Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 23 (Xinhua)-- according to CNBC, a senior executive of Ningde Times, the world's largest electric vehicle battery maker, said the company is evaluating whether to expand its power exchange business to the European market.

In January this year, Ningde Times announced its entry into the power exchange industry, releasing the overall solution of EVOGO and combination of power exchange service brand, and planned to launch the first batch of power exchange services in 10 cities. Ningde era combined power exchange overall solution is composed of "power exchange block, fast change station, App" three major products. In April this year, the Ningde era EVOGO power exchange service was officially launched in Xiamen, which is also the first city where the service landed.

Qin Lihong, co-founder of Weilai, which has been laying out the power exchange market, told Reuters this week that the company plans to build 1000 power exchanges outside China by 2025, most of them in Europe.

CTOnews.com learned that Li Xiaoning, chief executive of overseas business applications at Ningde Times, said in an interview with CNBC on Thursday that the company was also evaluating the expansion of its battery switching products to Europe. " We are beginning to evaluate potential cooperation with many partners. We need to know the details of practice, "he added." We have a lot to think about. Product technology is one thing, and the other is business cases, regulations, local rules, and other factors that we also need to consider. "

If the Ningde era expands its business overseas, it can help foreign carmakers provide power exchange services to customers without having to build their own expensive infrastructure.

The Ningde era is facing a variety of challenges, including rising costs of raw materials such as lithium, but the company's profits doubled in the second quarter as demand for electric cars remained strong.

Matthias Zentgraf, European president of Chinese battery maker Ningde Times, said in an interview that the company is considering opening a third plant in Europe, which is under internal discussion, but no clear decision has been made, Bloomberg reported. "if there is no demand, we will not build a third factory," Zentgraf said.

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