NIO’s latest model, Onvo, solidifies its commitment to expanding its battery-swapping network, aiming to establish over 300 new stations per month, thereby providing Onvo car owners with seamless access to a comprehensive network of more than 1,000 stations by year-end. The battery-swapping infrastructure is expected to cover a vast network of 81 distinct routes – 9 vertical, 9 horizontal, and 63 intersections across 19 major metropolitan areas. This plan aims to offer Onvo homeowners battery swapping and rejuvenation options, mirroring the services currently provided by Nio.
Onvo has introduced the “Onvo Battery Swapping Wishlist”, a marketing initiative aimed at engaging with existing Onvo car owners and incorporating their feedback into its development strategy. The marketing campaign will conclude on September 3rd. Each Onovo automobile owner can select up to three preferred locations for their new battery-swapping stations on our interactive map during this designated period. The insights gathered will significantly influence the strategic deployment of future swapping stations.
The Onvo CEO, Ai Tiecheng, previously announced that the highly anticipated launch of the Onvo L60 is expected to take place in late September. The Onvo L60 SUV marks Onvo’s entry into the automotive industry with its inaugural vehicle. The new model is scheduled to hit production lines before the end of this month. Deliveries and drive tests are expected to be available on the launch day.
The Onvo L60 sequence is likely to be built on a 900-volt silicon carbide foundation, incorporating a Battery as a Service (BaaS) leasing model. The new electric vehicle will effectively utilize both 75kWh and 100kWh battery packs for daily commutes, while the larger 150kWh capacity enables extended road trips via convenient battery-swapping technology. The respective ranges for these battery packs are between 555km, 730km, and exceeding 1,000km.
NIO’s initial approach to driving market growth was to leverage partnerships with GAC and Changan, but this strategy ultimately faltered due to financial constraints. NIO’s latest endeavour aims to break into the mainstream consumer sphere with Onvo. CEO William Li harbours optimistic expectations for Onvo’s inaugural automotive endeavour, the L60, which boasts innovative battery-swapping capabilities seamlessly compatible with Nio’s fourth-generation swap stations and upgraded third-generation facilities. It’s likely that Onvo’s future swapping stations will be based on Nio’s fourth-generation battery swap technology.
By July 31, NIO had established a robust network of 820 freeway energy swap stations across China, achieving impressive milestones: more than 49.6 million battery swaps, 44.11 million charging sessions, and a remarkable 259,690 versatile battery upgrades.
With battery swapping being a pivotal feature for Nio, the company offers rapid refuelling and prolongs battery lifespan by circumventing degradation concerns.
At a valuation of approximately 3 million yuan ($419,000) per station, this includes Nio’s substantial debt of 76.4 billion yuan ($10.67 billion). To maintain equilibrium, Nio requires exactly sixty daily transactions. According to data, nearly 55% of Nio’s users opt for swapping stations at their convenience. As Nio’s latest Firefly model zeroes in on the European market, concerns over value for money and product intricacy are naturally heightened.
