Quick Takeaways
- Mirattery Series C Financing reaches nearly RMB 2 billion, reinforcing Nio’s battery asset expansion strategy.
- Hefei state-backed investors deepen financial support for Nio’s battery leasing ecosystem.
Mirattery Series C Financing has climbed to nearly RMB 2 billion following the completion of its C3 equity round, marking a major capital boost for the battery asset operator of Nio Inc (NYSE: NIO, HKG: 9866). The company confirmed it secured an additional RMB 1 billion (approximately $145 million) in the latest tranche, signaling sustained investor confidence in its battery asset management and EV battery leasing model.
The latest funding phase introduces two state-owned enterprise shareholders from Hefei, Anhui Province — Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone Investment Promotion — further consolidating the city’s strategic backing of Nio’s battery ecosystem.
The expanded Mirattery Series C Financing underscores Hefei’s continuing commitment to the EV value chain. Hefei hosts three of Nio’s manufacturing plants and has played a pivotal role in supporting the automaker, notably stepping in during 2019 when the company required financial stabilization.
By bringing in Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone Investment Promotion, Mirattery strengthens alignment between local industrial policy and battery asset management expansion. The participation of state-backed capital highlights long-term confidence in the Nio battery asset operator’s scalable leasing structure and revenue stability.
According to the company, the fresh capital will be directed toward expanding battery asset management capabilities and accelerating innovation in battery technologies. Investors cited Mirattery’s financial performance, operational resilience, and growth outlook as key drivers behind the funding expansion.
Mirattery currently manages battery assets exceeding 42 GWh and serves more than 550,000 users under Nio’s BaaS framework. The battery asset management China model enables customers to lease batteries separately from vehicles, reducing upfront EV purchase costs while creating a recurring revenue structure.
Established on August 18, 2020, Mirattery was formed through joint investment by CATL (HKG: 3750, SHE: 300750), Nio, Guotai Junan, and Hubei Science Technology Investment. The company was launched alongside Nio’s Battery as a Service initiative in August 2020, with Mirattery appointed to manage leased battery assets across the network.
The Series C fundraising process has unfolded in multiple phases.
With the completion of the C3 round, the cumulative Series C amount now approaches RMB 2 billion, reflecting strong institutional backing for the EV battery leasing model and broader battery asset management China landscape.
Beyond equity financing, Mirattery also completed a RMB 501 million REITs issuance this week, diversifying its funding channels and enhancing capital efficiency. The combined financing strategy strengthens its balance sheet while supporting the rapid expansion of Nio’s battery asset operator platform in one of the world’s most competitive EV markets.
The latest funding phase introduces two state-owned enterprise shareholders from Hefei, Anhui Province — Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone Investment Promotion — further consolidating the city’s strategic backing of Nio’s battery ecosystem.
Mirattery Series C Financing Expands with Hefei State Support
The expanded Mirattery Series C Financing underscores Hefei’s continuing commitment to the EV value chain. Hefei hosts three of Nio’s manufacturing plants and has played a pivotal role in supporting the automaker, notably stepping in during 2019 when the company required financial stabilization.
Strategic Role of Hefei Investors
By bringing in Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone Investment Promotion, Mirattery strengthens alignment between local industrial policy and battery asset management expansion. The participation of state-backed capital highlights long-term confidence in the Nio battery asset operator’s scalable leasing structure and revenue stability.
According to the company, the fresh capital will be directed toward expanding battery asset management capabilities and accelerating innovation in battery technologies. Investors cited Mirattery’s financial performance, operational resilience, and growth outlook as key drivers behind the funding expansion.
Operational Scale and Battery Asset Management Growth
Mirattery currently manages battery assets exceeding 42 GWh and serves more than 550,000 users under Nio’s BaaS framework. The battery asset management China model enables customers to lease batteries separately from vehicles, reducing upfront EV purchase costs while creating a recurring revenue structure.
Foundation of the Nio BaaS Model
Established on August 18, 2020, Mirattery was formed through joint investment by CATL (HKG: 3750, SHE: 300750), Nio, Guotai Junan, and Hubei Science Technology Investment. The company was launched alongside Nio’s Battery as a Service initiative in August 2020, with Mirattery appointed to manage leased battery assets across the network.
The Series C fundraising process has unfolded in multiple phases.
- On November 3, 2025, Mirattery disclosed completion of a RMB 670 million Series C equity round, introducing two state-owned shareholders.
- On December 26, the total Series C funding expanded to nearly RMB 1 billion after adding another state-owned enterprise investor.
With the completion of the C3 round, the cumulative Series C amount now approaches RMB 2 billion, reflecting strong institutional backing for the EV battery leasing model and broader battery asset management China landscape.
Beyond equity financing, Mirattery also completed a RMB 501 million REITs issuance this week, diversifying its funding channels and enhancing capital efficiency. The combined financing strategy strengthens its balance sheet while supporting the rapid expansion of Nio’s battery asset operator platform in one of the world’s most competitive EV markets.
Company Press Release
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