NIO's CEO says Shanghai battery swapping stations near profitability

Shanghai (Gasgoo)- On February 9, William Bin Li, founder, chairman, and CEO of NIO, revealed that the company's battery swapping stations in Shanghai are close to achieving profitability.

Mr. Li also emphasized that 2025 marks a pivotal year for NIO's battery swapping network expansion, with the goal of providing a convenient charging experience for users of NIO, ONVO, and other partner auto brands.

Since the first battery swapping station came online in Shenzhen on May 20, 2018, NIO took 1,508 days to reach the first 1,000 stations, 477 days to grow from 1,000 to 2,000, and only 434 days to surpass 3,000 stations cumulatively.

The second half of 2024 witnessed the fast battery swapping network expansion, with 576 new stations constructed. Besides, in December 2024, NIO completed its battery swapping network that covers China's 9 north-south and 9 east-west main highways, connecting all major cities across the country and spanning 12 key city clusters. This network enables seamless battery swaps along highways, with a station located every 200 kilometers on average, connecting over 700 cities. NIO users can now travel between major cities with access to highway battery swapping services.

As of January 27, NIO has deployed a total of 3,101 battery swapping stations, 4,343 charging stations, and 25,424 charging piles across the country.

In addition to building its own energy replenishment network, NIO has continued to form partnerships with other automakers to enhance charging and battery swapping connectivity.

On January 17, 2025, NIO formed a charging network collaboration with BAIC Group's premium electric vehicle brand ARCFOX. Under the agreement, NIO's charging network would be opened to ARCFOX owners, offering them an extensive, efficient, and user-friendly charging service across the country.