NIO Sets The Stage For A Charging Revolution: Reportedly Plans Massive Expansion At Power Up 2024 Event

Author: Nabaparna Bhattacharya | August 20, 2024 08:49am

NIO Inc. (NYSE:NIO) showcased its infrastructure advancements and future strategies at the Power Up 2024 event held in Wuhan, Hubei province, central China.

The electric vehicle (EV) manufacturer introduced its Power Up Counties program, aiming to expand its charging network to cover every county-level administrative region in China by June 30, 2025, reported CnEV Post.

Nio plans to extend its battery swap station network to encompass all over 2,300 counties across 27 provincial-level administrative regions by December 31, 2025.

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As of today, Nio operates 2,480 battery swap stations in China, along with 2,322 supercharging stations featuring 10,577 charging piles and 1,627 destination charging stations equipped with 12,432 charging piles.

At the NIO Day 2023 event late last year, NIO announced plans to add 1,000 new battery swap stations in China by 2024. However, NIO founder, chairman, and CEO William Li suggested last month that this goal might be postponed, the report further noted.

Today, NIO revealed that its power division, NIO Power, will establish a new 20,000-square-meter battery swap station manufacturing facility in Wuhan, aiming for an annual production capacity of over 1,000 battery swap stations.

Additionally, the company operates two other factories dedicated to assembling battery swap stations in Kunshan, Jiangsu province, and Hefei, Anhui province.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo by Sundry Photography on Shutterstock

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