Nio Hits 100 Million EV Battery Swaps, Eyes First Profit
As electric vehicle (EV) adoption accelerates globally and in Australia, attention is often focused on the expansion of charging infrastructure. However, Chinese EV manufacturer Nio has been steadily advancing its distinctive battery-swapping technology, recently surpassing a significant milestone: 100 million battery swaps completed worldwide.
A Milestone in Battery Swapping Technology
William Li, CEO and founder of Nio, announced the achievement on X (formerly Twitter), stating, “Proud to share that at 22:33:18 (UTC+8) on February 6, 2026, NIO hit 100,000,000th battery swap! Huge thanks to everyone who made this possible. Let’s Power Up!” A video accompanying the announcement depicted Li and Nio users celebrating the moment.
This accomplishment follows closely behind another key development for the company. Earlier in the week, Li indicated that Nio anticipates reporting a profit exceeding A$140 million for the fourth quarter of 2025, which would mark its first-ever profitable quarter.
The company’s battery swap network has seen rapid growth. It took Nio over four years to complete the first 10 million swaps. However, the most recent 10 million swaps, from 90 million to 100 million, were achieved in just 100 days, indicating a substantial acceleration in adoption and usage.
Battery Swapping: Efficiency and Affordability
Nio’s battery swapping stations are now established across numerous locations in China and have expanded into international markets, including Europe. The technology offers a significant time advantage, with the latest Nio models capable of completing a battery swap in approximately three minutes – a process often faster than charging many EVs during a road trip.
Beyond convenience, battery swapping also contributes to making EVs more accessible through Nio’s Battery as a Service (BaaS) model. This allows customers to purchase a vehicle at a reduced initial cost by renting the battery, with ongoing payments managed through the swap network.
For example, the Nio Onvo L60 SUV, positioned as a competitor to the Tesla Model Y, has a starting price of A$42,500. With the BaaS option, this price drops to A$30,800, offering a saving of over 25% on the initial purchase, albeit with recurring rental fees.
Future Prospects in Australia
Nio has confirmed plans to launch its Firefly-branded products in Australia in 2026. While the brand technically supports battery swapping, the existing infrastructure for passenger vehicle battery swaps in Australia is yet to be established. Given that the Firefly models are expected to go on sale in Australia in the latter half of 2025, it is probable they will primarily utilize charging rather than swapping upon market entry.
The potential introduction of the Onvo and premium Nio brands in Australia could present interesting competition for existing luxury vehicle manufacturers in the market.
The 100 million battery swaps milestone underscores that battery swapping is a viable and scalable solution, not merely a theoretical concept. As companies like Nio continue to innovate and expand their offerings internationally, the appeal of electric vehicles is further strengthened, potentially accelerating the global transition away from fossil fuel-powered transportation.