NIO achieves an annual target of 700 battery swap stations ahead of schedule

NIO’s (NYSE: NIO) second-generation battery swap station allows the vehicle to automatically park into the station, with which users can experience a three-minute battery swap while staying inside the vehicle. So far, NIO has provided over 5.3 million swaps to users in China. Battery swapping has become a popular power solution among NIO users.

NIO is accelerating its deployment of battery swapping stations in urban areas. At the end of November, 42.34% of NIO users live three kilometers from their nearest battery swapping station. The “Station to Vehicle” ratio drops to 258, meaning, on average, each battery swap station serves 258 cars.

So far, NIO has installed a total of 700 battery swapping stations, 3,020 Power Chargers, and 3,319 destination chargers and has connected with over 430,000 third-party charging piles.