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Tencent News "First Line"

Author: Guo Yifei Editor: Liu Peng

August 20,NIO(09866.HK/NYSE: NIO) officially launched the "Power UP 2024 NIO Charging Day" plan, encrypting the layout of the charging/battery swapping network and deploying charging business to counties across the country.

In terms of charging pile layout, NIO plans to cover all county-level administrative regions in the country except Taiwan and the Hong Kong Special Administrative Region by June 30, 2025, so that every county will have NIO charging piles.

The pace of battery swapping stations is relatively slow. NIO will gradually promote the coverage of battery swapping in all counties in three phases: by June 30, 2025, 14 provincial-level administrative regions including Beijing, Shanghai, Guangdong, Jiangsu, Zhejiang, Anhui, Hubei, Shandong, Sichuan, Henan, Fujian, Tianjin, Chongqing, and Macau, and more than 1,200 county-level administrative regions will be covered; by December 31, 2025, 13 additional provincial-level administrative regions including Hunan, Hebei, Shaanxi, Guangxi, Yunnan, Guizhou, Jiangxi, Hainan, Shanxi, Jilin, Liaoning, Gansu, and Ningxia will be covered. So far, NIO will have completed the coverage of battery swapping stations in 27 provincial-level administrative regions and more than 2,300 county-level administrative regions; and will start to tackle the construction of battery swapping stations in the remaining provincial-level administrative regions from 2026.

The main body of NIO's charging and swapping business is NIO Energy, which was established in Wuhan, Hubei. The chairman is NIO's president Qin Lihong, and Shen Fei serves as CEO.

In order to speed up the pace of land grabbing, at this press conference, NIO Energy officially launched the Charging Partner Plan, opening up charging and swapping station cooperation to the whole society, providing three types of cooperation methods: "charging station franchising", "fixed income of charging and swapping stations" and "charging and swapping guaranteed + profit sharing", and signed cooperation agreements with the first batch of charging partners.

In this regard, NIO President Qin Lihong said at the press conference that infrastructure construction is always a matter for the whole society. NIO has taken the lead in leading everyone to do it through its own progress. "Opening up partners is not a way for the company to make money because it is short of money."

Most of NIO’s first batch of charging partners are energy companies, including China Energy Engineering Group East China Construction Investment Co., Ltd., Xi’an Chengtou New Energy Co., Ltd., Guangdong Power Grid Electric Vehicle Service Co., Ltd., Shandong Sanneng Digital Industrial Park Co., Ltd., etc.

As of August 20, NIO has built 23,009 charging piles and 2,480 battery swap stations across the country, providing users with more than 45.63 million charging services and more than 51 million battery swap services. From a horizontal perspective, it is the car brand with the largest number of charging piles and battery swap stations in the country, and nearly 80% of the charging power services are for non-NIO users.

At NIO's third quarter 2023 financial report conference, NIO founder Li Bin said that NIO's charging pile business has basically achieved break-even, and the battery swap business has achieved profitability in some regions. Some investors are also interested in independent financing of NIO Power (NIO Energy System), and there have been some preliminary contacts. Independent financing of NIO Power is not ruled out in the future.

Just at the end of May 2024, NIO Energy received a strategic investment of 1.5 billion yuan from Wuhan local state-owned assets, but did not disclose the corresponding shareholding and company valuation.

In terms of partners, NIO took the lead in establishing a battery swap alliance and hasChangan Automobile、Geely Automobile, JAC Group,Chery Automobile、Lotus、GAC Group, FAW and other automakers have reached a strategic cooperation on charging and battery swapping.