www.benzinga.com. Read the original article here.