Home Auto Is NIO’s “fast swap” the future of EV charging?

Is NIO’s “fast swap” the future of EV charging?

by The 100 Companies

Perhaps ironically, batteries are the No. 1 barrier to EV adoption. Their immense production costs make EVs less affordable, they still take too long to charge, and when they fail, they cost consumers up to $30,000 to replace.

NIO, aka “The Chinese Tesla,” might have a solution to all three problems: each time your charge gets low, simply visit a “Power Swap” station to get an entirely new battery. The automated process takes just three minutes, ensures you never have to worry about degradation, and even lets consumers buy cars without batteries installed for $10,000 less.

Should American Tesla follow suit?

Chris Butsch, Contributor

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