700!!! NIO reaches 700 swap stations as expected.

NIO announced today that it has reached 700 of its iconic battery swap stations, achieving its goal for the year ahead of schedule.

The company's 700th battery swap station is located in Lianyungang City, Jiangsu Province in eastern China.

To date, NIO has provided 5.3 million swaps to customers in China, and battery swap has become one of the most popular power solutions for NIO users, the company said.

At the end of November, 42.34 percent of NIO users live within three kilometers from their nearest battery swapping station. The "station to vehicle" ratio drops to 258, meaning on average each battery swap station serves 258 cars, NIO said.

Prior to July, NIO's goal was to have 500 battery swap stations by the end of the year, and at the inaugural NIO Power Day event on July 9, the company's co-founder and president, Qin Lihong, announced that the goal was raised to more than 700.

On September 21, NIO announced that it would complete its battery swap network covering eight major highways and four densely populated metropolitan areas by the Chinese New Year in 2022.

NIO said at the time that it aimed to have 169 facilities along the highway by that time. As of today, the number stands at 150.

The 200 battery swap stations built by NIO by mid-April this year are the first generation ones, and all new facilities after that are the second generation with greater service capacity.

NIO entered into a strategic cooperation agreement with Sinopec on April 15 to build battery swap stations in Sinopec gas stations.

NIO's first second-generation battery swap station was officially opened at Sinopec Chaoying gas station in Beijing on April 15, which was the first facility jointly built by the two companies and the 201st battery swap station of NIO.

On December 9, NIO announced that it had partnered with Sinopec to build 101 replenishment facilities, including 41 battery swap stations, 39 supercharging stations, and 21 destination charging stations.