HEFEI -- Chinese electric car maker Nio's 100,000th vehicle rolled off the production line on Wednesday in Hefei, capital of East China's Anhui province.

It took NIO 1,046 days to complete the production of 100,000 smart electric vehicles, with an average price of 428,000 yuan (around $65,300) per unit, according to the company.

NIO has invested over 14 billion yuan in research and development (R&D) and will inject another 5 billion yuan in R&D in 2021, according to the company.

It added that a total of 197 NIO battery swapping stations have been built across China, and the number is expected to jump to 500 by the end of this year.

Founded in November 2014, NIO is a pioneer in China's premium electric vehicle market, with its global headquarters located in Shanghai and China headquarters in Hefei.