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China's Geely to set up 5,000 battery swapping stations by 2025

reuters · Sep 26, 2021 22:51

NIO +2.62%

BEIJING, Sept 26 (Reuters) - China's Geely GEELY.UL aims to set up 5,000 battery swapping stations for electric vehicles

(EV) globally by 2025, as sales grow in the world's biggest vehicle market, the automaker said in a statement on Sunday.

A battery swapping station allows drivers to change car batteries to power the rides. Chinese automaker Nio Inc NIO.N plans to have 4,000 battery swapping stations globally by 2025.

China is promoting EV-related infrastructure facilities, including charging stations and battery swapping stations.

(Reporting by Yilei Sun and Brenda Goh; Editing by Clarence Fernandez)

((Y.Sun@thomsonreuters.com; +86 10 66271262; Reuters Messaging: y.sun.thomsonreuters.com@reuters.net))

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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