NIO's Battery Swap Station is part of a comprehensive power supply system for NIO Power services. This Red Dot award-winning power swapping station debuted at NIO Day 2017 and was first launched at the Nanshan High Tech industrial Park in Shenzhen, China, in May 2018. Ever since then, power swapping has become the most welcomed power solution by NIO users.
In August 2020, we launched the Battery-as-Service (BaaS) subscription model, which offers our users chargeable, swappable, and upgradeable batteries. The users who subscribe to BaaS can purchase a car without the battery.
On September 29, 2021, NIO has completed over 4,000,000 power swaps. With our users' trust and support, we have powered over two billion kilometers of driving distance.
As of October 22, 2021, there are over 551 NIO Power Swap stations operating in more than 60 cities in China, ahead of schedule of reaching the raised target of having over 700 instead of 500 battery swap stations installed by year-end of 2021.
Earlier this year, NIO unveiled the NIO Power Swap Station 2.0 at Sinopec's Chaoying Station in Beijing. This is NIO's inaugural second-generation battery swap station and also the first under the NIO-Sinopec partnership. The second-generation battery swap stations have 14 battery slots, improving the battery swapping experience to 312 swaps per day. In addition, at the new Power Swap station, the vehicle can automatically drive into the station, and users can start a self-service swap with one tap on the center display without getting out of the car.
Sinopec Group is the largest oil and petrochemical product supplier and China's second-largest oil and gas producer. With its engagement with NIO, there are plans to deploy 5,000 battery charging and swapping stations over the next few years.
The partnership between Sinopec and NIO is an important milestone for further developing China's smart EV industry, a concrete measure to help achieve peak carbon emissions and achieve carbon neutrality, a critical step in developing global, green, and innovative transportation initiatives and innovations.
Read more about NIO and Sinopec Sign a Strategic Partnership Agreement