Nio Power, the power unit of Nio (NYSE: NIO), has recently entered into a new partnership with Jining Hi-Tech Holding Group to build 50 battery swap stations in Shandong province. This collaboration marks the third partnership announced by Nio in the past month with a state-owned company to enhance the infrastructure for electric vehicles (EVs).
The agreement was signed in Jining, Shandong, and the first three battery swap stations under this partnership have already gone live. Jining Hi-Tech Holding Group is a state-owned enterprise in Shandong province with significant assets and a focus on urban development and infrastructure construction.
With over 180 battery swap stations and 850 charging piles in Shandong, Nio Power has provided more than 1.2 million battery swaps to users in the province. This new partnership aims to accelerate the construction of EV replenishment infrastructure in Shandong and contribute to the growth of Nio’s battery swap network.
Nio currently operates a total of 3,249 battery swap stations in China and has completed over 70 million battery swaps. The company’s partnerships with state-owned enterprises in various provinces demonstrate its commitment to expanding its battery swap network and promoting sustainable transportation solutions.
The recent collaborations with Wuhan Shouyi Scientific Innovation Investment Group, Future Science City Group in Beijing, and the Changsha Economic and Technological Development Group are part of Nio’s Power Up Partners program. This initiative, launched in August 2024, aims to work with partners to jointly build charging and battery swap facilities, providing revenue streams for partners and reducing capital expenditures for Nio.
The construction of battery swap stations this year will be primarily funded by Nio’s partners, according to William Li, founder, chairman, and CEO of Nio. These strategic partnerships not only benefit Nio’s expansion plans but also contribute to the development of EV infrastructure across China.
As Nio continues to strengthen its presence in the EV market, its focus on building a robust battery swap network with independent intellectual property rights sets it apart as a leader in sustainable transportation solutions. The company’s innovative approach to partnerships and infrastructure development underscores its commitment to driving the future of electric mobility.
