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Qin Lihong, co-founder and president of NIO Inc. (NYSE:NIO), has reportedly urged additional companies, including Huawei Technologies to join the battery swap alliance it spearheads, aiming to enhance electric vehicle (EV) battery longevity concerns.
During his speech at the China Auto Bluebook Forum 2024, Lihong emphasized the pressing need to address battery life challenges, likening it to the proactive preparation required for an aging population, as reported by CnEVPost.
He stressed that resolving the issue isn’t feasible through the independent efforts of Nio or any single company; rather, it demands collaborative efforts from the entire industry.
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Lihong urged additional partners to join the battery swap alliance led by Nio, emphasizing the need to offer improved solutions for both society as a whole and individual users.
“I’m particularly looking forward to our more experienced peers and role models to learn from, whether it’s Dongfeng, BAIC, Huawei’s HIMA (Harmony Intelligent Mobility Alliance), could join the camp,” Lihong said.
He highlighted that Nio users need not concern themselves with battery life, as Nio will handle replacements upon reaching the end of their life cycle, allowing users to utilize them normally.
“We can research and develop together, operate together, and invest together to solve the problems common to all users. Because by 2032, the number (of batteries with expired warranties) will be around 20 million,” said Lihong, CnEV Post added.
Price Action: NIO shares are trading lower by 0.9% to $4.380 premarket at last check Friday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: NIO
