Nio Launches New 100kWh Battery Alongside “BaaS” Battery Swap Program

Nio Launches New 100kWh Battery Alongside “BaaS” Battery Swap Program

Tyler Durden

Mon, 11/09/2020 – 12:40

Today in “a company that is actually offering to swap batteries for its customers” news…

Electric vehicle company Nio announced today that it is launching its 100kWh battery pack that is going to be able to provide its vehicles with 615km/~385 miles of range. 

The company has filed over 300 patents for the battery, which is based on “cell-to-pack” technology that Nio jointly developed with CATL. The technology allows for 37% higher energy density, according to Chinese EV site Gasgoo. The design of the pack can also help streamline the company’s manufacturing process by 40%. 

The company says it is starting 2 shifts at its factory in Hefei later this month and is making 5,000 cars per month, according to Bloomberg. CEO William Li says the company is being approached by “many investors” about its battery asset management unit.

The company says pre-order of models with the new battery pack will start on November 7th and that those with 70kWh packs can upgrade by paying at all once, or monthly. Nio also offers BaaS, “battery as a service”, where they allow drivers to pay monthly and use whatever battery suits their needs best. 

If a buyer signs up for BaaS for $220 per month, they can subtract $19,105 off the price of their new car. 

Li continued: “The BaaS model has long been planned with our unique battery swap technologies. The successful launch of the BaaS model will enable NIO users to benefit from the lower initial purchase prices of our products, flexible battery upgrade options and assurance of battery performance.”

Nio already has 158 battery swap stations in China and has offered the service more than 1.18 million times. Any word on how Tesla’s once heavily touted battery swap program – from seven years ago – is doing?

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Author: Tyler Durden