New York, February 23, 2026, 05:01 EST — Premarket
- NIO shares ticked up in premarket trading, mirroring gains in Hong Kong after the company set fresh battery-swap records over the holiday.
- Nio logged 177,627 swaps on Feb. 22, pushing its streak of daily records further during the Spring Festival travel peak.
- Investors are eyeing February delivery numbers, with the next set of quarterly results due out in mid-March.
Nio Inc’s U.S. shares picked up roughly 2.2% in Monday’s premarket, hitting $5.18 after ending Friday at $5.07. Over the last year, the stock’s seen a range from $3.02 up to $8.02.
Nio rolled out the update on its battery-swap network over the weekend. The system lets drivers swap out a drained battery for a fully charged one within minutes, sidestepping charging waits.
The swap business stands out as one of the only near-daily indicators available to investors between earnings reports and monthly delivery updates. It’s a way to see if Nio’s big infrastructure bets are actually locking customers into its ecosystem.
Nio logged 177,627 battery swaps across China on Feb. 22, marking its fifth consecutive daily record during the Spring Festival holiday, according to CnEVPost. The busiest location handled 191 swaps in a single day. The automaker now counts 3,750 swap stations nationwide, with 1,022 situated along expressways.
Nio shares gained 5.5% in Hong Kong, finishing Monday at HK$41.10, HSBC warrants data showed.
Battery swapping eats up capital. Sure, stronger utilisation helps to dilute those fixed costs, but if post-holiday travel demand dips, the hefty recurring bill doesn’t shrink—it stands out even more.
Nio put out a profit alert earlier this month, projecting adjusted operating profit for the fourth quarter between 700 million and 1.2 billion yuan. The carmaker clarified these numbers don’t include share-based compensation, which it calls a non-cash cost, and noted the figures are still subject to change as it wraps up its final results.
Still, swap numbers aren’t a straight read on new-car demand. A lot of activity is just churn from existing users, and if commuters go back to their old routines, volumes could drop off fast.
Eyes now turn to the company’s February delivery numbers, due out in early March, with the full Q4 earnings on the calendar for March 19, according to Investing.com.
