- Companies
- NIO Power
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
Website
Status
Privately held
Customer focus
B2C
Revenue model
Usage-based
Valuation
$2.1B (May 2024)
Sectors
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
| Date | Stage | Valuation |
|---|---|---|
| May 2024 | Undisclosed 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2026 | Series C | Haining Economic Development Zone; Hefei Construction Investment; Hainan Chengmai; Meishan Dongpo | $146M | - | - |
| Dec 2025 | Series C | Haining 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 2024 | Undisclosed stage | Wuhan Optics Valley Industrial Investment (lead) | $207M | $2.1B | NIO 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Dec 2025 | ||
| 2 | Participant | Dec 2025 | ||
| 1 | Lead | May 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | Chongqing |
| Deal Date | 28 Sep 2026 |
| Valuation | $2.4B |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all NIO Power acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $802M | $684M | $2.1B | 6.6x | ||
| Publicly listed | $3B | $254M | $2.1B | 0.8x | ||
| Publicly listed | $1.7B | $246M | $2.1B | 0.8x | ||
| Publicly listed | $482M | $281M | $2B | 3.1x | ||
| Private | - | - | $2.2B | - | ||
| Private | $978M | $24M | $2.5B | 2.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $802M | $684M | 5.6x | 6.6x | 6.6x | 8.2x | |||
| $3B | $254M | 1.0x | 0.8x | 12.0x | 10.6x | |||
| $1.7B | $246M | 0.9x | 0.8x | 6.6x | 10.5x | |||
| $482M | $281M | 4.2x | 3.1x | 7.2x | 4.5x | |||
| $7.4B | $73M | 2.0x | 1.8x | 197.2x | 4.2x | |||
| $2.5B | $334M | 0.6x | 0.5x | 4.8x | 4.7x | |||
| $1.4B | $218M | 1.8x | 1.7x | 11.6x | 7.5x | |||
| $1.3B | $467M | 3.9x | 3.7x | 10.8x | 10.4x | |||
This data is available for Pro users. Sign up to see all NIO Power competitors and their valuation data. Start Free Trial | ||||||||
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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