Stock Track | NIO Inc. Soars 3.23% as Company Achieves 90 Million Battery Swap Milestone

Stock Track10-27

NIO Inc. (NIO.SI) shares are soaring 3.23% in Monday's pre-market trading following the announcement of a significant operational milestone. The Chinese electric vehicle manufacturer has officially completed its 90 millionth battery swap service, as revealed by founder, chairman, and CEO Li Bin on the evening of October 26.

The achievement highlights NIO's rapid growth and increasing adoption of its innovative battery swap technology. According to Li Bin, while it took the company 1,506 days to reach its first 10 million swaps, the latest 10 million (from 80 million to 90 million) were completed in just 100 days. This accelerated pace demonstrates the growing popularity and efficiency of NIO's battery swap stations.

Investors appear to be reacting positively to this news, seeing it as a strong indicator of NIO's market penetration and the success of its unique approach to EV charging. Li Bin expressed gratitude to NIO's users for their support and set an ambitious next goal of reaching 100 million battery swaps. As NIO continues to expand its battery swap network and increase its service efficiency, the company may be well-positioned for further growth in the competitive electric vehicle market.

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