The NIO Inc. business model combines vehicle sales with recurring revenue streams from services, subscriptions, and energy solutions. Core revenue is generated from the sale of premium electric vehicles, supported by a growing ecosystem of services. Battery-as-a-service is a central component, allowing customers to subscribe to battery usage, reducing upfront costs and creating recurring revenue. Charging and battery swapping services further enhance customer convenience and engagement. NIO also generates revenue from digital services, including software features and autonomous driving capabilities. Its integrated approach aligns hardware, software, and services into a cohesive ecosystem. By focusing on both one-time sales and recurring revenue streams, the model supports long-term customer relationships and enhances lifetime value.