Nio BaaS

Under the BaaS plan, the monthly rental fee for the 60-kWh battery pack is RMB 599 ($83), a 33.37 percent reduction from that of the 85-kWh battery pack.

The delivery wait time for the Onvo L90 has doubled, and the wait time for the L60 has also been slightly extended.

Mirattery said one of its founding shareholders, Hubei Science Technology Investment, has increased bet in its Series C round of financing.

Mirattery said that the strategic partnership covers equity investment, battery rental service operations and user services, and the joint construction of battery swap networks.

This is one of Onvo's latest efforts to optimize the car using experience following a change in its management.

CATL will increase its bet on Mirattery, in addition to advancing its investment in Nio Power, according to local media.

Mirattery saw the size of its battery assets under management grow from 0 to 10 GWh in 44 months, and from 10 GWh to 20 GWh in just nine months, the company said.

Nio made significant changes to its BaaS service on March 14, making it easier for car owners to buy out batteries while lowering the cost of monthly rentals.

Of that 10 GWh of battery assets, they contain more than 17,000 tons of nickel, more than 6,300 tons of cobalt and more than 5,700 tons of lithium.

Nio has dramatically restructured its BaaS battery rental option in an attempt to make its cars more attractive in the face of fierce price competition, though emphasizing that it's not a response to the ongoing price war.