Nio will raise the cost of battery upgrades on a daily basis by 76 percent between February 1-17, as it expects demand for upgrades to surge during the Chinese New Year travel rush.
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Li Auto has opened 2 flagship retail centers in Shenzhen and Guangzhou, with the facilities in Beijing and Shanghai set to debut later this month.
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The autonomous driving development and cockpit businesses of the Alps sub-brand are largely integrated with the Nio brand, with some businesses still operating independently, according to local media.
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Nio adds JAC and Chery as partners in developing battery swap stations. Previously, it signed similar contracts with Changan and Geely.
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A new company called Zhongan Energy was launched today and it will build 1,000 battery swap stations with the support of Nio and two state-owned groups in Anhui province.
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Nio said it and JAC, Chery will carry out deep strategic cooperation in battery standards, battery swap technology, battery swap service network construction and operation.
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Nio has also signed strategic cooperation agreements with two state-owned groups in Anhui province for energy storage, charging, and battery swap system construction.
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BYD ranks No. 1, Tesla No. 2, and Nio No. 9 in terms of NEV market share in China in 2023.
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Except for the flagship SUV ES8, all other Nio models saw deliveries increase in December compared to November.
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Nio has no new models in the first three quarters of 2024, sales growth is likely to be low, and it may need to offer price discounts for its existing models amid stiff competition, BofA said.
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