Shen Fei believes the difference between supercharging and battery swapping reflects two distinct levels of innovative thinking: analogical innovation versus systemic innovation.
With the widespread adoption of 800V and 900V high-voltage architectures, “charging for five minutes to replenish 300 kilometers of range” is no longer just a slogan—it has become a true reflection of the current technological advancements in new energy vehicles. The speed of supercharging now seems to be approaching the refueling experience of traditional gasoline-powered cars almost indefinitely.
However, a sharp question follows: If charging can already be as fast as refueling, is there still a need for battery swapping? This is a question that Shen Fei, President of Ledao, is often asked.
Last night, Shen Fei shared an article titled “The ‘Limits’ of Supercharging vs. the ‘Infinity’ of Battery Swapping: A Competition Not on the Same Dimension,” systematically articulating his perspective.
In his view, supercharging and battery swapping are not engaged in a “life-or-death” competition—they are fundamentally not competing on the same dimension.
Shen Fei summarized five advantages of the battery swapping technology route.
1. A More Certain User Experience
Shen Fei pointed out in the article that the core pursuit of “supercharging” is the limit of single-vehicle, single-session energy replenishment speed, while the uncertainty of the actual experience is indeed unavoidable.
This is because the actual charging power is the minimum value among the battery’s power acceptance, the charging pile’s power output, and the power the grid can supply. It cannot be directly equated with the figures claimed by manufacturers, as achieving these maximum power levels requires many additional conditions in practice. Even if both the grid and the charging pile have sufficient power, the fastest charging speed is only attainable during a specific phase of a single vehicle’s charging session. If other vehicles are charging simultaneously at the same station, the power will be shared, leading to reduced speeds.
In contrast, “battery swapping” can essentially deliver a consistent and certain experience, unaffected by weather or environmental conditions. Furthermore, it can optimize users’ charging and travel plans through intelligent prediction and scheduling.
2. Full Lifecycle Battery Health Management
Frequent use of fast charging can increase a battery’s internal resistance and accelerate its degradation. Some manufacturers, out of battery safety concerns, may restrict the fast-charging capability for vehicles belonging to users who frequently use fast charging.
Battery swapping is different. It aims to build a multi-dimensional energy ecosystem, striving not only for the convenience of a “3-minute swap” but also simultaneously addressing safety management, lifespan management, and cascaded utilization of batteries throughout their entire lifecycle.
3. Reducing Vehicle Purchase and Usage Costs
To accommodate occasional long-distance travel needs with supercharging, users often need to purchase a large-capacity battery upfront when buying the vehicle, increasing the initial investment.
Battery swapping, through the “battery-as-a-service” (BaaS) model, lowers the entry barrier for vehicle purchase. Meanwhile, users can flexibly rent battery packs of different capacities based on their daily commute and long-distance travel needs, balancing experience and cost.
4. More Grid-Friendly: Transforming from a Grid “Burden” to a Grid “Helper”
Supercharging piles have high single-unit power demands. Taking a 6C charging pile as an example, one pile requires a distribution grid capacity of 600kW, which is difficult to obtain in many areas. Large-scale concentrated use can impose shocks on local grids, necessitating expensive grid expansion and upgrades.
In contrast, battery swap stations are natural distributed energy storage units and nodes of virtual power plants. They can charge during off-peak grid hours and discharge power back to the grid during peak hours (valley filling and peak shaving), significantly improving grid capacity utilization. Additionally, they can become positive assets that enhance grid security and help the grid integrate more wind and photovoltaic power.
5. An Expandable Business Model
The equipment investment for a supercharging station itself is relatively low, but the investment for the entire station’s transformer and power distribution system is comparable to that of a battery swap station. Meanwhile, since charging station revenue primarily relies on service fees, the pressure to recoup the investment is considerable.
Battery swap stations offer high service efficiency per unit of time and high equipment utilization. They can charge the batteries on-site regardless of whether vehicles come for a swap. Simultaneously, as distributed energy storage units, swap stations can generate revenue by leveraging electricity price differences—storing power at night and performing swaps during the day.
Shen Fei previously revealed that NIO’s over 3,000 battery swap stations can generate approximately over 200 million yuan in annual revenue through this method.
In Shen Fei’s view, the difference between the supercharging and battery swapping technology routes reflects two distinct levels of innovative thinking modes: analogical innovation and systemic innovation.
If the range of an extended-range vehicle is insufficient, add more batteries; if there aren’t enough charging piles, add more fuel tanks. Shen Fei refers to this as “analogical innovation.”
“Battery swapping,” on the other hand, represents systemic innovation. It requires holistic consideration of five key elements—”user, vehicle, swap station, battery, and grid”—and drives collaborative optimization across all aspects with a comprehensive mindset.
According to Shen Fei, the systemic nature is reflected in three aspects:
- Technology Integration and Process Reengineering: The battery swap system deeply integrates various technologies, including mechanical engineering (automatic swapping mechanisms), electrochemistry (battery management), power electronics (grid interaction), and data intelligence (demand forecasting and scheduling).
- Ecosystem Value Creation: The battery swap model ultimately constructs a collaborative energy ecosystem involving multiple stakeholders.
- Dynamic Evolution Capability: True systemic innovation possesses the vitality for continuous evolution.
Returning to the essence of the issue: what users need is not to carry a “mobile energy station” with them, but a convenient, worry-free energy replenishment experience.
For Shen Fei, as well as for ONVO and NIO behind him, this is not about negating the value of supercharging. On the contrary, most of the energy replenishment stations currently built by the NIO Group are “integrated charging and swapping stations.” This in itself indicates a more likely development direction: supercharging and battery swapping are not an either-or replacement but a scenario-based, integrated, and symbiotic relationship.
Data shows that as of December 4, 2025, NIO has built 3,604 battery swap stations and 27,526 charging piles.
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