NIO has achieved a significant milestone by completing 50 million cumulative battery swaps, demonstrating the viability and popularity of its battery swap technology among EV drivers.

The company reached this milestone on August 5, 2024, at 11:33 PM, with its system delivering a total of 2.62 billion kWh of electricity, enough to power over 1.31 million homes for a year.

NIO took four years to reach its first 10 million battery swaps, but only nine months to double that figure to 20 million, and another six months to reach 30 million by October 2023.

The company operates 2,464 battery swap stations in China, averaging 79,000 swaps per day, providing a fully charged battery every 1.1 seconds.

Nearly 60% of the energy used by NIO vehicles in China comes from battery swaps, highlighting the method's growing popularity.

As of mid-July 2024, NIO has expanded its presence in Europe with 50 battery swap stations in countries like Norway and Germany, indicating a potential shift in global EV charging methods.

NIO's battery swap system allows for quick replacement of battery packs, providing a faster alternative to traditional charging methods, a concept that was initially explored but abandoned by other companies like Tesla.

NIO's battery swap technology has saved EV drivers approximately RMB 20.3 billion ($2.85 billion), averaging RMB 36,000 ($5,050) in savings per owner compared to gasoline vehicles.

According to NIO, its battery swaps have saved drivers over 2.85 billion minutes compared to waiting at public charging stations, indicating a strong preference for battery swaps among its customers.

The Chinese electric vehicle company NIO is recognized as a leading brand in EV technology, offering advanced electric vehicles and innovative technologies such as battery swaps and mobile phones.