Source: NIO

On the evening of March 17, NIO and Contemporary Amperex Technology Co. Ltd. (CATL) signed a strategic cooperation agreement in Ningde, Fujian.

The partnership aims to build a battery-swapping network covering all passenger vehicle models, standardize industry technical standards, deepen capital and business cooperation, and deliver more efficient energy solutions.

As part of this cooperation, CATL plans to make a strategic investment of 2.5 billion RMB in NIO Power to strengthen their strategic partnership further.

The agreement was signed by NIO's Senior Vice President Shen Fei and CATL's General Manager of Battery Swapping Business Yang Jun.

NIO Founder, Chairman, and CEO William Li and CATL Founder, Chairman, and CEO Robin Zeng were present to witness the signing.

Strategic Collaboration Details

Under the agreement, NIO and CATL will leverage their respective strengths in technology, management, platforms, and brand resources to create the world's largest and most advanced battery swap service network for passenger vehicles.

The two companies will deepen the sharing of battery swap networks based on unified battery standards, promoting the popularization and upgrading of battery swap services.

Source: CATL

CATL will support the development of NIO's battery swap network, and NIO's Firefly brand will adopt CATL's "Choco-Swap" battery swap standards and network for its upcoming models.

Meanwhile, Firefly’s compact EV (also named Firefly) will first be compatible with NIO’s limited “demo” swap stations set up across cities with a high number of users.

Source: Firefly

In the future, the compact Firefly will have access to NIO’s 5th generation swap stations.

The battery swap networks of both companies will adopt a "dual-network parallel" model, further enhancing the convenience of pure electric vehicle travel.

Additionally, they will jointly promote the formulation and adoption of national standards for battery swap technology, facilitating cross-brand and cross-model battery compatibility.

Together, they aim to build a full lifecycle closed-loop system encompassing "battery R&D, swap services, battery asset management, cascade utilization, and material recycling," contributing to cost reduction and efficiency improvement across the new energy vehicle industry chain.

Leadership Vision
William Li stated that the strategic cooperation between NIO and CATL represents a major turning point for the battery swap model. With CATL's support, NIO's battery swap network will expand to more regions.

The collaboration goes beyond capital investment, representing a mutual empowerment in technical standards and service systems.

Robin Zeng emphasized that this partnership is a milestone in collaborative innovation across the entire industry chain.

The two companies will use CATL's Choco-Swap technology as a pivot to create a smart energy network that meets diverse needs through the "dual-network parallel" model.

NIO’s Network Expansion Plan
In March 2024, NIO and CATL signed a framework agreement to jointly promote innovation in long-life battery development.

As the automotive brand with the largest number of battery swap stations nationwide, NIO has built 3,172 stations, including nearly 1,000 along highways, covering over 700 cities across China.

NIO plans to complete the deployment of battery swap stations in more than 1,200 county-level administrative regions across 14 provincial-level areas, including Beijing, Shanghai, and Guangdong, by June 30, 2025.

By December 31, 2025, the coverage will expand to over 2,300 county-level regions across 27 provincial-level areas.

At the corporate level, NIO has established battery swap partnerships with automakers such as Changan, Geely, Chery, JAC, GAC, FAW, and Lotus.

CATL's Choco-Swap Technology
CATL's battery swap brand, EVOGO, and its Choco-Swap technology were launched in 2022. This technology allows consumers to swap one or multiple battery blocks based on their range needs.

CATL highlights that most private car owners use only 10-20% of their battery capacity in daily scenarios but are forced to purchase high-capacity models due to range anxiety, incurring significant sunk costs.

Through "on-demand battery rental," consumers can freely choose the number of battery blocks for daily commutes or long-distance travel.

Source: CATL

On December 18, 2024, CATL officially launched its Choco-Swap solution and revealed that it had nearly 100 partners within the Choco-Swap ecosystem and signed subscription agreements with 30 companies for 107,500 battery packs.

The company plans to build 1,000 Choco-Swap stations by 2025, with plans to enter the Hong Kong and Macau markets.

Its mid-term goal is 20,000 stations, with an ultimate target of 30,000 to 40,000 stations.