Nio BaaS

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.

Nio's BaaS (battery as a service) service will be upgraded and the company will hold a user communication session following the announcement of the strategy.

Owners of vehicles with purchase invoice dates on or after January 1, 2024 will only be eligible to buy out the battery packs after one year.

As of now, the number of BaaS users who want to opt out of the plan and buy the battery is extremely small, Nio said.

For those who initially chose to purchase a car under the BaaS option, Nio will offer them an option they can regret.