Chinese automaker NIO is in talks with automakers to license its electric vehicle (EV) battery swapping technology.
That is according to Hui Zhang, the company’s European president, who also revealed NIO is holding discussions with Chinese and European automakers to open up access to its charging network.
Zhang told The Financial Times that NIO is targeting expansion in Europe, one of the most competitive markets and one in which they want to be a leader.
“We want to be a well-established player in the premium segment [in Europe] by 2025,” Zhang said.
To do that, the company is aiming to have 1,000 battery swapping stations outside of China by the middle of the decade.
The company will first target Europe before expanding the technology to the United States.
NIO believes battery swapping is one of the key ways to eliminate EV range anxiety.
The company currently has 866 battery swapping stations in China, and has already completed more than 7.6 million battery swaps.