Nio Power, a unit of Nio (NYSE: NIO), has recently entered into a strategic partnership with a state-owned enterprise in Yunnan to collaborate on the construction of battery swap stations in the province. This marks the fourth such partnership that Nio has announced in the past month, demonstrating the company’s commitment to expanding its network of battery swap infrastructure.
The agreement was signed on April 11 in Kunming, Yunnan province, with a subsidiary of Yunnan Jiaotou Group Operation Development. The collaboration will focus on various areas including battery swap infrastructure for electric vehicles (EVs), smart energy management systems, and virtual power plant access. The companies plan to build integrated stations with energy storage, charging, and battery swap capabilities in highway service areas managed by Yunnan Jiaotou.
Additionally, they will explore the integration of battery swap stations into virtual power plants to participate in grid demand response, ultimately contributing to the development of energy replenishment infrastructure in Yunnan’s highway service areas. Nio Power currently operates 38 battery swap stations in Yunnan, along with over 150 charging piles, and has conducted more than 390,000 battery swaps for local customers.
Overall, Nio Power has a network of 3,255 battery swap stations across China, providing over 71 million battery swap services in total. The partnership with Yunnan Jiaotou aligns with the latter’s investment plans in charging piles and power capacity expansion in service areas it manages.
This collaboration follows a series of similar partnerships that Nio has recently announced with state-owned enterprises in different provinces. In Shandong, Nio Power partnered with Jining Hi-Tech Holding Group to build 50 battery swap stations, while in Hunan, the company joined forces with a subsidiary of the Changsha Economic Development Group to construct 100 battery swap stations. Moreover, Nio signed a strategic partnership agreement with Beijing-based Future Science City Group to develop 100 battery swap stations in Beijing.
These partnerships are part of Nio’s Power Up Partners program, which aims to expand the company’s network of charging and battery swap stations through collaborations with strategic partners. With its continued focus on infrastructure development, Nio is poised to further enhance the accessibility and convenience of electric vehicle charging and battery swapping services for its customers across China.
