Nio Inc (NYSE: NIO) has recently inked a deal to expand its battery swap station network in Jiangsu, eastern China. The company’s energy division, Nio Power, has signed a strategic cooperation agreement with Jiangsu Financial Leasing in Nanjing, with plans to construct 100 new energy replenishment facilities that support both battery swapping and charging in the province.
This collaboration aims to enhance the density of the energy infrastructure network in Jiangsu and establish a replicable model for the nationwide expansion of the battery swap network. By leveraging local operational expertise, Nio Power and Jiangsu Financial Leasing will work together to provide a mature pathway for scaling up the network across the country.
Moreover, the partnership will extend beyond infrastructure development to encompass capital investment, technology integration, and business model innovation. In the realm of automotive financial services, the two entities will collaborate on tailoring sales financing solutions for Nio’s Onvo sub-brand, prioritizing consumer finance and supply chain finance support.
Nio Power, responsible for Nio’s charging and battery swap network construction, is spearheading the initiative in Jiangsu, a key region for the company’s operations. As of now, Nio boasts 422 battery swap stations and 313 supercharging stations in Jiangsu, underscoring the significance of the latest agreement in bolstering the local energy infrastructure.
This marks the fifth major construction agreement for battery swap stations that Nio Power has secured since October last year, reflecting the company’s commitment to expanding its network nationwide. The initiative aligns with Nio’s ambitious Power Up Counties plan unveiled at the Nio Power Up 2024 event in August 2024, which aims to blanket all counties in 27 provincial-level administrative regions with the battery swap station network by the end of 2025.
Currently, Nio operates 3,442 battery swap stations across China, with 1,003 strategically located along highways. The company also maintains 2,926 supercharging stations equipped with 13,555 superchargers and 1,781 destination charging stations with 13,407 charging piles. Additionally, Nio’s charging map provides access to over 1.31 million third-party charging stations, further enhancing the convenience and accessibility of its charging infrastructure.
In a parallel development, Nio Power has teamed up with a state-owned enterprise to establish 100 battery swap stations in northeast China, underscoring the company’s concerted efforts to expand its energy infrastructure network nationwide.
