Batteries Not Included: Nio Ready to Lease EV Power Packs

Chinese automaker Nio is planning to allow customers to lease vehicle batteries independently from the cars themselves, and has involved Contemporary Amperex Technology (CATL) in the venture.

Considering EVs are useless without their battery, leasing an essential component seems to serve little purpose on its face. But Nio intends to sell its ES6 crossover for 273,600 yuan ($39,500) in China with the option to lease the battery for 980 yuan a month. Customers can also choose to purchase the entire vehicle outright for 343,600 yuan ($49,600) if they haven’t tricked themselves into believing a better battery is less than a year away.

This is a weird one, because the stated purpose is to lower the vehicle’s upfront costs. But it’s just a paperweight without an energy source, forcing customers to lease the power pack if they want to use the vehicle — and at no small cost. The companies announced the new program in Beijing on Thursday with Nio CEO William Li stating his company plans to enter Europe in the second half of 2021. Hopefully they’ll be dumb enough to accept the batteries-as-a-service premise.

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  • TCowner We've had a 64.5 Mustang in the family for the past 40 years. It is all original, Rangoon Red coupe with 289 (one of the first instead of the 260), Rally Pac, 4-speed, factory air, every option. Always gets smiles and thumbs ups.
  • ToolGuy This might be a good option for my spouse when it becomes available -- thought about reserving one but the $500 deposit is a little too serious. Oh sorry, that was the Volvo EX30, not the Mustang. Is Volvo part of Ford? Is the Mustang an EV? I'm so confused.
  • Mikey My late wife loved Mustangs ..We alway rented one while travelling . GM blood vetoed me purchasing one . 3 years after retirement bought an 08 rag top, followed by a 15 EB Hard top, In 18 i bought a low low mileage 05 GT rag with a stick.. The car had not been properly stored. That led to rodent issues !! Electrical nightmare. Lots of bucks !! The stick wasn't kind to my aging knees.. The 05 went to a long term dedicated Mustang guy. He loves it .. Today my garage tenant is a sweet 19 Camaro RS rag 6yl Auto. I just might take it out of hibernation this weekend. The Mustang will always hold a place in my heart.. Kudos to Ford for keeping it alive . I refuse to refer to the fake one by that storied name .
  • Ajla On the Mach-E, I still don't like it but my understanding is that it helps allow Ford to continue offering a V8 in the Mustang and F-150. Considering Dodge and Ram jumped off a cliff into 6-cylinder land there's probably some credibility to that story.
  • Ajla If I was Ford I would just troll Stellantis at all times.