Nio

Nio unveiled its Power North plan to enhance the charging experience for customers in northern China at the Shanghai auto show starting Monday and brought its ET7 sedan to the show for the first time.

Nio delivered 20,060 vehicles in the first quarter, up 422.7 percent year-on-year, the first time it has reached over 20,000 deliveries in a single quarter.

Unlike in the Chinese market, some Nio services, such as One-Click for Power, will be charged in the European market.

Given Nio's relatively well-established battery pipeline, it seems that other companies are interested in using its batteries to save development costs.

It's the first time we've seen Nio publicly mention its goal for 2025. In addition, Nio CEO William Li said the company has more aggressive plans for battery swap station deployments.

Nio said reaching 500 battery swap stations this year was a conservative goal, so how is it going to exceed expectations? Today, that answer is revealed.

The milestone comes as Nio reached a strategic cooperation agreement with Sinopec on Thursday to build battery swap stations at more Sinopec stations in the future.

Sinopec Chairman Zhang Yuzhuo said the company will have 5,000 charging stations and battery swap stations by 2025.

Nio will unveil its new Nio Power plan at the Shanghai auto show next week, along with the first official interior reveal of the ET7, its fourth mass-production vehicle.

A day before Nio's first second-generation battery swap station goes live, the Chinese electric car company began rolling out an update to its in-vehicle system, bringing support for the latest battery swap station.