Video Summary
NIO builds automated battery swap stations for its electric cars. Robots swap out the car's battery in minutes while the driver stays in the car. NIO has over 2,100 stations operational in China, with a goal of reaching 2,300 by the end of the year. NIO started operations in Europe two years ago, now operating 30 stations. NIO China averages more than 40,000 battery swaps daily, with peaks of over 60,000. Currently, one battery is swapped every 2 seconds. Users can access the power swap network only if they choose the "battery as a service" option, meaning they don’t own the battery; they lease it. The alternative is to purchase the battery and the car.The idea is that drivers are paying for the always-having-a-fresh-battery-in-their-car service. NIO serves the same amount of users comparable to a charging hub, but uses 1/3 of the space and 1/3 of the grid connection due to charging batteries at a low speed.
Charging at home is the best for those who have a socket to plug in an EV. For people without an opportunity to charge where they park the car, the Power Swap offers a great opportunity to just leave their home, drive to the station, swap the battery, and continue.
Currently, the battery swap stations only work for cars built for it. No other car on the market can use this station except NIO cars.
NIO is signing strategic agreements with big groups like Changan and Geely Group, and there is an opportunity to standardize this technology in China and potentially in Europe. It's costly to build these stations and the company loses money. However, the hope is the initial outlay will be worth it in the end.
Predicting anything about electric vehicles is nearly impossible because the industry is filled with both radical inventions and broken promises.
