Nio registered a new battery technology subsidiary in Shanghai on Wednesday, new corporate registration filings showed on Thursday.
The premium EV maker — known for being the largest operator of battery swap stations — reached its 100 millionth swap in China earlier this month and aims to install 1,000 new stations this year across the country.
Weilai Battery Technology (Shanghai) Co Ltd was established with a registered capital of 100 million yuan ($14.6 million), according to business registration platform Tianyancha.
The entity is wholly owned by the EV maker through its Shanghai Nio Automobile Co Ltd firm, with Zeng Shizhe named as legal representative.
Its business scope covers battery sales, cargo and technology import/export, electronic specialty materials R&D, graphite and carbon products sales, new energy vehicle parts and accessories, AI application software development, and inspection and testing services.
Existing Battery Entities
The new entity follows an existing and far larger battery subsidiary — Weilai Battery Technology (Anhui) Co Ltd — which was established in October 2022 with a registered capital of 2 billion yuan ($280 million).
The Anhui company is wholly owned by Nio Holdings and covers battery manufacturing and sales, electronic materials R&D, and automotive parts production.
The Anhui entity recently underwent notable corporate changes with CEO William Li’s role adjusted from Chairman to Director, while Zeng Shuxiang was replaced as legal representative, Director, and General Manager by He Xu.
Mirattery, Nio’s battery asset operator in China, was founded in August 2020 as the company launched its battery as a service (BaaS) program — where customers can lease the vehicle’s battery instead of purchasing it outright.
Earlier on Thursday, Nio announced that its chip subsidiary Shenji secured 2.257 billion yuan ($330 million) in its first external funding round.
CATL Partnership
The new subsidiary comes a month after Nio deepened its relationship with Contemporary Amperex Technology Co Ltd (CATL), the world’s largest battery manufacturer.
In the first days of 2026, the two companies signed a five-year strategic cooperation agreement — the latest in a series of deals that have transformed what began as a supplier relationship into one of the closest partnerships in China’s EV industry.
CATL said the two companies will deepen cooperation across three major areas — technology, ecosystem, and market — to “jointly promote technological advancement and business model innovation in the new energy vehicle industry.”
Neither company disclosed financial terms. The signing took place in Hefei, where Nio operates three EV factories.
“Through a structured and long-term cooperation framework, both parties will jointly address industry transformation and provide users with a safer, more efficient, and more sustainable electric mobility experience,” CATL wrote on social media at the time.
Consolidating Supply
The announcement came two weeks after local media outlet 36Kr reported that Nio halted battery supply cooperation with BYD’s FinDreams Battery unit for its Onvo sub-brand’s L60 midsize SUV, citing insufficient orders to sustain multiple suppliers.
At the same time, CATL took over supply of 100-kWh battery packs for the core Nio brand that were previously supplied partly by CALB, according to the report.
CATL has supplied batteries for Nio since the automaker’s first mass-production vehicle, the original ES8, launched in 2018.
Battery Swap Network
Earlier on Thursday, the company released its 2026 Spring Festival charging report, which showed the network provided over 3.27 million services during the holiday period, including 2.0735 million battery swaps.
The figures mark a 29.4% increase over last year’s Spring Festival daily average as Nio’s customer base increased by more than 300,000 vehicles.
Earlier this week, single-day swaps reached a new record of more than 170,000 swaps, marking a new record for the Shanghai-based EV maker
Of the 4,926 charging stations Nio has opened to the broader industry, 85% of the electricity delivered served non-Nio brands.
The EV maker plans to add over 1,000 new stations this year and build more than 100 scenic charging routes across China.
