Paramount Motors has seized the deal to sell NIO brand cars in Nepal. The Chinese brand is marked for battery swapping technology in its vehicles and it could add a new dimension to the EV industry.
There were multiple business houses in the competition to become the authorized seller of NIO vehicles in Nepal. MAW Vriddhi and Paramount were on the shortlist and the latter was awarded the partnership deal at last. Besides the two, the Shankar Group, Triveni Group, Sharda Group, and Laxmi Group were also in contention.
NIO is a popular electric car manufacturing company in China. It’s particularly popular for battery-swapping technology. A source close to the matter said, “NIO brand is considered expensive. Adopting its battery station and others is expensive. This is why the Chinese brand chose to partner with Paramount.”
NIO is known for its battery-swapping technology. The facility lets drivers swap batteries on the go and continue their ride. It takes 5 to 7 minutes to swap a NIO EV battery. The brand started the concept of battery swapping in 2018 and so far, it has grown to over 1,300 battery-swapping stations.
NIO cars are known for advanced driver assistance, digital cockpits, etc. Its ET 7 offers up to 1000 km per full charge. Among its other notable cars are NIO ES 6, IT 5, EL 7, etc.
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NIO EV cars in Nepal is a big prospect and a test for others
NIO’s arrival in Nepal could pose great competition in the auto market. So far, BYD, Tata, Hyundai, and a handful of others have been dominant. Out of all-electric car brands, Chinese brands have been very popular. NIO could make another solid choice.
Given the premium nature of NIO cars, its cars will give consumers a choice in the premium car range. BYD, Tata, etc. are growing their EV ecosystem but NIO will also come with battery-swapping technology. So far, Gogoro Nebula has a battery swapping facility in Nepal and NIO would be another prominent brand to offer the same in a grand form.