NIO(US:NIO) 36氪·2025-11-04 13:14Core Viewpoint - The article discusses the recent financing activities of Weinan, a battery asset management company under NIO, highlighting its growth and strategic importance in the battery swapping business model [5][12]. Financing Activities - Weinan has recently completed a C round financing of 670 million yuan, bringing its total financing to at least 1.42 billion yuan over five years [4][6][7]. - The latest round of financing included additional investments from founding shareholders and introduced new state-owned capital shareholders [10]. Business Model and Operations - Weinan operates under a "battery-as-a-service" (BaaS) model, focusing on battery asset management and providing battery rental services to users [12][15]. - The company has achieved an operational battery asset scale exceeding 30 GWh and serves over 400,000 users [16]. - Weinan has built 8,329 energy charging and swapping stations, with 3,553 dedicated to battery swapping [17]. Performance Metrics - The cumulative number of battery swaps has surpassed 90.68 million, with an average daily swap volume exceeding 100,000, approaching a milestone of 100 million swaps [18]. - Weinan has filed over 160 patents, with 59% of them being inventions, indicating a strong focus on innovation [16]. Lifecycle Management - Weinan is responsible for the monitoring, management, evaluation, and recycling of batteries throughout their entire lifecycle, including secondary utilization for energy storage [22].