Nio (NYSE: NIO) demand was high in August, as indicated by the over 20176 EV delivered, marking a 4th month with over 20000 vehicles delivered, albeit with a slight dip from July.
Nio announced it will tweak its charging model for its battery swap service in China. This will be the third major system revamp since the service was unveiled. Nio’s signature battery-swapping service is intended to help balance the user experience and the cost.
Nio announced through its mobile app that it will hold a user briefing on the adjustments to the charging model for battery swap stations this Friday, September 6, at 7 p.m. Beijing time. Potential Nio owners are also invited to attend the event, which will be held in person and streamed online.
Nio is also expected to announce the unaudited financial results for the second quota of 2024 just before the US markets open.
Currently, 838 of Nio’s 2,500 battery-swapping stations are located near highways. Nio is also pushing to expand its infrastructure in Europe. It has 54 swapping stations, with Norway and Germany each having 18.
In March, NIO started offering its clients the option to buy the battery packs, with the money they had spent leasing the batteries included in the final cost. However, according to NIO co-founder Qin Lihong, 70% of NIO owners still choose the battery leasing option even with that option.
If a significant majority of NIO’s buyers are opting for this feature, it suggests that a broader base of EV customers could find similar value in such an offering. With NIO distinguishing itself through this approach, it can potentially drive additional sales. Furthermore, the company’s leadership in battery-swapping technology, a service unique in the industry, positions NIO with a competitive edge in the evolving EV market.
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