Finding
NIO is the only automaker that runs battery swapping at national scale, and in late 2025 it posted its first quarterly operating profit
NIO delivered 326,028 vehicles in 2025, up 47%, and reported a GAAP operating profit of about 810 million yuan in the fourth quarter after the third-generation ES8 and the ONVO L90 took off. It targets 40-50% growth and full-year non-GAAP profit in 2026.
Every NIO car carries a pack with a standard mechanical, electrical and cooling interface, so a first-generation ES6 and an ET9 can use the same stations. Owners can buy the pack or rent it under Battery as a Service (BaaS), which lowers the purchase price and leaves pack degradation with NIO. The network passed 100 million swaps and is near 4,000 stations, with about 1,000 more planned in 2026. ONVO and Firefly use their own swap-compatible packs. See NIO EV Platforms.
NIO pays for this by designing more of the car in-house than any Chinese startup except BYD: the XPT electric drive units built in Nanjing, the 5 nm Shenji NX9031 driving chip, SkyOS, and the NT3 900-volt architecture. CYVN Holdings of Abu Dhabi is the largest shareholder and the Hefei government holds a stake in the main operating company. CATL invested in NIO Power in 2025, and Changan, Geely, Chery, JAC, GAC and Lotus have signed swap or charging partnerships, but no other automaker yet sells cars on NIO's swap standard at volume.
Plants
Plants and factories
NIO built cars under contract with JAC until it bought the Hefei plants and gained its own manufacturing license. It has no overseas vehicle plant.
| Plant | Location | Products | Status |
|---|---|---|---|
| NIO Advanced Manufacturing Center (F1) | Xinqiao, Hefei, Anhui, China | NIO sedans and SUVs | Producing |
| NIO F2 plant | Xinqiao, Hefei, Anhui, China | NT2 and NT3 models; ONVO | Producing |
| NIO battery pack plant | Hefei, Anhui, China | Swappable packs | Producing |
| XPT electric drive plant | Nanjing, Jiangsu, China | Motors, inverters and drive units | Producing |
| NIO Power Europe | Biatorbagy, Hungary | Swap stations for Europe | Producing |
Battery
Battery cells and lines
NIO designs and assembles packs; it does not make cells at scale. See battery cell gigafactories and CATL battery platforms.
| Source | Type | Chemistry and format | Used in |
|---|---|---|---|
| CATL | Supplier and NIO Power investor | NMC and LFP prismatic cells; long-life cells for BaaS | NIO and ONVO packs |
| CALB | Supplier | NMC and LFP prismatic cells | NIO packs |
| WeLion | Supplier | Semi-solid-state cells, 150 kWh pack | ET7, ES6, ET5 (rental pack) |
| NIO pack lines | In-house | 75, 100 and 150 kWh swappable packs; standard interface | All NIO brand models |
| NIO cell program | In-house R&D | Hybrid LFP-NMC 75 kWh pack; own cell development | Limited |
Platforms
Vehicle platforms
NT2 (2021) introduced the Adam computer on four NVIDIA Orin X chips and the Aquila sensor suite with roof LiDAR. NT3 (2024) moved to 900 V on the ET9 and third-generation ES8, with two Shenji NX9031 chips, SkyOS and SkyRide steer-by-wire. ONVO uses a 900 V NIO-derived platform; Firefly has its own compact-car architecture. The swap interface fixes the pack envelope across generations, which limits cell-to-body integration. Full comparison: NIO EV Platforms.
EV models
EV models
All NIO Inc. models are battery-electric.
| Model | Segment | Platform |
|---|---|---|
| NIO ET5, ET5T | Midsize sedan, wagon | NT2 |
| NIO ET7 | Large sedan | NT2 |
| NIO ET9 | Flagship sedan | NT3 |
| NIO ES6, EC6 | Midsize SUV, coupe SUV | NT2 |
| NIO EC7 | Large coupe SUV | NT2 |
| NIO ES8 (third generation) | Large SUV | NT3 |
| ONVO L60 | Midsize SUV | ONVO 900 V |
| ONVO L90 | Large three-row SUV | ONVO 900 V |
| Firefly | Small hatchback | Firefly |
| Model list will be fed from the EV models dataset | ||
Beyond cars
Robots, autonomy and energy
NIO has no humanoid or robotaxi program. Its energy business is the largest of any EV maker in China. See charging networks and compute platforms.
| Program | Area | Status |
|---|---|---|
| NIO Power swap network | Energy | About 4,000 stations, mostly in China, plus Europe; third- and fourth-generation stations |
| NIO Power charging | Charging | Superchargers and destination chargers, open to other brands |
| Battery as a Service (BaaS) | Energy | Pack rental with upgrades; packs owned by a NIO-backed asset company |
| Shenji NX9031 | Silicon | 5 nm driving chip in NT3 cars; second generation in production |
| NOP+ and NWM | Driver assistance | Navigate on Pilot and NIO World Model driving stack |
Partners
Suppliers and customers
Main external relationships.
| Partner | Role | Relationship |
|---|---|---|
| CATL | Cell supplier, investor | Cells and long-life batteries; investment in NIO Power (2025) |
| CALB | Cell supplier | Prismatic cells |
| WeLion | Cell supplier | Semi-solid-state 150 kWh pack |
| NVIDIA | Compute supplier | Orin X in NT2 cars and ONVO |
| JAC Group | Former contract manufacturer | Built NIO cars in Hefei until NIO took over the plants |
| CYVN Holdings (Abu Dhabi) | Investor | Largest shareholder |
| Changan, Geely, Chery, GAC, Lotus | Swap and charging partners | Power Up partnerships; limited volume so far |
Sources
Sources and scope
- Scope
- NIO
- Sources
- NIO quarterly and annual results (2025-2026); NIO Power announcements; press reports on swap network (2026)
- Updated
- October 2026