Two years after launching its Battery-as-a-Service (BaaS) model, NIO has amended its program to allow those customers enrolled in battery swaps to opt out and purchase their EV battery. NIO states that its decision is based off feedback from consumers who regret their BaaS enrollment, but explains this group remains relatively small.
NIO ($NIO) is an EV automaker founded in China in 2014 that has since established itself as one of the leading electrified brands, beginning with its line of electrified SUVs. Alongside the addition of two EV sedans, NIO has begun expanding to other global markets, starting in Europe.
NIO is not just known for quality EVs, either. The Chinese automaker is the first to truly scale battery swap technology, offering BaaS to consumers while erecting new swap stations almost daily. Other major companies in China have joined the swap party since,…