Mirattery saw the size of its battery assets under management grow from 0 to 10 GWh in 44 months, and from 10 GWh to 20 GWh in just nine months, the company said.
Mirattery, or Wuhan Weineng, saw the size of its battery assets under management surpass 20 GWh, the battery asset operator for Nio (NYSE: NIO) announced today.
Mirattery saw the size of its battery assets under management grow from 0 to 10 GWh in 44 months, and from 10 GWh to 20 GWh in just nine months, the company, based in Wuhan, Hubei province in central China, said.
The company had served more than 200,000 users, has battery assets of more than RMB 20 billion ($2.7 billion), and has a market share of more than 70 percent in the battery services market, it said.
To date, Mirattery has cumulatively reduced carbon emissions by more than 470,000 tons through the services it provides, equivalent to the carbon absorption of 26 million trees, the company said.
Mirattery was founded on August 18, 2020, with joint investment from CATL, Nio, Guotai Junan and Hubei Science Technology Investment.
In August 2020, Nio launched its BaaS (battery as a service) battery rental business, and Mirattery is the manager of these battery assets for rental.
Customers who purchase a Nio vehicle based on the BaaS model will see the purchase threshold reduced by at least RMB 70,000 ($9,670), but need to pay a monthly fee for the batteries.
CATL, the world's largest supplier of power batteries, also entered the battery swap space in January 2022, and on December 18 this year announced ambitious plans aimed at standardizing swappable batteries.
On March 14 this year, Nio made adjustments to its BaaS battery rental service, lowering the monthly rent from RMB 980 to RMB 728 for 70/75-kWh standard range battery packs, and RMB 1,128 from RMB 1,680 for 100-kWh long range battery packs.
That was at a time when the price war in China's electric vehicle (EV) industry was raging, but Nio management emphasized in communications with the media at the time the adjustments to the BaaS service were not due to the EV price war.
Nio was considering tweaking its BaaS services prior to the price war, but it was a complex move as it involved Mirattery as well as a large number of other stakeholders, the company said at the time.
Nio Inc delivered 20,575 vehicles in November, up 28.92 percent year-on-year but down 1.91 percent from October, according to data compiled by CnEVPost.
At the end of November, Nio's cumulative deliveries since inception stood at 640,426 vehicles.
($1 = RMB 7.2982)
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