The inaugural Fortune Asia Future 30, in partnership with BCG, recognizes companies with long-term growth potential.

Fortune Asia Future 30

These innovative companies are laying the foundations for robust growth—and outsize returns for shareholders.

Future 50 2023-NIO Inc.

Like No. 5 Li Auto, Nio has been steadily gaining ground selling electric vehicles in China, where government subsidies have helped the EV industry grow a consumer base. Through October of 2023, the Shanghai-based manufacturer said it had delivered more than 126,000 vehicles for the year—up 36% from the year-earlier period—and more than 415,000 cumulatively since its 2014 debut.

The Future 50

As we face unprecedented collective challenges, cooperation has become a business superpower.

47.CTW20.42.Nio

An electric vehicle without a battery. It sounds like a prank, but the new business model of Chinese EV maker Nio could revolutionize an industry held back by sticker shock, range anxiety, and lack of charging infrastructure. Nio’s battery as a service, or BaaS, announced this summer, lets customers purchase a battery-less Nio and separately subscribe to chargeable, swappable, and upgradable batteries. The model relies on a network of battery-swapping stations; there are 143 in China so far. Nio sees the strategy as a way to lower costs—its EVs cost between $52,000 and $68,000 but sell for $10,000 less without the battery—and appeal to drivers who prefer not to be tethered to public charging stations. The approach aims more broadly to tear down barriers to EV ownership and, ultimately, to promote the decarbonization of transport.

Change the World

Change The World

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Future 50

Overall Score

NIO designs, manufactures and sells smart electric vehicles, and is banking on a premium brand image, autonomous driving technology, and a battery swapping model to help it stand out in China's crowded market. The Shanghai, China-based EV startup, founded in 2014, is backed by CYVN, an Abu Dhabi, UAE investment fund.

Customers standing around a NIO electric car.

NIO (NIO): Company Profile, Stock Price, News, Rankings

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Companies

NIO | Fortune

NIO (NIO): Company Profile, Stock Price, News, Rankings | Fortune

Christiaan Hetzner

Just as Tesla reclaims $1 trillion market cap, worrying data out of China has investors asking questions

/2025/05/13/elon-musk-tesla-china-sales-worrying-investors-byd-nio-xpeng/

Nicholas Gordon

Nio is facing heavy competition in China’s fierce EV market. Making key design decisions ‘within hours’ could help it break through

/asia/2025/05/02/nio-design-make-decisions-hours-ev-competition/

Andrew Nusca

A trifling waste of time

/2024/09/24/a-trifling-waste-of-time/

Vivienne Walt

Inside Volkswagen’s $130 billion EV battle

/2024/08/01/volkswagen-electric-vehicles-evs-competition-china-us-europe-production-sales/

Bloomberg

Car executives are the newest livestreamers taking over China: ‘Even a 60-year-old man like me has to do this’

/asia/2024/06/24/car-executives-are-newest-livestreamers-taking-over-china-xiaomi-lei-jin-nio-william-li-electric-car/

He made history as the first human to receive Neuralink’s brain–computer interface. Paralyzed from the shoulders down since a 2016 accident, he can now play chess, text friends, and control a computer using only his thoughts. In his first major in-depth conversation, Noland Arbaugh shares—and shows—his extraordinary journey from life-changing surgery to becoming a pioneer of neurotechnology. What does it mean to live as the prototype of a new human machine future, and what comes next for accessibility, independence, and human potential?

Noland Arbaugh
First Human Neuralink BCI Recipient, Neurotech Pioneer 

Jessica Mathews
Senior Writer, Fortune

Mind over Matter

Conferences

A new generation of defense tech startups is reshaping national security by bringing Silicon Valley’s speed and software to the front lines. Leaders from Anduril Industries, Vannevar Labs, and Allen Control Systems will discuss how they're deploying AI, autonomous systems, and counter-drone technologies to military users, including the Department of Defense. The conversation will explore scaling in a high-stakes environment, the connections—and tensions—between Silicon Valley and Washington, D.C., and the changing nature of warfare in the 21st century.

Erin Biggers
Vice President, Mission, Vannevar Labs 

Megan Milam
Senior Vice President, Government Relations, Anduril Industries 

Steve Simoni
Cofounder and President, Allen Control Systems 

Allie Garfinkle
Senior Reporter; Cochair, Fortune Brainstorm

Innovation on the Front Lines

How is technology—especially AI—reshaping the built environment, guest experience, and creative process itself? In this Brainstorm Design conversation, we bring together Kristen Conry, who leads global design at Marriott International, and Jordan Goldstein, co-CEO of the world’s largest architecture and design firm, Gensler. From generative design to adaptive spaces, what does it mean to design for a world in flux?

Kristen Conry
Senior Vice President, Global Design, Marriott International 

Jordan Goldstein
Co-chief Executive Officer, Gensler

Designing a New Way to Think

AI is fueling a new wave of unicorns—just as venture capital hits an inflection point. As billion-dollar companies emerge faster than ever (or flame out just as quickly), investors are rethinking how to evaluate resilience, allocate capital, and support companies beyond the first wave of hype. This panel explores what it takes to build real, lasting businesses in the AI era—and how venture capital is evolving to meet the moment.

David Krane
Managing Partner and CEO, GV 

Dana Settle
Cofounder and Managing Partner, Greycroft 

Allie Garfinkle
Senior Reporter; Cochair, Fortune Brainstorm

NIO

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