![]() Nio may be facing increasing competition in China, but the company is not going to be relegated to its home market. ![]() Battery swapping also made Nio EVs eligible for Chinese government subsidies. It makes an EV more practical in Chinese urban areas where charging stations can be difficult to find. ![]() Leasing the battery separately from the rest of the car lowers purchase costs for consumers. The company’s BaaS (Battery as a Service) has proved to be a canny move. In July, it was 7,931 vehicles for 124.5% year-over-year growth. Its assembly lines are humming, and every month this year the story has been the same: massive year-over-year growth in vehicle deliveries. Back then, the company was lurching from disaster to disaster. Nio in 20 bears little resemblance to the Nio of 2019. First, let’s take a look at the good news for Nio moving forward.
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