Is swappable car batteries the future?

- China bet swappable batteries for electronic vehicles

Four China companies - automakers Nio, Geely, battery swap developer Aulton New Energy Automotive Technology and state-owned oil producer Sinopec plan to establish a total of 24,000 swap stations across the country by 2025, up from about 1,400 today.

China government bet swappable batteries for electronic vehicles by throwing its weight behind the technology.

Swapping and regular grid-charging both have critics and cheerleaders in a rapidly evolving auto tech arena.

Electronic vehicles manufacturers, Tesla, Volkswagen and General Motors ( GM ) are designed for and powered by their own proprietary batteries and, in Tesla's case, its own charging network. they are not exploring battery swapping right now. As the matter of fact, Tesla abandoned the alternative path of electric car battery swapping a year ago.

Nio, among China's top EV makers, on the other hand, claimed that it has more than 800 swap stations in China and has just set up its first in Europe, plans to offer U.S. customers battery-swapping services by 2025.

Below is the stock charts for major car manufactures extracted from moomoo app

Source: Fidelity News