NIO Partners with Geely to Expand EV Battery Swapping

The partnership aims to standardize battery swapping technology and expand the network of swap stations.

Chinese EV maker NIO has partnered with Geely, the company behind Volvo and Polestar, to collaborate on EV battery standards, new swapping tech, and network expansion.
Geely is the second company to partner with NIO for battery swapping, following a recent partnership with Changan Auto.
The battery swapping process can be done in as little as 3 minutes, compared to fast charging which can take anywhere from 15 minutes to an hour.
Geely aims to establish 5,000 swap stations by 2025 and currently has around 300 stations up and running.
NIO, facing falling margins and profits amid stronger competition, is looking to expand its brand and improve profitability.