Starting April 1, Shanghai will begin subsidizing 40 percent of equipment investments for battery swap stations that are available to multiple brands for the next five years. This initiative makes Shanghai the latest city to support the battery swap sector, following similar measures recently introduced in Hefei.
The subsidy specifically applies to the construction of battery swap stations within Shanghai, excluding the cost of batteries. For stations that are not accessible to other brands, the subsidy rate is reduced to 20 percent of the equipment investment. Additionally, the city will provide financial support for the electricity used by these stations, offering up to RMB 600 ($83) per kilowatt for general-purpose stations and RMB 300 per kilowatt for those that are not general-purpose.
In addition to supporting infrastructure, Shanghai will also subsidize cab drivers who use vehicles equipped with battery swapping capabilities. Eligible drivers can receive up to RMB 200 per month, provided their vehicles primarily use battery swap stations for recharging. These driver subsidies are set to be available only in 2025.
This policy marks Shanghai’s first significant subsidy for battery swap facilities in recent years and follows Hefei’s announcement earlier this month, where the city introduced purchase subsidies of up to RMB 10,000 for battery swap-enabled vehicle models. Hefei is notable for housing two of Nio’s manufacturing plants, underscoring the company’s strong presence in the region.
Nio, headquartered in Shanghai, is currently the only automaker offering battery swap-enabled models to general consumers. Its battery swap stations support models from both the main Nio brand and its sub-brand Onvo, with plans to expand through partnerships with other car manufacturers. The company operates 3,154 battery swap stations across China, with Shanghai hosting the largest number at 183 stations.
William Li, Nio’s founder, chairman, and CEO, stated that the battery swap stations in Shanghai are approaching profitability. Nio aims to make recharging vehicles as convenient as traditional refueling, enhancing the user experience for customers of Nio, Onvo, and partner brands.
In a recent broadcast, Shen Fei, Nio’s vice president of energy business, mentioned that the company is facilitating over 9,000 battery swaps daily in Shanghai, with numbers nearing 10,000.
Source: CnevPost
