Nio Inc (NYSE: NIO) has reached a new agreement to add 100 battery swap stations in Jiangsu, eastern China.
The company's energy unit, Nio Power, signed a strategic cooperation agreement with Jiangsu Financial Leasing in Nanjing today, according to a statement.
The two parties will jointly build 100 energy replenishment facilities supporting battery swapping and charging in Jiangsu province to make the region's network more dense.
Through the accumulation of local operational experience, the two parties will provide a mature path and replicable model for the nationwide layout of the battery swap network, Nio said.
Nio Power and Jiangsu Financial Leasing will also deepen cooperation in capital, technology, and business models, according to the statement.
In the field of automotive financial services, the two parties will customize sales financing solutions for Nio's Onvo sub-brand and give priority to consumer finance and supply chain finance support.
Nio Power is Nio's energy division, responsible for the construction of the company's charging and battery swap network. Nanjing is the capital city of Jiangsu.
To date, Nio has 422 battery swap stations and 313 supercharging stations in Jiangsu, according to data compiled by CnEVPost.
The latest collaboration marks the fifth bulk construction agreement for battery swap stations reached by Nio Power since October last year.
Nio announced the Power Up Counties plan at the Nio Power Up 2024 event on August 20, 2024, aiming to cover all counties in 27 provincial-level administrative regions with its battery swap station network by December 31, 2025.
As of today, Nio has 3,442 battery swap stations in China, of which 1,003 are located along highways.
It has 2,926 supercharging stations in China, providing 13,555 superchargers, as well as 1,781 destination charging stations, providing 13,407 charging piles.
Nio's charging map has access to more than 1.31 million third-party charging stations.
