EV Maker Nio Partners With Changan Auto on Battery Swapping

(Bloomberg) — Electric-vehicle maker Nio Inc. and Chongqing Changan Automobile Co. signed an agreement to cooperate on battery swapping, the latest in a trend of Chinese EV upstarts partnering with traditional automakers.

The companies will collaborate in areas that cover ownership, technologies, maintenance and financing of swappable EV batteries, Nio said in a statement Tuesday. Changan Auto Chairman Zhu Huarong added that the carmakers will expand cooperation in other areas too, including vehicle development.