Yahoo Finance NIO & Shell Strike Deal to Enhance EV Driver Experience
NIO Inc. NIO recently announced a partnership with energy giant Royal Dutch Shell (RDS.A) to enhance the charging experience for electric vehicle (EV) customers by jointly constructing and operating a network of co-branded battery swapping stations.
The agreement encompasses a plan to develop a network of 100 battery swapping stations in China by 2025, starting with two pilot sites. Further, additional battery swap stations will be installed at Shell EV charging hubs, while Shell Recharge fast chargers will be made available at NIO locations.
The agreement in Europe will commence with the construction and operation of pilot stations in 2022. Further, NIO users will have access to Shell’s charging infrastructure in Europe, one of Europe’s largest roaming EV charging networks.
The companies are highly optimistic about the partnership. The agreement between NIO and Shell will provide EV users with superior services and experiences.
For Shell, the deal offers the advantages of NIO’s already massive network of fast-charging stations, battery swapping stations and destination chargers in China. Further, amid the heightening climate change concerns, this collaboration highlights Shell’s commitment to expedite the transition to green vehicles globally and make a worthwhile contribution to sustainable energy development.
For NIO, the European leg of the deal is particularly enticing as it will enable it to expand its operations internationally. Through its partnership with Shell, the China startup will have an ally with whom it can work toward improving every aspect of the EV experience by offering Shell Recharge high-speed charging at attractive NIO locations and making battery swapping available at Shell locations.
Meanwhile, NIO and Shell will continue to search for further alliance opportunities in battery asset management, fleet management, home charging services, advanced battery charging and swapping technology development as well as construction of charging facilities in China.
NIO and Shell currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Auto Companies to Tap On
A few better-ranked stocks in the auto space include Tesla TSLA and Harley-Davidson HOG, both of which flaunt a Zacks Rank of 1.
Tesla has an expected earnings growth rate of 166.96% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 6 cents over the last 30 days.
Tesla beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. TSLA has a trailing four-quarter earnings surprise of 25.38%, on average. Its shares have also rallied 90.6% over the past year.
Harley-Davidson has an expected earnings growth rate of 31.75% for the current quarter. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 32 cents over the last 30 days.
Harley-Davidson beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. HOG has a trailing four-quarter negative earnings surprise of138.45%, on average. Its shares have dropped around 7% over the past year.
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Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report
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