What’s Happening: Chinese electric vehicle (EV) company NIO announced on April 3, 2023, that its ES6 model completed the 20 millionth battery swap at the NIO Power Swap station in Hangzhou. The company reached this milestone just nine months after achieving its 10 millionth power swap.
Why It Matters: As NIO’s power swap technology continues to grow in popularity, it not only provides a fast and convenient charging method for EV owners but also reduces carbon emissions. To date, NIO’s power swaps have contributed to a reduction of 550,286 tons of carbon emissions.
Key Points:
- NIO power swap accounts for over 60% of electricity usage by NIO vehicles.
- The company provides an average of 45,000 battery swaps daily, with a car departing from the swap station every 1.9 seconds.
- NIO’s power swap technology allows for battery upgrades, with 63,136 upgrades provided to customers so far.
Bottom Line: NIO’s achievement of 20 million power swaps highlights the success of its battery swapping technology, which has become the preferred charging method for its users. The milestone will encourage the company to expand its power swap network further in Europe and roll out 1,000 new Power Swap Stations in China in 2023.
