Nio Starts Trials For Power Swap Station 3.0: What's Better About It?

Nio Inc NIO has reportedly begun trial operations of its Power Swap Station 3.0.

What Happened: Nio commenced trial operation on Tuesday of faster, more efficient battery swapping stations in China, reported Reuters.

Last week, it was reported that Nio's first 10 third-generation battery swap stations, unveiled in December, will go online on March 28, ahead of a previously announced timeline.

The third-generation power swap station adopts a new power swap mode, raising capacity to 408 swaps per day, a 30% increase compared with the second-generation power swap station.

Nio is among the early adopters and proponents of the battery-swapping service over battery charging. Nio claims that it takes just 3 minutes to swap a fully charged battery.

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Nio reset its goals for battery-swap stations in February. The company said that it expects to add 1000 battery swap stations in 2023 as opposed to the 400 stations target it announced in December. Nio would have 2,300 battery-swap stations by year-end if the forecast is achieved.

Price Action: NYSE-listed ADRs of Nio rose 1% in extended trading after closing at $8.93, according to data from Benzinga Pro.

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