Nio Bets $2.6 Billion Against Fast Charging With 1,000 New Battery Swap Stations

Chinese electric vehicle maker Nio is doubling down on battery swapping. The company announced a new $2.6 billion investment in the technology, planning to add 1,000 new swap stations this year. This expansion comes as Nio celebrates its 100 millionth battery swap. The move is a major bet against the industry's dominant trend of fast-charging batteries. Nio's network allows drivers to exchange a depleted battery for a fully charged one in about three minutes. Most stations can guide the car into position automatically. The company built the system to reduce driver anxiety over limited range and long charging times. The company already operates 3,729 swap stations, primarily in China. The technology is only available for compatible Nio vehicles.