NIO Power Valuation, Funding & Investors

NIO Power is valued at $2.1B as of May 2024.

Last NIO Power valuation

$2.1B

Undisclosed stage · May 2024

Last NIO Power funding round

$146M

Series C · Feb 2026

Cumulative funding NIO Power raised

$496M

across 3 funding rounds

Key investors in NIO Power

  • Hainan Chengmai
  • Haining Economic Development Zone
  • Wuhan Optics Valley Industrial Investment
  • Hefei Construction Investment
  • Meishan Dongpo

NIO Power Overview

About NIO Power

NIO Power is the energy solutions division of NIO Inc., providing battery swapping and charging infrastructure. Based in Shanghai, the unit manages Power Swap Stations and Power Mobile units across China. Integrated with NIO's Power Cloud platform, it enables seamless battery exchanges for ES8, ES6, and EC6 models, supporting nationwide travel for electric vehicle owners.


HQ

ChinaWuhan

Website

nio.cn

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Valuation

$2.1B (May 2024)

NIO Power Valuation

NIO Power is currently valued at $2.1B, based on its undisclosed-stage round in May 2024. Read the announcement ↗

The $207M round was led by Wuhan Optics Valley Industrial Investment.

NIO Power valuation by funding round

NIO Power valuation by funding round
DateStageValuation
May 2024Undisclosed stage$2.1B

NIO Power Funding History

NIO Power has raised a total of $496M across 3 funding rounds.

NIO Power's first fundraising round was a $207M undisclosed-stage round in May 2024. The most recent completed round was a $146M Series C in February 2026.

NIO Power funding rounds

NIO Power funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Series CHaining Economic Development Zone; Hefei Construction Investment; Hainan Chengmai; Meishan Dongpo$146M--
Dec 2025Series CHaining Economic Development Zone; Hainan Chengmai$143M-Mirattery, NIO's battery asset operator, completed an expanded Series C financing round totaling 1 billion yuan (approximately $142.7 million USD) as of December 26, 2025. Mirattery's operations focus on managing NIO's battery swap infrastructure, which requires high-turnover pack availability, real-time diagnostics, and multi-shift energy storage logistics to support NIO's growing swap-station network. The company first announced a 670 million yuan ($95.6 million USD) Series C on November 3, 2025, which was expanded in December with additional contributions from founding shareholders and new state-owned capital investors. The financing includes participation from Haining Economic Development Zone Industrial Park Development & Construction Co., Hainan Chengmai Development Holding Group Co., and a new state-owned enterprise from Dongpo District in Meishan, Sichuan. The proceeds are being deployed across battery asset investment, commercialization of industrial research outcomes, and expansion of research and development activities.
May 2024Undisclosed stageWuhan Optics Valley Industrial Investment (lead)$207M$2.1BNIO Power, the energy division of Chinese EV maker NIO established in Wuhan in May 2017, secured a strategic investment of RMB 1.5 billion (approximately $207-210 million) from Wuhan Optics Valley Industrial Investment and other local funds on or around May 31, 2024. This marked the unit's first external funding, primarily to expand charging and battery swapping networks, energy storage systems, battery services, energy internet technologies, and vehicle-to-grid (V2G) development. NIO Power, headquartered in Wuhan, operates a 20,000-square-meter battery swap station assembly plant with a planned maximum production capacity of 1,500 stations by 2025, generating an annual output value exceeding RMB 2 billion. The investment coincided with increased registered capital across NIO Power entities: Wuhan NIO Energy raised its capital to RMB 1.784 billion in June 2024 and later to RMB 2.222 billion, with the Optics Valley fund acquiring a 10% stake in one affiliate. Nanjing NIO Energy, a subsidiary, boosted its registered capital from RMB 20 million to RMB 250 million. NIO Power has built nationwide infrastructure including 3,753 battery swapping stations and over 28,000 charging piles as of recent reports, and relocated its headquarters to Optics Valley in Wuhan, establishing phases of its energy headquarters and a new factory for over 1,000 power swap stations. Related developments include NIO's joint venture Mirattery (Weineng), backed by NIO and CATL since 2020, signing a RMB 9.8 billion battery infrastructure project in Optics Valley on March 12, 2026. NIO's broader Wuhan operations involved RMB 12 billion in fixed-asset investment in 2025, with projected service revenue of RMB 6.7 billion that year, though not attributed specifically to NIO Power.

Who has invested in NIO Power?

5 investors have backed NIO Power across its funding rounds, including Hainan Chengmai, Haining Economic Development Zone, Wuhan Optics Valley Industrial Investment, Hefei Construction Investment and Meishan Dongpo.

Lead investors include Wuhan Optics Valley Industrial Investment.


NIO Power Investors

Investors in NIO Power by funding rounds participated
InvestorHQRoundsRoleFirst check
Haining Economic Development ZoneChinaChina2ParticipantDec 2025
Hainan ChengmaiChinaChina2ParticipantDec 2025
Wuhan Optics Valley Industrial InvestmentChinaWuhan1LeadMay 2024

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Acquisitions by NIO Power

NIO Power has acquired 1 company to date.

Last acquisition by NIO Power was on September 28th 2026. NIO Power acquired Yiyi (commercial swap unit) for $2.4B.


Latest Acquisitions by NIO Power

Yiyi (commercial swap unit)
Description
Yiyi Power, legally Yiyi Internet Technology (Chongqing) Co., Ltd., is a Chinese operator of battery-swapping stations for commercial vehicles. Its origins trace to 2016, when Geely's swap business was set up in Hangzhou as Gechi New Energy and later renamed Yiyi New Energy. The company completed its first swap station in Chongqing in 2020 and has since built a network of stations across Chinese cities, serving ride-hailing fleets, taxis and other commercial mobility operators. Customers pay per swap for a charged battery, so revenue is tied to usage; it also supplies swapping equipment and standards work with partners. It was part of Zhejiang Geely Holding Group and worked with NIO on common battery-swap standards for private and commercial vehicles from 2023. In September 2026 Geely agreed to contribute 100% of the company to a combination with NIO's swap business.
HQ CountryChina
HQ City
Chongqing
Deal Date28 Sep 2026
Valuation$2.4B
EV/Revenue
EV/EBITDA

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NIO Power Competitors

NIO Power competitors include listed companies like Alupar Investimento, Centuri Holdings, Indraprastha Gas and Dorian LPG, and private ones like Pinnacle Gas Services and Enpal.

Public and private companies comparable to NIO Power
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Alupar InvestimentoBrazilBrazilPublicly listed$802M$684M$2.1B6.6x
Centuri HoldingsUnited StatesUnited StatesPublicly listed$3B$254M$2.1B0.8x
Indraprastha GasIndiaIndiaPublicly listed$1.7B$246M$2.1B0.8x
Dorian LPGUnited StatesUnited StatesPublicly listed$482M$281M$2B3.1x
Pinnacle Gas ServicesUnited StatesDallas, TXPrivate--$2.2B-
EnpalGermanyBerlinPrivate$978M$24M$2.5B2.5x

NIO Power Public Comps

NIO Power is still privately-owned, but its public comps include Alupar Investimento, Centuri Holdings, Indraprastha Gas, Dorian LPG, Cosan, Gujarat Energy, Select Water, Northwest Natural Holdings, Liberty Energy and Auren Energia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alupar Investimento$802M$684M5.6x6.6x6.6x8.2x
Centuri Holdings$3B$254M1.0x0.8x12.0x10.6x
Indraprastha Gas$1.7B$246M0.9x0.8x6.6x10.5x
Dorian LPG$482M$281M4.2x3.1x7.2x4.5x
Cosan$7.4B$73M2.0x1.8x197.2x4.2x
Gujarat Energy$2.5B$334M0.6x0.5x4.8x4.7x
Select Water$1.4B$218M1.8x1.7x11.6x7.5x
Northwest Natural Holdings$1.3B$467M3.9x3.7x10.8x10.4x

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Common questions about NIO Power

Where is NIO Power headquartered?NIO Power is headquartered in Wuhan, China.
Is NIO Power publicly listed?No, NIO Power is a private, VC-backed company.
What is NIO Power's valuation?NIO Power was last valued at $2.1B in its undisclosed-stage round in May 2024.
How much funding has NIO Power raised?NIO Power has raised $496M across 3 funding rounds.
What was NIO Power's last funding round?NIO Power's last funding round was a $146M Series C in February 2026.
Who are NIO Power's investors?NIO Power's investors include Haining Economic Development Zone, Hainan Chengmai, Wuhan Optics Valley Industrial Investment, Hefei Construction Investment and Meishan Dongpo.
Which companies are comparable to NIO Power?Companies comparable to NIO Power include Alupar Investimento, Centuri Holdings, Indraprastha Gas, Dorian LPG, Pinnacle Gas Services and Enpal.
How many companies has NIO Power acquired?NIO Power has acquired 1 company, including Yiyi (commercial swap unit).
What was the largest acquisition by NIO Power?The $2.4B acquisition of Yiyi (commercial swap unit) in September 2026 is the largest acquisition NIO Power has made to date.

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