Nio, the electric vehicle (EV) maker, is making significant strides in the battery swap business, especially in Shanghai. According to the company’s founder, chairman, and CEO, William Li, Nio’s battery swap stations in Shanghai are approaching profitability, marking a positive trend in the business.
In a recent Weibo post, Li shared insights from a live video broadcast he made on Douyin, emphasizing the company’s focus on expanding its battery swap station network. Nio aims to make the power-up experience as convenient as gas refueling for users of Nio, Onvo, and partner car brands.
During the live broadcast, Shen Fei, Nio’s vice president for energy business, revealed that the company is currently providing more than 9,000 battery swap services per day in Shanghai, with plans to reach 10,000 services daily soon. Shen also mentioned that building a battery swap station in Shanghai can be a profitable venture, given the high demand for such services in the city.
Nio currently operates 3,110 battery swap stations in China, with Shanghai leading the pack with 183 stations. The company’s CFO, Stanly Qu, previously highlighted that a battery swap station can break even by serving 60 to 70 times a day, a milestone many of Nio’s stations in Shanghai have already achieved.
Looking ahead, Nio has ambitious plans for its battery swap station network. By the end of 2025, the company aims to have more than 5,000 stations across China, covering over 2,300 counties in 27 provincial-level administrative regions. This initiative is part of Nio’s “Power Up Counties” program, which also includes expanding its charging network to cover all county-level administrative regions by June 2025.
In addition to its own efforts, Nio is encouraged by the increased involvement of Chinese power battery giant CATL in the battery swap space. Li highlighted the strong relationship between Nio and CATL, underscoring the importance of collaboration in advancing the adoption of battery swap technology.
Overall, Nio’s progress in the battery swap business reflects its commitment to providing convenient and efficient charging solutions for EV users. With a growing network of stations and strategic partnerships, the company is well-positioned to lead the transition to electric mobility in China and beyond.
