Nio's battery subsidiary achieves a major milestone with a $145 million funding boost!
In a recent development, Mirattery, the battery asset management company under the Nio umbrella, has secured an impressive $145 million in its latest C3 financing round. But this isn't just any ordinary funding round; it's a testament to the company's growing influence and the potential of its innovative business model.
Here's the scoop: Mirattery, which manages Nio's Battery as a Service (BaaS) program, has been on a fundraising spree since December 2025. The latest C3 round saw the introduction of two new state-owned enterprise shareholders from Hefei, the city that hosts three of Nio's manufacturing plants. This strategic move brings the total Series C financing to a staggering RMB 2 billion, with the C3 round alone contributing RMB 1 billion.
But here's where it gets interesting: Mirattery's success isn't just about the numbers. The company's unique BaaS model, which allows EV owners to lease batteries instead of buying them, has been a game-changer. This approach not only reduces the upfront cost of EV ownership but also ensures that users always have access to the latest battery technology. And this is the part most people miss—by separating the battery from the vehicle, Mirattery is creating a new paradigm in the EV industry, one that could revolutionize how we think about electric mobility.
The company's progress is evident in its numbers. To date, Mirattery manages battery assets exceeding 42 GWh, serving over 550,000 users. This scale is a clear indication of the market's acceptance of the BaaS model and the company's effective management of these assets.
Mirattery's journey began in August 2020 with a joint investment from CATL, Nio, Guotai Junan, and Hubei Science Technology Investment. Since then, it has been on a mission to transform the EV battery landscape. The recent funding rounds, including the expanded Series C and the RMB 501 million REITs issuance, demonstrate the market's confidence in Mirattery's vision.
So, what does this mean for the future of EV batteries? Will Mirattery's model become the new norm, or will it face challenges from traditional ownership models? Share your thoughts in the comments below. The world of EV technology is evolving, and Mirattery is certainly one to watch!
