Wednesday, July 24, 2024

Nio and China FAW Group’s Hongqi Brand Interconnect Charging Networks in New Partnership

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Nio and Hongqi, a brand under China FAW Group, have officially entered into a partnership to interconnect their charging networks. This collaboration marks the first project since the two companies signed a strategic cooperation framework agreement on May 21.

According to Nio’s statement today, Hongqi users will now have access to Nio’s charging network through the Hongqi App. This includes services such as locating Nio’s charging stations, checking prices, charging vehicles, and making payments.

See also: Nio Confident in Firefly Brand’s EU Competitiveness Despite Tariff Threats

The partnership with FAW adds another significant player to Nio’s battery swap alliance, which already includes Changan Automobile, Geely Holding, Chery, JAC, Lotus, and GAC Group. Nio aims to collaborate with these partners on various aspects, including battery technology standards, battery swap-enabled models, battery asset management and operation, as well as the construction and operation of charging and battery swap networks.

Nio’s charging network, one of the largest in China, has always been open to other EV brands. This direct collaboration with Hongqi and other automakers is expected to enhance the charging experience for all users.

As of today, Nio has 2,433 battery swap stations in China, with 804 along highways. It also operates 2,285 supercharging stations with 10,458 charging piles, along with 1,595 destination charging stations providing 12,243 charging piles.

See also: Nio Expands in Europe Despite Tariff Challenges, Opens Flagship Showroom in Hamburg, Germany

Nio Power, the company’s energy business subsidiary responsible for constructing facilities such as battery swap stations and charging stations, received a RMB 1.5 billion ($207 million) strategic investment from a government investment fund in Wuhan, Hubei province, on May 31. This marks the unit’s first outside investment, with Nio retaining approximately 90 percent ownership of Nio Power following the financing.

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