NIO hands entire Wuhan battery-swap network to state owners

NIO Power and the Optics Valley Transport Group held a ceremony on August 12 delivering the first batch of 36 jointly operated charging and swap stations in Wuhan, transferring all of the city's existing swap-station assets to state ownership under a model where the state-capital partner holds the assets and NIO operates them. NIO has now struck similar deals with more than 40 state-capital platforms and financial institutions across 25 Chinese provinces, jointly building and operating over 800 swap stations.