What’s Happening: Electric vehicle manufacturer NIO has reported a surge in demand for its innovative battery swap stations. The company’s data shows that 60% of its customers have chosen to use one of its 1,383 Power Swap Stations. This statistic comes as NIO users collectively reached a milestone of 10 billion kilometers driven, a feat achieved in 1,762 days since the brand’s launch.
Why It Matters: This milestone underlines the accelerating growth of NIO and its services. It took NIO less than 28 months to reach its first billion kilometers driven when it had only 150 Power Swap Stations. In just 31 months after this, nine billion additional kilometers were covered, demonstrating the increasing popularity of NIO’s innovative charging solution.
Key Points:
- The distance traveled by NIO vehicles, equivalent to 26,143 moon round-trips, underscores NIO’s commitment to its power swapping network.
- NIO’s Power Swap Stations provide a convenient, under-five-minute battery swap service, boosting the brand’s value proposition.
- Earlier this month, NIO celebrated another significant achievement with the 20 millionth battery swap, conducted at the NIO Power Swap Station at the Wuchang Service Center in Hangzhou, China.
- An average swap currently happens every 1.6 seconds, a rate expected to increase with the latest Third Generation Power Swap Station, which can handle 408 swaps per day, a 30% increase in capacity.
- NIO has plans to expand its network with an additional 1,000 Power Swap Stations in China and up to 70 in Europe by the end of 2023.
- The battery swap model has paved the way for NIO to introduce the flexible Battery-as-a-Service (BaaS) system, which has gained significant traction in markets such as Norway, where approximately 95% of users opted for BaaS.
Bottom Line: NIO’s innovative power solutions, including its battery swap stations, are becoming a trusted and proven solution for users. The company’s growth trajectory signifies its evolving status from a start-up to a well-established OEM available in six countries, planning to expand to 25 countries by 2025. NIO’s dedication to improving the user experience, underlined by its smart EVs featuring advanced user interfaces and driver-assistance technologies, is propelling its progress. To mark the milestone, the NIO community is hosting a series of #10Bkm events across NIO Houses and Service Centers, rewarding its loyal user base.
