Written by Kitai | LinkedIn | Twitter | YouTube
Nio is reportedly constructing a new factory for the production of electric vehicle (EV) batteries in China, not unlike the ones Tesla have. The battery plant will support an estimated annual production capacity of 40GWh, enough to supply power to 400,000 electric vehicles.
The battery development team at NIO has been increased to an impressive 1,000 individuals and is working on their own LMFP and 46 series ternary batteries.
This battery plant had originally been slated to start production in 2025, however with the commencement of construction of the first section of the manufacturing complex located in Hefei, there is now a possibility that mass production could occur before this.
NIO's announcement that it would build its own battery factory came one week after signing a five-year strategic partnership agreement with CATL. The move is seen as an attempt to reduce their reliance on the largest supplier of their batteries. Just prior to the announcement, CATL had begun implementing reduced rates and fixed purchasing volume agreements with certain automotive companies.
Since last year, NIO has heavily invested in battery research. In May 2022, they intended to dedicate approximately 218 million yuan ($31 million) to leasing an industrial plant in Shanghai's Jiading District for R&D and trial production of their batteries. This was followed by the formation of their NIO Battery Technology (Anhui) Co., Ltd. that October with a business scope involving both manufacturing and selling batteries.
William Li, founder of NIO, announced in June of 2020 that Alpine -- a sub-brand of theirs -- would use batteries developed internally. They anticipate 800V high-voltage battery packs to be available during the second half of 2024 and boast 1,000 team members working on battery technology as of now.
NIO and CATL New Strategic Battery & Technology Partnership
NIO and CATL signed a five-year comprehensive strategic cooperation agreement in the city of Ningde China to strengthen their partnership, with the intention of advancing their respective EV brands and technology, growing battery supply chains, and extending their reach into new markets.
Additional News
Can NIO Beat Their Quarterly Delivery Records By Selling 40K Plus EV's in Q1 of 2023!
NIO is known for setting new Q1 delivery records and beating the previous year's Q4 records. In Q4 of 2020, NIO delivered 17,353 EVs. The company then beating the said record in Q1 of 2021 and sold 20,060 EVs.
The New NIO EC7 Flagship Coupe SUV Come With 572 Miles Of Ranges
The all-new EC7 comes with 644bhp, 627 lb-ft twin-motor, four-wheel drive powertrain, this enables the vehicle to complete a 0-62mph acceleration within 3.8 seconds.
$NIO Cuts Q4 2022 Delivery Expectations.
Chinese EV startup NIO as EV cut deliveries expectations for December 2022. So far NIO has done well to deliver over 91,000 EVs in 2022. The company has sold 41K ES6s, 29,900 ES8s, and almost 30K EC6s. To say this company is undervalued is an understatement.
YouTube channel
Thank you for reading.
Member discussion