What NIO Power does

NIO Power is the energy services subsidiary of NIO Inc., operating one of China's largest electric vehicle charging and battery-swapping networks. As of early 2026, the network spans roughly 3,729 battery-swap stations and 4,839 EV charging stations (8,466 total facilities), with more than 1,000 stations along China's national highway system and over 100 million cumulative battery swaps completed. The company's core technology is a fleet of fully-automated battery-swap stations that exchange an EV battery pack in approximately three minutes without driver intervention, complemented by a 20,000 square-meter dedicated swap-station assembly plant in Wuhan that manufactures and deploys the infrastructure.

The business operates three primary revenue streams. First, Battery-as-a-Service (BaaS) is a subscription/lease model that separates battery ownership from the vehicle, lowering upfront EV acquisition cost and creating recurring revenue. Second, per-use transaction fees are generated each time a driver swaps a depleted pack for a charged unit. Third, charging infrastructure services are billed across both proprietary and partner-operated stations. Distribution combines direct operation of NIO-branded facilities with a 'Charging Partner' program launched in August 2024, which has recruited 35 regional energy partners across 25 provinces and co-built nearly 200 stations; flagship cross-OEM compatibility agreements with Geely and FAW extend station utility beyond NIO-branded vehicles, and a state-owned-enterprise partnership with Wuhan Optics Valley Traffic Company anchors municipal-scale deployment.

The customer base spans individual NIO and partner-OEM EV owners subscribing to BaaS, commercial fleet operators (delivery and ride-hailing) requiring minimal vehicle downtime, and government/transportation entities supporting municipal electrification. Capital intensity is high: roughly 18 billion yuan has been invested in infrastructure over eleven years, and NIO Power has secured external funding of approximately RMB 1.5 billion (~$211M) in May 2024 plus additional government-backed rounds of ~$143M (Dec 2025) and ~$145M (Feb 2026). The company plans to add 1,000 additional swap stations during 2026.

Name

NIO Power

Legal name

NIO Power Technology

Website

https://nio.cn

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

NIO Power is NIO Inc.'s energy subsidiary operating China's largest automated battery-swap and EV-charging network (8,466 facilities, 100M+ swaps). It serves NIO, Geely, and FAW vehicle owners via Battery-as-a-Service subscriptions, per-swap fees, and partner-co-built stations across 25 provinces.

Ownership category

akta.pro rank

Product category

Electric Vehicle Energy Services

NAICS

Battery Manufacturing (33591), Electric Power Distribution (221122)

SIC

Electric Services (4911)

akta.pro primary industry

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB)

akta.pro secondary industries

Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI)

Keywords

• Battery swap stations
• EV charging infrastructure
• Battery-as-a-service
• Electric vehicle energy
• Battery swapping network

Headquarters

HQ city

Wuhan

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Battery-as-a-Service (BaaS) Subscription: The BaaS model allows EV users to replace depleted batteries with fully charged units at swapping stations, removing the need for upfront battery purchases. Users pay through subscription or leasing arrangements, reducing vehicle acquisition costs. NIO offers this service allowing customers to purchase vehicles without the battery pack, leasing it via the BaaS model.
2. Battery Swap Transaction Fees: Revenue generated from per-use battery swap transactions at NIO's network of stations. Users pay per swap, creating a usage-based revenue stream based on the number of battery exchanges performed.
3. Charging Infrastructure Services: Revenue from operating EV charging stations within NIO's broader energy infrastructure network of 8,466 facilities, including both proprietary stations and co-constructed partner stations.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

NIO Power operates a nationwide EV energy services platform built around fully-automated battery swap stations that replace an EV battery in approximately three minutes, complemented by a network of EV charging stations across China. Its Battery-as-a-Service (BaaS) subscription model decouples battery ownership from the vehicle, allowing drivers to lease batteries and swap depleted units for charged ones at NIO's stations. Revenue is generated through per-swap transaction fees, charging session fees, and recurring BaaS subscriptions, supported by a partnership-driven infrastructure expansion program.

Product overview

NIO Power operates a comprehensive electric vehicle energy service ecosystem built around automated battery swap stations and EV charging infrastructure. The core offering consists of fully-automated battery swapping stations that replace EV batteries in approximately three minutes, complemented by an extensive EV charging station network. NIO Power offers its Battery-as-a-Service (BaaS) subscription model enabling users to lease batteries rather than purchase them outright. The company's Charging Partner Program allows third-party partners to co-construct and operate charging/swap stations under the NIO Power brand. NIO Power Technology, the company's in-house component division, also supplies electrification components including battery packs and drive motors, ranking among China's top NEV component suppliers.

Differentiator

Problem solved

Functional benefit

Products and services

• NIO Power Battery Swap Stations
• NIO Power EV Charging Stations
• Battery-as-a-Service (BaaS)

Quantifiable outcome

• 3-minute battery swap vs. 30+ minutes for conventional fast charging
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Zhong'an EnergycoreStrategic or Co-development Partner · 18 December 2025NIO Power and Zhong'an Energy announced the first 50 jointly developed EV charging and battery swap stations across Anhui province, China. The collaboration is part of NIO's 'Charging Partner' program launched in August 2024. The Anhui network covers 90% of the province's districts and counties. This is a core partnership demonstrating NIO's model of co-investing in infrastructure with regional energy partners.
• Wuhan Optics Valley Traffic CompanycoreStrategic or Co-development Partner · 5 December 2025NIO Power signed a strategic cooperation agreement with Wuhan's Optics Valley Traffic Company, a state-owned enterprise, to cooperate in construction and operation of EV charging and battery swap infrastructure. The agreement covers infrastructure development, energy innovation businesses, and brand ecosystems. NIO Power already operates a 20,000 square meter battery swap station assembly plant in Wuhan.
• GeelyflagshipStrategic or Co-development PartnerPartnership with Geely to enable battery swapping compatibility for Geely vehicles at NIO's swap stations, expanding the addressable market beyond NIO vehicle owners and validating NIO's swap standard with another major Chinese automaker.
• FAW GroupflagshipStrategic or Co-development PartnerPartnership with FAW Group to enable battery swapping for FAW vehicles, similar to the Geely arrangement, extending NIO's swap network utility to additional automaker customers.
• 35 Charging Partners (Charging Partner Program)coreChannel Partner/ Reseller/ DistributorNIO's 'Charging Partner' program launched August 2024 has brought together 35 partners across 25 provinces and regions, resulting in nearly 200 co-constructed charging and swap stations. Partners are regional energy companies that co-invest in and operate charging infrastructure alongside NIO.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• NaaS (能链智电): NaaS is a US-listed Chinese EV charging service platform connecting charge-point operators with drivers. It operates in the same EV charging ecosystem as NIO Power and represents a software/service layer competitor in Chinese charging infrastructure.
• State Grid EV Service Company: State Grid's EV service subsidiary operates the largest portion of China's public charging network through its utility-scale footprint. As a state-owned incumbent, it competes with NIO Power for highway, municipal, and large-scale charging/swap deployment contracts.
• Star Charge (万马爱充): Star Charge (TELD) operates a broad Chinese EV charging network across public, commercial, and highway locations. It is a broad incumbent competing with NIO Power for charging infrastructure footprint and fleet electrification deals.
• Tesla Supercharger: Tesla operates the world's largest fast-charging network, providing the benchmark for speed and reliability that battery swap must compete against. Tesla's supercharger buildout is a competing infrastructure narrative for time-poor EV drivers globally.
• TGood (特来电): TGood is one of China's largest EV charging network operators with tens of thousands of charging stations nationwide. While focused on charging rather than swap, it competes for the same EV infrastructure budget, real estate, and utility partnerships as NIO Power.

Emerging players

• CATL Choco-SEB: CATL's Choco-SEB (Swapping Electric Block) initiative is a battery swap standard and network backed by the world's largest battery maker and multiple Chinese automakers. It is an emerging competitor to NIO Power's swap standard, with deep battery-supply economics supporting rapid scaling.
• Ample: Ample is a US-based modular battery swap startup focused on fleet operators and ride-hailing vehicles with a similar automated swap value proposition. It is an emerging international peer demonstrating the global potential and competitive intensity of swap-based EV refueling.
• BYD: BYD has begun rolling out its own battery swap infrastructure and battery packs in China for its commercial vehicles. As the largest Chinese NEV maker, BYD entering swap at scale would create a direct automaker-integrated competitor to NIO Power.

Direct peers

• Aulton New Energy: Aulton is one of China's largest dedicated battery-swap operators, providing swap stations primarily for commercial fleets and ride-hailing operators. It competes directly with NIO Power in the Chinese battery swap infrastructure market with a focus on taxi and logistics fleets.

Regional players

• ChargePoint: ChargePoint is a US-listed operator of one of the world's largest EV charging networks, primarily in North America and Europe. While operating in different geographies, it represents a comparable business model (networked EV charging services) that benchmarks the capital intensity and recurring-revenue potential of NIO Power's business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NIO Power