• Shanghai is the city with the most Nio battery swap stations, currently totaling 190.
• William Li said in February that Nio's battery swap stations in Shanghai were close to breaking even.

Nio Inc (NYSE: NIO) hit nine million battery swaps in Shanghai, marking a milestone for the business in the electric vehicle (EV) maker's global headquarters city.

The milestone was reached around 8 pm Beijing time on August 20, according to CnEVPost's monitoring of Nio's charging map.

Shanghai is the city with the most Nio battery swap stations, currently totaling 190.

On April 13 this year, Nio announced that it had reached the milestone of delivering its 100,000th vehicle in this eastern Chinese city.

Shanghai is one of China's megacities, with a population of about 24.8 million as of the end of 2024.

It is one of the cities with the highest utilization rates for Nio's battery swap stations, due to its high population density and developed economy.

The majority of Nio's stations in Shanghai provide services exceeding 100 times daily, according to Stanly Qu, the company's CFO, during a forum in November last year.

In February this year, Nio's founder, chairman, and CEO William Li said in a live video on the short video platform Douyin that the company's battery swap stations in Shanghai were nearing profitability.

Shen Fei, then Nio's vice president in charge of energy business, said in the same live video that Nio provided over 9,000 battery swap services daily in Shanghai and was soon to reach 10,000.

Shen began serving as president of Nio's sub-brand Onvo in April, while Nio Power's energy business is now overseen by Qu.