The surge comes as CEO William Li targets profitability in Nio’s power business, with plans to add 1,000 new swap stations in 2026.
- The company logged an all-time high of 177,627 daily battery swaps during the Spring Festival travel rush.
- The company operates 3,750 battery swap stations across China, including 1,022 on expressways, and recently crossed 100 million cumulative swaps.
- Nio posted record Q4 deliveries of 124,807 vehicles and forecast its first-ever adjusted operating profit.
Shares of Nio, Inc. (NIO) rose about 4% in Hong Kong trading on Monday as the Chinese EV maker returned from the Lunar New Year holiday with a string of record-breaking battery swap milestones during China’s Spring Festival travel rush.
Nio Battery Swaps Hit New High
Nio said it set consecutive daily battery swap service records during the 2026 Spring Festival holiday period, which ran from Feb. 15 to Feb. 23. On Sunday, the sixth day of the Chinese New Year, the company logged 177,627 battery swaps in a single day, marking a new all-time high, according to a report by CnEVPost.
This was the sixth time in February that Nio’s battery swap service broke its historical record, and the fifth consecutive day of setting a new daily high.
Nio Scales Battery Swap Network
Nio currently operates 3,750 battery swap stations across China, including 1,022 located along expressways, connecting 550 cities nationwide. On Feb. 6, the company hit a cumulative milestone of 100 million battery swap services.
Onvo vehicles currently share battery swap stations with the Nio brand, while Firefly vehicles do not yet use the service. Nio currently operates 3,750 battery swap stations across China, including 1,022 located along expressways, connecting 550 cities nationwide.
The surge in battery swap activity during the Lunar New Year travel period comes amid plans outlined by CEO William Li, who has said Nio’s next target is profitability in its power business following the 100 millionth swap milestone. The company plans to open 1,000 additional battery swap stations in 2026 and begin mass construction of fifth-generation swap stations. Nio said it has invested more than 18 billion yuan in charging and battery-swapping infrastructure over the past 11 years.
Record Q4 Vehicle Deliveries
Nio delivered 27,182 vehicles last month, up 96.1% from the previous year, though deliveries were down 43.5% from December. Of the January deliveries, 20,894 were Nio-branded vehicles, 3,481 were Onvo models, and 2,807 were Firefly vehicles.
In the fourth quarter of 2025, Nio delivered a record 124,807 vehicles across its Nio, Onvo, and Firefly brands, marking a roughly 72% year-on-year increase.
Nio’s First-Ever Profit Forecast
Nio has said it expects to achieve its first-ever adjusted operating profit in the fourth quarter of 2025, based on preliminary unaudited figures. The company forecast adjusted operating profit of 700 million yuan ($101.3 million) to 1.2 billion yuan ($173.7 million), compared with an adjusted operating loss of 5.54 billion yuan a year earlier. On a GAAP basis, Nio expects operating profit of 200 million yuan to 700 million yuan.
The company attributed the expected turnaround to growth in sales volumes, improved vehicle margins driven by a favorable product mix, and ongoing cost reduction efforts. Revenue in the third quarter rose 17% to 21.79 billion yuan, though results missed analyst estimates.
However, Nio has warned that the first quarter of 2026 could be weak as national stimulus measures, including vehicle purchase tax incentives, begin to phase down, calling it an industry-wide challenge.
Sector Headwinds Persist
Earlier this month, JPMorgan lowered its price target on Nio to $7 from $8 while maintaining an ‘Overweight’ rating, citing expectations that China’s auto industry could underperform in 2026 as passenger vehicle growth turns negative and margins come under pressure. The brokerage cut its earnings forecast for Nio to a loss for the year, despite the company’s projected profitability.
Industry data from the China Passenger Car Association showed China’s passenger new energy vehicle wholesale sales totaled about 900,000 units in January, up 1% year on year but down more than 42% month on month.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for Nio was ‘neutral’ amid ‘normal’ message volume.
One user said, “Good things are happening as we all know. Big money will be more interested as we break thru $5 again. Of course shorts could cover and along with FOMO certainly the race to old highs would commence. Patience. Glta”
Another user said, “What’s important is not the raw count of swaps. Swaps/station is the most important metric. Breakeven is estimated to be 64. The 50ish yesterday is a very pleasant sight but we know that will decline post holiday.”
U.S.-listed Nio shares have declined 0.6% year to date.
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