Chinese automaker Geely—parent company of Volvo, Polestar, and Lotus—has signed an agreement with Nio to use the latter’s battery-swapping tech in the Chinese market.
Under the agreement, the two companies “co-develop two battery swapping standards for private cars and commercial vehicles,” promote adoption of the technology, and scale up battery-swapping operations, according to a Geely press release.
The agreement also calls for development of a “unified battery swap operation,” including interoperability between the battery-swapping hardware of both manufacturers. A timeline for meeting these goals was not given, however.
2024 Volvo EM90
Nio rolled out battery swapping in 2019 as a “killer app” for the brands EVs that differentiated them among many other brands—suggesting a fully charged battery in 3 minutes. The company claimed to have hit 1,000 battery-swapping stations last year.