hina’s electric vehicle maker Nio has set profitability in its power and energy services business as its next major objective, following the completion of its 100 millionth battery swap service, founder and CEO William Li said in an open letter to users.
The milestone was reached on February 6, around 2,800 days after Nio launched its first battery swap station, marking what the company described as large-scale market validation of its battery swap model. Daily swap volumes have now exceeded 100,000, underscoring the system’s growing role in Nio’s broader vehicle ecosystem.
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Li said the company would continue strengthening the commercial operating capabilities of its charging and battery swap network to lay the groundwork for profitability. Nio plans to build 1,000 new battery swap stations in 2026 and is preparing to begin large-scale construction of its fifth-generation swap facilities.
The expanded network is expected to support not only Nio-branded vehicles but also future users of Firefly, Nio’s mass-market sub-brand launched in 2025. Firefly vehicles currently support battery-as-a-service (BaaS) purchases, although battery swapping has yet to be rolled out for the brand.
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Over the past decade, Nio has invested more than RMB 18 billion ($2.6 billion) in charging and battery swap infrastructure and has accumulated more than 2,100 related patents, Li said. The company positions battery swap stations as part of emerging urban energy systems, arguing they can help ease grid pressure and improve energy efficiency through grid interaction.
The profitability push comes as Nio works to improve its overall financial performance. Earlier this month, the company forecast its first quarterly profit under both GAAP and non-GAAP standards in the fourth quarter of 2025.
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Nio has also stepped up efforts to stimulate demand, including rolling out a seven-year low-interest financing plan for buyers in China. The automaker delivered 27,182 vehicles in January, nearly doubling year-on-year but falling sharply from December due to seasonal weakness and reduced policy support in the Chinese auto market.