Power Up 2024 will be held on August 20 in Wuhan, Hubei, central China. For the past three years, Nio had held the Nio Power Day events in the summer of each year.

Nio (NYSE: NIO) has renamed Nio Power Day, its event on power-supply systems, Power Up, holding the event three times previously.

The Chinese electric vehicle (EV) maker announced the name change today, saying it reflects Nio's commitment to improving the power-up experience for its customers and its desire to convey a positive spirit through the term Power Up.

The Power Up 2024 event will be held on August 20 in Wuhan, Hubei province in central China, Nio said, adding that it will share its thoughts and practices on EV charging and battery swap industry development, as well as unveil Nio Power's latest infrastructure layout plans and new technologies and products.

A poster shared by Nio on Weibo shows that the event will start at 2:15 pm Beijing Time on August 20 and will be live-streamed on platforms including the Nio App and Weibo.

For the past three years, Nio has held a Nio Power Day events in the summer of each year to unveil its infrastructure developments.

The first Nio Power Day was held on July 9, 2021, in Shanghai, home to Nio's global headquarters, when the company upped its target of adding 500 battery swap stations in 2021 to over 700 stations.

The second Nio Power Day was held in Shanghai on July 6, 2022, when Nio unveiled 500-kW ultra-fast chargers and previewed the third-generation battery swap station.

The third Nio Power Day was held in Beijing on July 20, 2023, when the company presented the latest state of its replenishment system.

Putting Power Up 2024 in Wuhan may have something to do with Nio's local battery swap station factory.

Nio established a project to build a new battery swap station assembly plant in Wuhan, which is expected to start production in September, Nio founder, chairman and CEO William Li said at a July 24 user meetup event.

Once the Wuhan plant is completed, Nio will have three battery swap stations assembly plants, with the other two in Kunshan, Jiangsu province, and Hefei, Anhui province, he said at the time.

The company announced on May 31 that its power unit, Nio Power, had received a RMB 1.5 billion ($210 million) strategic investment from Wuhan investors, the first outside investment in the unit.

Nio's vehicles are currently produced at its F1 and F2 factories in Hefei, Anhui province.

Nio announced at the end of last year that it would continue to add 1,000 battery swap stations in China in 2024, but with the slow pace of progress so far this year, that goal may be delayed.

If any setbacks may occur, there could be a delay of up to 1-2 months in reaching the target, Li said at the user event.

($1 = RMB 7.1374)

Nio may see delay in 2024 swap station buildout target, 3rd swap station plant to open in Sept