Mirattery has completed the world’s first power battery REITs issuance. The deal closed on Wednesday at RMB 501 million (about $72.5 million). This milestone represents a major leap forward in electric vehicle infrastructure financing.
Mirattery serves as the battery asset operator for Nio Inc. Specifically, the underlying assets consist of power batteries that the company leases to vehicle owners. These batteries directly support Nio’s Battery as a Service (BaaS) model, which lowers upfront vehicle costs for consumers.
Notably, this marks the first “held-for-investment” power battery REITs. It functions as a hold-type asset-backed security (ABS), or quasi-REIT. Unlike traditional short-term ABS structures, this vehicle holds income-generating assets over the long term. As a result, it delivers more stable returns to investors.
CITIC Securities led the transaction, and the Shanghai Stock Exchange actively supported it. Consequently, this deal signals growing institutional confidence in innovative EV-related finance.
As of January 2026, Mirattery manages more than 40 GWh of battery assets. Therefore, it now ranks among the world’s largest dedicated battery leasing platforms.
The company plans to use the REITs structure to accelerate its asset-light strategy. This approach will reduce capital intensity. It will also strengthen Mirattery’s balance sheet. Moreover, it unlocks diversified funding sources beyond conventional debt or equity raises.
Mirattery was founded on August 18, 2020. Its founding partners include Nio, CATL, Guotai Junan Securities, and Hubei Science Technology Investment Group.
Nio launched its BaaS program in the same month. Since then, Mirattery has managed every leased battery pack in the ecosystem.
In recent years, the company has steadily expanded its securitization efforts. For example, it has issued multiple ABS and ABN deals. Additionally, in December 2025, Mirattery secured nearly RMB 1 billion through a Series C equity round.
This REITs launch aligns closely with Nio’s network expansion. In January 2026, Nio added over 4,200 long-range battery packs to its swap stations. This move increases demand for Mirattery’s managed assets and reinforces the value of its portfolio.
In summary, the debut of power battery REITs demonstrates that battery leasing can be both scalable and financially viable. Furthermore, it establishes a global benchmark for monetizing clean energy infrastructure. For Mirattery, this innovation paves the way for sustainable, long-term growth—both on the road and in financial markets.
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