NIO (NYSE: NIO) Has Filed a Wireless Charging Patent and Is Planning to Launch a Battery Rental Service
NIO (NYSE:NIO), the Chinese luxury EV manufacturer, is gearing up to dominate its home turf. As per the recent pertinent reports, NIO has taken the next granular step toward realizing its ambition by filing a wireless charging patent.
NIO’s latest patent, filed on the 17th of July and bearing the number CN111422080A, aims to reduce a wireless charging system's installation cost. It also purportedly reduces the cancelation effect associated with electromagnetic induction rings when such rings are placed in close proximity. Although the patent only describes the general approach, it does include a few interesting tidbits. For example, the approach utilizes a charging point that is located at the top of a vehicle. Moreover, NIO’s system also includes a facility to track the vehicle, thereby, giving rise to the possibility of a mobile charging solution.
Bear in mind that this is the fifth patent filed by NIO in July. Patents that were filed by the company earlier in the month relate to battery short circuit prevention, Controller Area Network (CAN) bus faulting processing, etc. As a refresher, a CAN bus is a standard designed to allow microcontrollers and devices to communicate with each other's applications without a host computer.
Of course, this is not the only encouraging news related to NIO that has emerged recently. According to cnTechPost, NIO is planning to establish a separate battery asset management company that will allow for the launch of a dedicated Battery as a Service (BaaS) facility. This idea has been in the planning stage for around 6 months now. The battery asset management company will be led by NIO Energy and will incorporate investments from a number of entities, including Contemporary Amperex Technology (CATL), China's largest automotive lithium-ion battery maker. While citing a source, the report states:
"In other words, the car and the battery can be sold separately. The ownership of the battery asset and the vehicle asset can be stripped away and the user does not need to own the battery."
When NIO implements the BaaS model, a user will have the facility of renting a battery from the battery asset management company, thereby, drastically reducing the cost of owning an electric vehicle.
Readers should remember that NIO is steadily gaining strength in China. According to the Chinese National Passenger Car Information Exchange Association (CPCA), the top ten domestic EV manufacturers accounted for 14.1 percent of the total EV sales in China during H1 2020. NIO accounted for 31 percent of the sales volume generated by the top ten manufacturers, having sold 14,169 units during the period.