Chinese EV maker Nio launches battery leasing service, eyes global market

Chinese electric vehicle maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack - one of the most expensive EV components - thereby lowering the starting price of its cars.

The service, called"battery as a service" , entails drivers paying a monthly rental fee for use of the batteries.The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle priced 273,600 yuan without ownership of the battery pack, versus 343,600 yuan including the pack. Nio operates 143 battery-swapping stations around China, where drivers can swap spent battery packs for fully charged replacements. Li said Nio was building a new battery-swapping station in China every week and planned to build 300 new stations next year.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple's stock market value tops US$2 trillionJust two years after Apple became the first publicly listed U.S. company with a US$1 trillion stock market value, the iPhone maker has now topped ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Apple becomes first US company to top US$2 trillion in market valueJust two years after Apple became the first publicly listed US company with a US$1 trillion stock market value, the iPhone maker has now topped ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »