Gasgoo Munich- On August 12, NIO Power and the Optics Valley Transport Group gathered in Wuhan for a handover ceremony marking the first batch of jointly built charging and swapping stations. The partnership's initial 36 stations are now officially delivered. This venture operates on a model where "state-owned partners hold the assets while NIO provides professional operations." Under this arrangement, the Optics Valley Transport Group retains ownership of the infrastructure, while NIO Power manages daily operations.
Image source: ONVO
Crucially, with this handover complete, NIO's existing battery swap assets within Wuhan city are now entirely held by state-owned partners. The two parties plan to extend this model to other sites across Hubei province and beyond, rolling out similar collaborations nationwide.
For NIO, bringing in local state capital to own these assets marks a shift away from relying solely on corporate funding for infrastructure construction. Battery swapping networks are capital-intensive by nature; as the network expands, the demands on capital and operational efficiency only intensify.
The Wuhan project is therefore more than a simple site handover; it signals the further evolution of NIO's battery swapping business model toward a "separation of asset ownership and professional operation." Data from NIO shows that NIO Power has already partnered with over 40 local state-owned platforms and financial institutions across 25 provinces and regions, bringing more than 800 swap stations into operation.
Image source: ONVO
The infrastructure footprint continues to expand. As of August 12, NIO reported 9,198 EV charging and battery swapping stations nationwide, comprising 4,017 swap stations and 5,181 charging stations equipped with 29,875 charging piles. The network has delivered over 120 million battery swaps and more than 200 million total charging and swapping services to date.
Yet, leading the pack in network scale doesn't guarantee the economics of battery swapping are fully resolved. As ultra-fast charging technology for new energy vehicles continues to advance, swapping must still prove its worth in terms of site utilization rates, asset returns, and cross-brand compatibility. Transferring infrastructure assets to local state-owned partners helps alleviate NIO's capital burden, but the long-term success will ultimately hinge on operational efficiency and whether this cooperation model can be replicated at scale.
Judging by the Wuhan handover, NIO is actively reshaping its role to focus on battery swapping technology and network operations. Rather than merely increasing the number of sites, the key question for the market is whether this asset-light model can reduce expansion costs and improve the sustainability of its charging and swapping business.
