New energy vehicles grab big overseas market share

Chinese EV manufacturers are charging into the global auto market with their latest products and new technology, including battery swapping.

With just one tap on a display, NIO cars can be automatically parked into a battery-swap station and it takes only three minutes to swap a fully charged battery.

NIO said it aims to install 20 battery-swap stations in Norway's five largest cities and on some of the country's major roads.

Zhang Hui, vice-president of NIO Europe, said the company contributes to sustainable development in China and Europe through a unique technological base, adding their smart and digital experience edge and cloud-based upgraded hardware features are NIO's technical advantages.

A number of Chinese technology giants have recently jumped into the EV market, bringing more competition and innovation to the auto industry.

Xiaomi, a Chinese electronics manufacturer, unveiled in September an EV subsidiary, with a starting capital of 10 billion yuan ($1.57 billion). Guangzhou-based GAC Group announced earlier this year a joint project with Chinese tech giant Huawei to develop a "smart SUV".

Artificial intelligence has been a major feature of many Chinese EVs. With tech companies entering the industry, competition surrounding AI is expected to be more intense.

Xinhua