Weineng (Mirattery) was established in 2020 in Optics Valley as a joint venture backed by NIO and CATL. On March 12, Weineng (Mirattery), NIO’s battery asset management company, signed an agreement with the Wuhan East Lake High-Tech Development Zone (Optics Valley) for a new battery infrastructure project with a total investment of about RMB 9.8 billion ($1.43 billion), to be located in Wuhan. The project will focus on battery asset management, battery application technologies and the industrialization of related technologies, primarily serving users within NIO’s Battery as a Service (BaaS) ecosystem. Weineng was established in 2020 in Optics Valley as a joint venture backed by NIO and CATL. It is regarded as the world’s first battery asset management company built around the “vehicle-battery separation” model. Weineng (Mirattery) Headquaters Wuhan has long been a key hub for NIO’s energy-related business operations. As early as May 2024, NIO Power secured a strategic investment of RMB 1.5 billion ($218.40 million) from Wuhan Optics Valley funds and other institutions. The funding is mainly used to expand charging and battery swapping networks, energy storage systems, battery services and energy internet technologies, while also supporting vehicle-to-grid (V2G) development. Data show that in 2025, NIO completed fixed-asset investment of about RMB 12 billion ($1.75 billion) in the Wuhan region and generated service-sector revenue of about RMB 6.7 billion ($975.52 million). Beyond the battery segment, NIO has also invested in the first and second phases of its NIO Power headquarters in Optics Valley. NIO Power layout across China Nationwide, the company has built 3,754 battery swapping stations and more than 28,000 charging piles. The continued expansion of the swapping network also places higher requirements on battery asset management and scheduling capabilities. On the battery technology front, NIO is also advancing the development of longer-life battery systems. In March 2024, the company signed a cooperation agreement with CATL to jointly develop long-life power batteries. NIO signed a cooperation aggrement with CATL to jointly develop long-life power batteries. During a recent earnings conference call, NIO CEO William Li said power batteries are high-value electrochemical products whose lifespan often exceeds that of the vehicle itself. This characteristic forms the basis of the vehicle-battery separation model, which aims to improve lifecycle utilization by independently managing battery assets. According to current plans, NIO’s long-life battery, designed to maintain 85% health after 15 years of use, is expected to enter mass production between the second half of 2027 and 2028. At that point, monthly battery subscription fees are expected to decline further.
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