NIO Unveils Power UP 2024: A Game-Changing Event for EV Innovation
August 20, 2024, Wuhan, China – NIO hosted Power UP 2024 in Wuhan, Hubei Province. Following a development path that features “User-Centric”, “Tech-Driven”, “Infrastructure in Advance” and “Openness and Cooperation”, NIO has always been committed to making continuous investment into the charging and swapping infrastructure and technological innovation with the aim of offering users hassle-free recharging experience. At the event, NIO shared its plan on “Power Up Counties” and announced the “Power Up Partner” plan staring from its Chinese market, as well as its latest recharging technology and application.
Power Up Counties Plan Released
At the Power UP 2024, William Li, the Founder, Chairman and CEO of NIO, announced the planning on “Power Up Counties”, which consists of the county-level charging network and the county-level battery swapping network in China.
With the plan, NIO is to expand its charging network, installing chargers in all counties in China by June 30, 2025. Moreover, NIO will carry out the plan to expand battery swapping network carried out in three phases: By June 30, 2025, NIO Power Swap Station (PSS) will be built in over 1,200 counties of 14 provincial-level administrative divisions; by December 31, 2025, the PSS network will be available in counties of another 13 provincial-level administrative divisions. By then, NIO PSS will have covered over 2,300 counties of 27 provincial-level administrative divisions. Starting 2026, NIO will expand coverage in the remaining provincial-level administrative divisions. NIO’s charging and swapping network is expected to be enhanced and expanded with the release of “Power Up Counties”, offering convenient, efficient and reassuring experiences for NIO, ONVO and other NEV users.
Being user-centric, NIO began to deploy the charging and swapping infrastructure as early as 2018 when it first started vehicle delivery. As of August 20, 2024, NIO has put in place 2,480 PSS and 23,009 NIO chargers, and has completed more than 51 million battery swaps for users.
Power Up Partner Plan Launched
At Power UP 2024, NIO announced the new “Power Up Partner” plan, with which NIO invites all partners to jointly build and share the profit of charging and swapping stations. At the event, the first Power Up Partners, including East China Construction Investment Co., Ltd. of China Energy Engineering Corporation, Xi’an Chengtou New Energy Co., Ltd., Guangdong Grid Electric Vehicle Service Co., Ltd., Ningbo Joycharge Co., Ltd., Shandong Sanneng Intelligent Industrial Park Co., Ltd., and Guizhou Yuanqiyu New Energy Technology Co., Ltd., signed the cooperation agreements with NIO Power to jointly expand the recharging network for NEVs.
Believing that cooperation is always a better option, NIO has been open and cooperative in charging and swapping technology and network access. NIO chargers have been accessible to all NEV users since the beginning and have served users of over 200 other car brands, with over 600,000 registered users. NIO has partnered with 20 car brands to open up the charging networks mutually. Now, over 80% of electricity NIO provides via charging is for non-NIO cars.
So far, NIO has established strategic partnerships in charging and swapping with seven auto companies, i.e., FAW Group, Chang’an Automobile, GAC Group, Geely Holding Group, Chery Automobile, JAC Group, and Lotus. In addition, NIO has been engaged in comprehensive cooperation with energy companies, including SINOPEC, PetroChina, CNOOC, Shell, State Grid Corporation of China, China Southern Power Grid, Anhui Wenergy, and Zhongan Energy, in the pursuit of a standardized, unified power network of broader coverage
NIO Power to Build Factory in Wuhan
In addition to launching “Power Up Counties” and “Power Up Partner”, NIO Power also announced that it would double down on investment in Wuhan, to further strengthen its R&D, manufacturing and operations of the charging and swapping network, energy internet, and other key areas. NIO Power will establish its new headquarters in Optics Valley in Wuhan where NIO Power will also build a new factory with an installed capacity of over 1,000 Power Swap Stations. NIO Power’s 640kW liquid-cooled Power Charger and 40kW portable V2V charger were also introduced. Moreover, NIO Power presented its latest innovation in V2G, V2V as well as digital technologies for energy management.
Wuhan is where NIO Power’s headquarters are located. Since its incorporation in May 2017, NIO Power has been dedicated to in-house research and development of core technologies, continuously creating innovation and developing full-stack capabilities of R&D, manufacturing and operations in areas such as charging, swapping, energy storage, battery service and energy internet. In May 2024, NIO Power received a strategic investment of RMB 1.5 billion from Wuhan.
NIO Power’s new headquarters and power factory will further propel its innovation and growth in charging, swapping and energy internet, which will attract more enterprises along the value chain to cluster together in Wuhan, making contributions to the development of the city’s energy internet.
About NIO
NIO is a global smart electric vehicle company founded in November 2014. Dedicated to creating a joyful lifestyle for users by providing high-performance smart electric vehicles and exceptional user experiences, NIO is the first car company listed in the United States, Hong Kong, and Singapore. NIO currently has two major brands under its umbrella: NIO and ONVO.
After more than nine years of development, NIO has become one of the world’s leading smart electric vehicle companies. NIO is committed to the forward development of core technologies, and as of the end of June 2024, the company has filed for and obtained over 9,000 patents. Additionally, NIO has developed NIO Full Stack, a collection of 12 technology domains.
NIO has R&D and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, San Jose, Munich, Oxford, Berlin, Budapest, and Singapore. The company has also established sales and service networks in China, Norway, Germany, the Netherlands, Sweden, and Denmark.
NIO currently offers eight high-end smart electric vehicle models. ONVO’s first product will be launched in September 2024. As of June 30, 2024, NIO has delivered a total of 537,020 vehicles, leading the premium BEV segment priced above RMB 300,000.
Media Contact:
Emma Hai