The electric vehicle industry has long struggled to develop an effective solution for battery swapping to overcome the high costs of charging and replacing batteries. Over the years, the industry has developed three different approaches to address this problem.
The automotive industry is experiencing a digital shift as our cars become more intelligent, based on the addition of powerful new onboard computing systems that can support the latest technologies. This industrywide trend is being driven by a race to consolidate the electric control units (ECUs) which manage the onboard instrumentation for each vehicle. NIO is working to improve the user experience by standardizing the operating system platform across its own fleet of vehicles.
William Li, NIO’s Chairman and CEO, hosted a fireside chat with Maya Ben Dror of the World Economic Forum at EcoMotion2020, a virtual event to understand the visions of the leading CEOs in the global smart mobility community.
China has taken the global lead in promoting the adoption of electric vehicles by offering financial subsidies as an incentive for choosing EVs over traditional gas-powered vehicles. The nation’s subsidy program was launched to spur demand for electric cars, but it has been gradually scaled back over the years.
The electric vehicles market for electric vehicles has been challenged in recent weeks due to the corona virus pandemic and a price war for crude oil between Russia and Saudi Arabia, which has lowered the global cost of gasoline.