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SAIC's IM Motors joins Nio's charging network in China 2024-06-03
SAIC's IM Motors joins Nio's charging network in China
IM Motors, the joint venture between SAIC Motor, Zhangjiang Hi-Tech Park, and Alibaba Group, has partnered with Nio Power, the power solutions unit of Chinese new energy vehicle startup Nio, on charging network interoperability across China.
IM Motors' users can use the IM Motors App or the in-vehicle charging map to check the location, price, availability, and other information about Nio's charging piles in real-time, the JV said on Weibo last Thursday. They can scan a QR code to charge and pay, it added.
Nio has 2,427 battery swap stations and 22,551 charging piles, the most among all auto brands in China. Over 80 percent of its power is used by vehicles other than its own, with the Shanghai-based firm partnering with many carmakers in battery charging and swapping since the second half of last year.
Nio has a large battery charging and swap network, so working with it can save on the costs of building a battery charging and swap system, the manager of a Chinese carmaker's planning department told Yicai.
Nio has also allied with Changan Automobile, Geely Holding Group, SAIC-General Motors, Xpeng Motors, Ji Yue, and Lotus Cars in charging network interoperability. FAW Group also joined its battery swap network on May 21.
Having more partners will cut Nio's loss from building its battery charging and swap network, Chairman and Chief Executive Li Bin said on an earnings conference call last September. The firm achieved breakeven in its charging network but not in its battery swap business yet, Li added.
Nio's operating revenue from its energy service network was CNY1.7 billion (USD230 million) last year, making up 3 percent of its total, according to its annual financial report.
Nio Power may raise money independently, Li noted on another earnings conference call in December.
Source: Yicai Global
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