Source | Yuan Auto

As Geely and Huawei-backed Yinwang have successively confirmed plans to launch battery swap models, the next technology trend in the EV industry after extended-range vehicles is already taking shape.

Looking back at 2023–2024, Li Auto's outstanding sales with its extended-range L-series models prompted peers such as XPeng and Avatr—companies that had previously focused solely on pure electric vehicles—to announce that they too would adopt extended-range technology. "Sales are justice" was, to some extent, translated into "extended-range is justice." So if more and more automakers begin to embrace battery swap next, it should come as no surprise.

Take Avatr, for example. A photo recently circulating in the auto community shows one of the brand's models at a CATL battery swap station, drawing market attention.

As an automaker closely tied to both Yinwang and CATL, Avatr may be the most natural company in the industry to follow the battery swap route. According to Tianyancha, Avatr holds a 10% stake in Yinwang, while CATL is also a shareholder of Avatr with a stake of more than 9%.

Moreover, Avatr indeed needs some new tricks at this stage.

01

Rather than selling into the "1xx,xxx yuan" range, it might as well try battery swap

After launching new extended-range models, Avatr did enjoy a highlight period in 2025 when monthly sales continuously exceeded 10,000 units, but this year that trick no longer seems to work.

Based on official automaker data and terminal retail data from the China Passenger Car Association, under either measure, Avatr's monthly sales in 2026 have consistently remained below 10,000 units—lacking highlights even when compared only with itself.

It should be noted that this year is not a minor product year for Avatr.

Whether it is the Avatr 06T wagon launched in April or the Avatr 07L large five-seat SUV launched in August, both are positioned in the mainstream luxury new energy vehicle market of 200,000–300,000 yuan and should be the brand's new cars most likely to drive volume, yet neither made much of a splash.

At this point, Avatr has already assembled mid-size sedans, mid-to-large sedans, wagons, mid-size SUVs, and mid-to-large SUVs in the 200,000–300,000 yuan price range, and most of them offer both pure electric and extended-range options. In this price band, it can basically be described as a state of "saturation attack."

Against this backdrop, if Avatr wants to revitalize its product matrix, in addition to trading price for volume, joining battery swap would be an option with relatively low side effects and worth looking forward to.

First, as a luxury brand, Avatr has so far not done much in building its own energy replenishment network, and joining an already scaled battery swap system would be a way to quickly "catch up." Leading luxury new energy vehicle brands such as AITO, NIO, and Li Auto are all willing to spend heavily on building their own energy replenishment networks.

Second, if Avatr can become one of the fastest automakers in the industry to follow the battery swap route in this round, combined with CATL's usual style of being willing to advertise and build labels in the consumer market, this luxury automaker—born with a silver spoon but increasingly low-key—will gain brand-level traffic and attention unprecedented in its history, and may even have an opportunity to reshape its brand label.

At a time when traffic is necessary for sales, Avatr badly needs a topic that can spark heated market discussion, and the energy of "joining battery swap" is obviously much greater than that of "canceling a launch event."

02

Battery swap is not just about speed

Regarding battery swap, many people may associate it only with reviving the battery "on the spot" within minutes. But from NIO's practical experience, the advantages of battery swap are not limited to this.

Based on the battery swap system, in addition to the conventional outright vehicle purchase, NIO also offers a battery rental purchase model called BaaS (Battery as a Service). Under the BaaS model, the vehicle price is divided into two parts: the body and the battery. The body can be purchased in full or by installment, while the battery portion of the price is reduced, and the owner subsequently rents the battery monthly.

It is worth mentioning that owners who choose the BaaS model can also buy out the battery later, but certain conditions must be met.

Take the third-generation NIO ES8, which sold well this year, as an example. The outright purchase price of the vehicle starts at 382,800 yuan, while the price under the BaaS model starts at 274,800 yuan, with a monthly battery rental fee of 1,128 yuan. Considering that the BaaS body price starting at 274,800 yuan can be further financed by installment, the purchase threshold for the third-generation NIO ES8—a model in the 400,000 yuan class—can be as low as less than 100,000 yuan.

Setting aside the question of whether buying a NIO under the BaaS model is actually cost-effective, the most intuitive and objective fact is that it can significantly lower the purchase price threshold of a car—a "weapon" that frontline sales can more easily use to persuade consumers. According to William Li, founder, chairman, and CEO of NIO, the BaaS proportion for NIO's new cars can reach 90%.

It should be noted that as subsidies for the purchase tax of new energy vehicles decline, the BaaS model will show more advantages. Under the BaaS model, the purchase invoice is issued based on the body price, so the purchase tax for a new car will be considerably lower than with an outright vehicle purchase.

Back to Avatr: if it joins CATL's battery swap system in the future, it can also "replicate" NIO's BaaS model. At present, the BaaS model has already been proven in CATL's battery swap system. For example, the BAIC ARCFOX Beta S3 battery swap version launched in May this year starts at 104,800 yuan for outright purchase, while under the battery rental plan the body price starts at 59,800 yuan, with monthly battery rental fees in two tiers of 399 yuan and 599 yuan.

Imagine if models such as the Avatr 06T and Avatr 07L could be sold under the BaaS model—the down payment for purchase could be reduced to less than 50,000 yuan. Considering that Avatr's actual revenue would not decrease, this can be regarded to some extent as a win-win.

For Avatr, perhaps the biggest concern about joining CATL's battery swap system is that the latter currently accommodates more models below 150,000 yuan, which does not match its luxury status. However, Yinwang is in the same situation on this point. Given Huawei and CATL's style of doing things, it is believed that corresponding solutions are already in place.

"Huawei ecosystem's first battery swap new car," "CATL's first battery swap luxury model"... Avatr probably would not refuse halos like these, right?

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