In 2017, NIO demonstrated the concept of unattended parking assist and battery swapping at the Wukesong Stadium on NIO Day. NIO's Power Swap technology has been one of the most beloved features for our users. There are more than 1,300 Power Swap Stations in China, including the 10 operating Power Swap Stations in Europe. In total, they have performed more than 15 million swaps. NIO’s goal is to install 120 Power Swap Stations in Europe by the end of 2023, making electric driving more comfortable and faster than ever, even over longer distances.

Over the past five years, over RMB 2 billion have been invested in NIO's Power Swap technology, over 600 engineers participated in the R&D tests, and over 1,200 patents were filed. Most technological advantages and innovations are battery swapping facilities, fastener bolt suites, vehicle integration and validation, and encrypted vehicle-station wireless communication.

With a large-scale battery-swapping network for private cars, NIO is a pioneer in setting international and industrial standards for battery-swapping and has already compiled five relevant standards and applied for over 1,000 relevant patents. NIO has always continued the pursuit of continuous innovation.

Providing comprehensive services enabled by vehicle-battery separation, battery subscription, and the chargeable, swappable, and upgradable battery, NIO BaaS is a breakthrough innovation in both technology and business models. The successful launch of BaaS is another significant milestone for NIO. BaaS further addresses users' concerns about buying smart electric vehicles, provides users with a better purchasing and using experience, and will win more ICE vehicle owners to choose NIO.

Please consider viewing how NIO makes recharging beyond refueling reality, where we explain how NIO delivers a better power recharging experience to our users and how we develop our power cloud system and optimize the recharging scenarios.

In addition, the European NIO Power Swap Station network is expanding rapidly. On December 29, 2022, another NIO Power Swap Station opened in Den Hoorn, the third location in the Netherlands. There are now a total of 10 NIO Swap Stations open for European users (including two in Germany, three in Norway, and two in Sweden).

A Power Swap Station can perform up to 312 swaps per day and charge up to 13 batteries with a power of 20 to 80 kW per battery. NIO's Power Swap Stations will soon be offering the option to play a role in balancing the grid frequency in Europe. NIO's Power Swap technology can thus play an important role in making the electricity network more efficient to provide sustainable energy.