Nio (NYSE:) is negotiating with a number of carmakers about licensing its battery swap expertise, which represents one of many key strengths of the Chinese language electrical automobile producer’s technique to extend its market share in Europe, the FT stories.

The Shanghai-based automaker is holding talks with each native and abroad automotive corporations to develop its community of battery charging stations, mentioned Hui Zhang, Vice President of Nio Europe.

The corporate expects to extend the variety of its charging stations from 800 to five,000 by the center of the last decade. Nio hopes the battery swap expertise will assist it achieve a robust place in Europe, one of the vital aggressive electrical automobile markets.

The corporate expects to construct 1,000 battery swap stations outdoors China by 2025, primarily in Europe and the U.S., a market that Nio desires to focus on after Europe.

“We need to be a well-established participant within the premium phase [in Europe] by 2025,” Zhang mentioned.

Nios’s plan includes licensing its battery-swapping resolution to different carmakers in an effort to develop using this expertise which the corporate believes will handle issues associated to the restricted variety of battery chargers and the time wanted to cost a automobile.

To handle these worries, Nio developed a battery swap system that includes unscrewing the underside of the electrical automobile and changing the battery by way of a hatch on the ground of the charging station.

The battery swap course of takes simply a few minutes, considerably sooner than even the quickest electrical automobile chargers that take about an hour to energy up an empty battery.

The Chinese language carmaker went public in 2018 and has offered 180,000 autos in China. Whereas dozens of different Chinese language carmakers have developed their very own battery swap applied sciences, solely Nio has commercialized the product till now.

Nio inventory worth is up 1.5% in pre-open Tuesday.