NIO Inc. is leveraging its power swap stations as customer engagement points in regions without physical stores, aiming to boost sales without traditional retail spaces. Approximately 60% of users cite power swap capability as their primary reason for choosing ONVO vehicles, highlighting its market appeal. In Xingfu Town, Shandong Province, over 1,000 NIO users have been acquired solely through several power swap stations, demonstrating their impact on sales. NIO currently holds a Zacks Rank #3 (Hold).
Stellantis N.V. is piloting modular battery swapping in Madrid’s car-sharing market, using Fiat 500e vehicles supported by Ample’s technology. Meanwhile, Ford Motor Company has filed a patent for a new battery-swapping system that utilizes a drive-up docking station, leveraging the vehicle’s own power to streamline the process.
NIO’s shares have gained 27.1% year to date, significantly outperforming the Zacks Automotive-Foreign industry, which grew by only 3.7%. However, NIO’s forward price-to-sales (P/S) ratio stands at 0.71, above the industry’s 0.45, indicating it may be overvalued.
