Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Nio Confirms New Plant for Battery Swap Stations in Europe

Published 06/16/2022, 12:31 PM
Updated 06/16/2022, 05:03 PM
© Reuters Nio (NIO) Confirms New Plant for Battery Swap Stations in Europe

© Reuters Nio (NIO) Confirms New Plant for Battery Swap Stations in Europe

By Michael Elkins

NIO (NYSE:NIO) held a communications event with some users in Hefei Thursday morning where the company was able to confirm a new European plant to produce battery swap stations.

As initially reported by EV on April 15, the EV maker started looking for an EU Plant Manager in Hungary last April. The company aims to produce Battery Swap Stations (BSS) and Charging Piles in Europe to avoid exporting costs from China.

When asked about the Battery Swap Stations, CEO William Li started by enhancing the effects of the pandemic during the last months on the production.

“The layout of the power station has been greatly affected by the epidemic in Shanghai this year. The production plant of the power station was directly unable to produce due to the epidemic. It’s true that it [the pace of new BSS in China] didn’t meet expectations, but it’s not that it doesn’t make sense at the moment,” William Li said.

In addition, NIO‘s CEO reiterated the company’s goal of achieving 1,300 Battery Swap Stations worldwide by the end of the year and confirmed the plan to have a plant to build these facilities in Europe.

Latest comments

Go Nio! Europe wants your good and cheao EVs
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.