China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025

//China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025

China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025

China’s biggest producer of electric-car batteries is seeking to capture the rapid growth in sales of new energy vehicles (NEVs) by setting up battery-swapping stations nationwide.Contemporary Amperex Technology Ltd (CATL), which owns the biggest EV battery production capacity, will form a venture called Wuhan Weineng Battery Asset with an initial capital of 800 million yuan (US$115.4 million) to lease battery packs to car owners.It will take an equal stake in the business with US-listed EV…

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By | 2020-08-20T13:35:09+00:00 August 20th, 2020|Business|Comments Off on China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025