China's Nio ties up with CATL to build battery swapping network
China's Nio ties up with CATL to build battery swapping networkBEIJING, March 18 - Chinese electric vehicle maker Nio 9866.HK announced its partnership with CATL 300750.SZ to establish a battery swapping network for cars.CATL will support Nio in developing the battery swapping network while the battery giant's Choco-Swap technical standards and network will be introduced to Firefly-branded newly developed models, according to a company statement sent to Reuters on Tuesday.The two companies will also pursue capital cooperation, with CATL advancing an investment capped at 2.5 billion yuan in Nio Power.