NIO and Zhejiang Commercial Group to Jointly Build Power Exchange Station

NIO
(Source: NIO)

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Chinese EV firm NIO Inc. announced on January 7 the signing of a strategic cooperation agreement with Zhejiang Commercial Group Co., Ltd. As part of the arrangement, the two sides plan to build power stations in at least 15 pairs of expressway service areas in the country’s eastern Zhejiang Province before June 2022.

Zhejiang Commercial Group is the largest state-owned comprehensive transportation commercial investment operator in the province. This strategic cooperation with NIO will accelerate the construction of high-speed power exchange networks in Zhejiang.

At present, NIO has built 781 power exchange stations in China, including 205 expressway power stations, 615 overcharging stations, and 626 destination charging stations, and has accessed over 450,000 third-party charging piles.

As a new force of electric vehicles in China, NIO delivered 10,489 new vehicles in December 2021, up 49.7% year-on-year, as well as 25,034 units in Q4, up 44.3% year-on-year. It has achieved positive growth for seven consecutive quarters.

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In 2021, NIO embraced highly competitive development. It released an intelligent electric flagship car, the ET7, and a medium-sized intelligent electric coupe ET5. It also expanded to the used car business, and built 15 NIO Houses and 72 service centers. In terms of global expansion, NIO officially entered the Norwegian market.