Chinese automaker Nio Inc (NYSE:NIO) has hit a new milestone with its power swap technology.
What Happened: Nio said in an X post that the company achieved 30 million battery swaps as of Monday.
"30 Million Battery Swaps, 30 Million Joyful Trips," Nio wrote on X, formerly Twitter.
The company said that it delivers over 60,000 swaps every day with a fully charged NIO car leaving a power swap station every 1.4 seconds.
On Oct 9th, NIO announced the achievement of 30 million battery swaps.
— NIO (@NIOGlobal) October 10, 2023
30 Million Battery Swaps, 30 Million Joyful Trips.#NIOPower will continue to undertake continuous deployment to provide a charging experience beyond refueling.#PowerSwap #NIO #BlueSkyComing pic.twitter.com/ccX0lCsj1c
Why It Matters: As of Sept. 30, Nio delivered a total of 399,549 vehicles.
By the end of the year, Nio intends to put up 2,300 power swap stations to cater to its fleet in China. In September alone, the company added 155 power swap stations.
The Chinese EV maker is a proponent of the battery-swapping service over battery charging and claims that it takes just 3 minutes to swap a fully charged battery. The continuous deployment of power swap stations will provide a charging experience beyond refueling, says Nio.
This is in contrast to most EV players including giant Tesla, Volkswagen, and General Motors who rely on charging for their EVs.
Photo by Sundry Photography on Shutterstock
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