Rahul Somvanshi
NIO, the Chinese electric vehicle (EV) start-up had a profitable sales result in February, delivering 12,157 cars, a 98% YoY increase. Their majority of sales were in China. The company’s crossover/SUV sales reduced 18% YoY to 5,037 units, while electric sedan sales added to 7,120 units. NIO didn’t not provide a breakdown of individual models. NIO managed to sell over 122,000 EVs globally in 2022, and cumulative sales amounted to 310,219. NIO is upgrading to the new NT 2.0 platform and discounting some older NT 1.0 models.
Battery Swap Stations and Expansion in Europe
NIO has commenced operations of its first EV battery swap station in Denmark. It is located in Slagelse, which is 100 km southwest of Copenhagen. The centrally situated station offers battery swap access to new NIO drivers in European countries. The automaker now has 1,331 swap stations and 350 fast charging stations world over. NIO aims to install an additional 1,000 battery swap stations in 2023, taking the total to over 2,300 by the end of the year. NIO’s battery swap infrastructure is also used to upgrade vehicles from lower battery capacity to higher battery capacity. Users pay a monthly fee to use their cars, and the batteries belong to NIO.
NIO is expanding in Europe and is planning to add new markets such as the Netherlands and Sweden. The automaker has considered licensing the battery swap station technology to other companies on the continent. NIO also provides third-party charging access for European customers and has access to almost 390,000 chargers.
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In a Nutshell
NIO’s strong EV sales in February and expanding battery swap station network in Europe are good news for the firm. NIO’s discounting of older NT 1.0 models will help transition to the new NT 2.0 platform. The battery swap infrastructure is also a unique offering from NIO, enabling users to upgrade their cars from lower battery capacity to higher battery capacity. NIO’s expansion in Europe and access to third-party charging stations is an advantage for its customers. NIO is growing, and its expansion plans are impressive.
