Credit: NIO
NIO has received critical support from China’s local government of Anhui province, with an announcement on Thursday of a collaboration with the local state-owned power producer to build 1,000 battery storage-integrated recharging facilities in the region, where the company manufactures its electric vehicles. Anhui Province Energy Group Co., Ltd., or Wenergy Group for short, on Dec. 25 set up a joint venture called Zhongan Energy with NIO and battery maker Gotion High-Tech, along with several other state-owned firms with a registered capital of RMB 1.6 billion ($223.4 million). The firm, with Wenergy Group and NIO respectively holding a 44.4% and 19.3% stake, according to the Chinese business intelligence platform Tianyancha, will be responsible for establishing a “unified” infrastructure network for battery charging and swapping within the province. The companies also expect the new recharging facilities to help improve the flexibility and resilience of the power grid by actively balancing the demand and supply of electricity. NIO on Thursday also announced it has reached partnerships with Chery Automobile and JAC Group, two state-owned automakers with headquarters in Anhui, to jointly develop and operate battery swap stations, weeks after it reached similar deals with Changan and Geely. [NIO announcement, Tianyancha, in Chinese]
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