Chinese EV maker Nio (NIO) and battery giant Contemporary Amperex Technology Limited (CATL) have disclosed a partnership to build a vast

Chinese electric vehicle maker Nio announced its partnership with CATL to establish a battery swapping network for cars. CATL will support Nio in developing the battery swapping network while the battery giant's Choco-Swap technical standards and network will be introduced to Firefly-branded newly developed models,

As part of the deal, CATL is investing up to RMB 2.5 billion in NIO Power, further solidifying their partnership. The agreement involves leveraging their respective strengths in technology, management, and brand influence to create the largest and most advanced battery swapping service network.