Shanghai (ZXZC)- NIO installed its 700th battery swap station in China on Dec. 10, hitting its annual target ahead of schedule, according to NIO’s press release.

NIO's 700th battery swap station in China; photo credit: NIO

Up until now, NIO has offered over 5.3 million battery swaps to users in China. The company said battery swapping has become one of favorite power supply solutions among NIO users.

NIO users refer to residence within a 3 km radius from a battery swap station as “Swap Station District House”. At the end of November, 42.34%% NIO users live in the swap station district. The startup aims to raise the percentage to 90% in 2025.

NIO also uses the concept “vehicle-to-station ratio” to describe the number of cars each NIO battery swap station serves on average. The ratio dropped to 258 by Nov. from 272 by Oct., indicating a higher distribution density of NIO’s battery swap stations.

Aside from the 700 battery swap stations, NIO's power supply network currently also includes 3,020 Power Chargers and 3,319 destination chargers, and has connected with over 430,000 third-party charging piles.