News, 8 April 2025
CATL, the Chinese battery giant, is reportedly negotiating to acquire a controlling stake in Nio’s power unit, which operates over 3,000 battery swapping stations throughout China.
This proposal follows CATL’s announcement of a potential investment of up to 2.5 billion yuan ($342 million) in Nio Power in March 2025. CATL is increasing its investments in battery swapping infrastructure, as Chairman Robin Zeng seeks to transform the 25-year-old company from a battery manufacturer into a green-energy provider. Under the agreement, both parties will collaborate on creating the largest and most advanced battery swapping service network for passenger vehicles, capitalizing on the transformation and modernization trends in the global automotive sector. They aim to combine their technological strengths, management expertise, platforms, and brand recognition to enhance battery swapping services. By establishing unified battery standards, they will promote network sharing and accelerate the adoption of battery swapping. CATL will assist NIO in developing this network, introducing its Choco-Swap technical standards to NIO’s emerging firefly brand models. The parallel operations of both networks will provide electric vehicle users with a smoother and more efficient swapping experience, making battery electric vehicle (BEV) travel more convenient.
The company aims to be at the forefront of a movement expected to replace one-third of gas stations in China and recently partnered with state-owned oil giant Sinopec to establish 10,000 battery swap stations, with at least 500 scheduled for construction this year.
Looking ahead, both companies plan to jointly advocate for the development and implementation of national standards for battery swapping technology in China, which will improve battery compatibility among various brands and models. Their collaboration will also establish a comprehensive lifecycle loop covering battery R&D, swapping services, asset management, reutilization, and recycling, ultimately reducing costs and enhancing efficiency across the new energy vehicle value chain while ensuring safety.
About CATL
Contemporary Amperex Technology Co., Limited (CATL) is a prominent Chinese multinational that specializes in the manufacturing of lithium-ion batteries for electric vehicles (EVs) and energy storage systems. Founded in 2011, CATL has quickly established itself as one of the largest battery producers in the world, driven by major partnerships with automotive giants like Tesla, BMW, and Honda.
About Nio
NIO Inc. is a leading Chinese electric vehicle (EV) manufacturer, founded in November 2014 and headquartered in Shanghai. Known for its innovative approach to smart EV technology, NIO designs and produces a range of premium electric vehicles, including sedans and SUVs, characterized by advanced features like autonomous driving capabilities and a unique battery-swapping system.
