Wei Energy completed its Series B financing on its first anniversary

On August 13, Wuhan Weineng Battery Asset Co., Ltd. (hereinafter referred to as "Weineng") completed a round B financing of several hundred million yuan. This round of financing received support from many investors, including continued investment from old shareholders NIO, Guotai Junan International, and Sky Capital, as well as investment support from new investors such as the old investment institution Paradise Silicon Valley, Xiamen International Trade, which focuses on investment in emerging industries, and Yangtze River Optics Valley New Energy Fund. The funds will be mainly used for the continued high-speed growth of BaaS (Battery as a Service) battery rental services and the development of battery technology-related innovative projects.

This round of financing was completed on the occasion of the first anniversary of NIO's establishment. Over the past year, the company has developed rapidly, with a total financing amount of nearly RMB 2 billion. The continued attention of various investors also shows that the capital market is optimistic about NIO's BaaS business in the long term.

As the world's first digital battery asset operation company, NIO's mission is to "improve battery management efficiency and create a low-carbon energy world". With cross-border innovations in finance, data intelligence and battery technology, it continuously optimizes battery asset full life cycle operation technology to maximize the value of battery assets.

The scale of assets currently operated by Weineng ranks first in the industry, reaching tens of billions of RMB, with a market share of over 90%. The current operating assets mainly include 70kWh and 100kWh NCM ternary lithium batteries. With the rapid growth of BaaS leasing business and the continuous expansion of various innovative businesses, the scale of various types of assets operated by Weineng will also increase significantly year by year.

BaaS battery rental service is one of Wei Energy's core products. Since its launch one year ago, it has been recognized by automakers, users and the industry. The product mainly makes full use of the battery swap design of automakers' models and the established national battery swap station network system to provide end users with a "rechargeable, swappable and upgradeable" battery service model, which greatly promotes the vigorous development of the new energy vehicle market.