I am surprised no one from Fool has picked up on Nio’s soon to be entry into the cellphone market in China. I’ll hunt down that story in a few minutes. I am also surprised that none of these 3 Motley Fool writers even mention $BYDDF (as seen in the IBD story I posted earlier this morning.) One more thing: these three did not mention Nio also has a larger battery with longer range in the BaaS setup. That one costs $199.00 per month. Lastly, these 3 are also claiming the battery swap takes 3 minutes. That’s the first time I’ve seen the time drop from a 5-minute swap to a 3-minute swap.
Motley Fool headline: Nio Is Down 70% From All-Time Highs. Here Are 2 Reasons Why It’s Worth a Second Chance.
By Alex Gross, Cole Tretheway, Disha Chanana, and Evelyn Dalton - Jul 27, 2022 at 6:08AM
Nio’s battery-swap stations service has advantages over traditional EV charging stations.
Like Tesla, Nio offers self-driving technology to an innovative, hungry market.
Nio’s battery-as-a-service advantage
Not even Tesla has managed to replicate the popularity of Nio’s convenient battery-as-a-service technology (although that hasn’t kept Tesla from trying). The service allows Nio customers to quickly swap their batteries up to six times per month without leaving their cars. It’s faster than EV charging, clocking in at under three minutes per swap. Compare that to the average time it takes to recharge using a Tesla Supercharger station: The fastest car to charge on average, Tesla’s Model S, charges about 200 miles in 15 minutes – about five times as long as the average Nio battery swap.
Nio purchasers who subscribe to the optional BaaS service snag a discount of Yuan 70,000 ($10,380) off the sticker price. Subscribers pay a monthly fee of Yuan 980 (about $145) that includes a 70 kilowatt-hour (KWh) battery. For reference, the average cost to charge a Tesla is around $14. And it costs around $4 to $5 per 100 miles using at-home charges, which can cost between $800 and $2,000 in installation fees.