By Michael Elkins
On August 1st, electric vehicle company Nio (NYSE:NIO) and energy company Shell (NYSE:SHEL) began operation the first ever integrated Power Charger and Swap station in Tongan, Xiamen.
According to an agreement between the two companies, NIO and Shell will jointly construct and operate Power Charger and Swap facilities. NIO and Shell plan to install 100 Power Swap Stations in China by 2025 and will begin construction of Power Swap Stations in Europe this year.
It was also agreed that Shell's charging network in Europe will become available to NIO users.
As of August 1, NIO has deployed 1,048 Power Swap stations in China, with 271 installed alongside the freeways, 1,777 Power Charger stations with 10,222 Power Chargers, and connected with 550,000+ third-party chargers. More than 10 million power swaps have been provided to NIO's users.