Lei Jun, founder and chief executive of Xiaomi, has praised EV maker Nio for its battery swapping technology and service quality, citing them as “significant contributions” to China’s premium electric vehicle segment.
Nio was the first EV maker to deploy a large-scale battery swap network. After opening the first station in 2018 in Shenzhen, the company has installed over 3,380 stations in China and 60 in Europe since then.
Jun’s remarks, posted over the weekend, came in response to a Weibo post by Nio where the company recalled its milestones since 2015, including winning the first Formula E drivers’ championship and launching the battery-swapping network.
“Nio has made significant contributions to the development of China’s new energy vehicle industry,” Lei wrote.
“From winning the first Formula E championship, to pioneering the battery swapping model, and far exceeding industry standards in customer service, Nio is carving out its own path as a premium Chinese brand.”
Nio cited key moments such as the 2015 Formula E title with driver Nelson Piquet Jr., the 2016 unveiling of its EP9 supercar, and the launch of its first consumer vehicle in 2018. It also pointed to surpassing 100,000 vehicle deliveries in 2021 and the development of in-house technologies across electric drivetrains, battery-swapping stations and assisted driving systems.
“Nio insists on full-stack in-house development,” the company said, referring to its work on vehicle platforms, chips and software for cabin and driving experiences. “From the first model to today’s NT3.0 models, Nio has always maintained high standards in product quality and user experience.”
In May 2024, Lei visited Nio’s Shanghai campus amid the debut of its sub-brand Onvo, where he viewed the L60 SUV, the first model under the family-oriented marque.
Xiaomi last week launched its second electric vehicle and first SUV, the YU7, securing 240,000 pre-orders within 18 hours, according to the company.
In January, brokerage Haitong International named “Xiaomi acquires Nio” as one of its five bold predictions for 2025.
“Xiaomi acquires Nio…Nio’s battery swapping network expands, even opening up other automobile companies under patent protection,” the analyst wrote. Li Auto, Tesla, and Xiaomi establish a leading position in China’s smart driving sector.”
Nio‘s assistant vice-president of branding and communications, Ma Lin, wrote on Weibo: “Looks like the recognition is real and the conjecture is pure fiction.”
Late last year, Xiaomi joined the EV charging networks operated by Nio, XPeng and Li Auto, giving its vehicle users access to tens of thousands of charging points across China.
Chinese media reported last week that Nio is planning to expand to Hong Kong and Brazil with local distributors, as it continues its global expansion and the business model switch.
