NIO, State Grid’s subsidiary to co-build 100 battery swapping stations in 2021

Shanghai (Gasgoo)- NIO and State Grid Electric Vehicle Service Co., Ltd. (State Grid EV Service), a wholly-owned subsidiary of China’s mammoth electricity provider State Grid, signed on Dec. 14 a framework agreement for an in-depth cooperation on electric vehicle (EV) charging, battery swapping and energy services.

NIO, State Grid EV Service signing agreement; photo credit: NIO

Under the agreement, two companies will strive to co-construct 100 battery swapping stations nationwide in 2021, aiming to make all charging and battery swapping facilities fully connected, improving energy supply experience for users, and further lowering TOC (total ownership cost) of EVs.

Leveraging both parties' technical edges and resources, NIO and State Grid EV Service will jointly explore the innovative business models for EV charging, co-build charging and battery swapping stations, and work together on promoting the consumption of clean energy.

Thanks to the governmental supports in driving the energy strategic transition, China is facing growth in the installed capacity of clean energy. NIO and State Grid EV Service are making joint efforts to prompt clean energy in EV charging. Offering preferential electricity price and subsidies, both parties are encouraging users to engage in green power transaction, bolstering the consumption of clean energy, and pushing ahead with the development of low-carbon full lifecycle of NEVs.

NIO and State Grid EV Service are jointly working on the development of V2G (vehicle-to-grid) technologies. Using V2G, the two companies intends to encourage EV users to have their cars charged during the low demand hours, and help reduce the peak amount of load and shift it to times of lower load to improve the utility efficiency of power grid.