Source | Yuan Auto

"Firefly now provides two battery variants, and NIO’s battery swap stations are set to support nearly 10 distinct battery models soon."

On October 23, NIO’s premium smart electric compact car brand, Firefly, officially announced that both new and existing customers can now upgrade to a 60kWh battery pack. The market generally views this move positively, though there are concerns about how this will impact the subsequent battery swap experience within NIO’s ecosystem.

The addition of a larger battery pack to Firefly’s lineup is commendable not only because it positions the car as the sole pure electric compact car on the market with a CLTC range of up to 560 kilometers but also because it underscores NIO’s commitment to fulfilling its promises and actively responding to user needs. The concerns regarding NIO’s battery swap system arise from the increasing diversity of battery models being managed at the swap stations, as the battery swap experience is arguably NIO’s most significant competitive edge.

Such concerns are understandable.

According to Yuan Auto’s compilation, there are currently six main battery models circulating in NIO’s battery swap stations: three from NIO, two from LEAPMOTOR, and one from Firefly, excluding the newly added Firefly 60kWh battery pack. In other words, NIO’s own batteries alone will necessitate the stocking of at least seven different models at the swap stations in the short term.

Image source: @ Who is Xiaomeng _ (Who is Xiaomeng_)

Considering that William Li recently unveiled NIO’s plan to introduce a new 120kWh battery, and Geely’s battery swap models for the general consumer market have already taken preliminary shape, it is not far-fetched to envision the use of battery packs with yet another new specification. If NIO’s battery swap stations are to manage nearly or even more than 10 different battery pack models in the future, it is entirely plausible.

However, it would be premature to assume that NIO’s battery swap system would be unable to cope.

On the one hand, NIO’s battery swap stations are far from reaching their full capacity. Data indicates that NIO’s latest-generation battery swap stations can accommodate up to 28 batteries. According to Yuan Auto’s observations of fifth-generation battery swap stations in the Greater Bay Area, including Guangzhou and Shenzhen, on October 23, these stations are currently equipped with 15 to 20 battery packs, indicating that there is generally at least around 30% spare capacity available.

It is worth noting that NIO’s steady-state construction target for fifth-generation battery swap stations is 150 stations per month. After completing the first fifth-generation station in August, NIO accelerated its construction pace to nearly 100 stations per month in September.

On the other hand, NIO will not indiscriminately introduce new battery models. Taking Firefly’s addition of a 60kWh large battery pack as an example, if sales volume had not met expectations and there had not been strong demand, it is improbable that new and existing customers would have had their wish fulfilled.

A prime illustration of this is Shen Fei, President of LEAPMOTOR, who recently declined users’ requests to introduce a 100kWh battery pack again due to “unfavorable cost-benefit ratios.”

Moreover, NIO allocates the number of battery types equipped in fifth-generation battery swap stations based on a rigorous and scientific model. In simple terms, if a particular region has a high concentration of large-battery Firefly cars, then the battery swap stations in that region will stock more large batteries, and vice versa.

Overall, NIO is not apprehensive about having numerous battery types because the fifth-generation battery swap stations were designed with this in mind from the outset. NIO is even less concerned about selling more cars or having more automakers join the battery swap ecosystem. If all else fails, constructing additional battery swap stations can resolve the issue. What NIO fears is a decline in the usage of its battery swap stations.

Returning to Firefly itself, as a premium compact car in the 100,000-150,000 yuan range that is on the verge of reaching the milestone of “100,000 deliveries,” the addition of a 60kWh battery pack for Firefly is widely anticipated. Many existing customers hope that the vehicle can achieve a longer range with a larger-capacity battery, making it more suitable for cross-city commuting and even long-distance travel.

Regarding the most pressing concern of costs, if new customers opt for the 60kWh battery pack when purchasing a vehicle, the monthly rental fee under the BaaS (Battery as a Service) battery rental service plan is 599 yuan, which is 200 yuan more expensive than the 42kWh battery pack. Under the full-purchase plan, they will have to pay an additional 17,000 yuan.

For Firefly customers who have already taken delivery of their vehicles, if they wish to upgrade to the 60kWh battery pack, the cost will be essentially in line with that for new buyers, but they will enjoy benefits including point rebates and a “buy 4 get 1 free” offer for BaaS battery rental service fees. It should be noted that existing customers who choose the BaaS battery rental service will need to pay an additional 2,000 yuan service fee after limited-time discounts when upgrading their battery pack.

Whether the addition of a larger battery can further boost Firefly’s orders remains to be seen over time, but what is certain is that NIO’s battery swap system is becoming increasingly refined and is growing more appealing to consumers and even competitors.

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