Etiqueta: CATL

Nio has reportedly signed a battery deal with BYD for its new line of affordable Onvo vehicles. Despite the news, NIO stock is down 2.5%.

Chinese automaker Nio and BYD are considering a battery supply collaboration.

CATL continues to be No. 1, but with a slightly reduced share from Jan-February. BYD is back in second place, overtaking LG Energy Solution.

BYD will supply smaller battery packs for one version of Onvo's new EV, according to Reuters.

China electric vehicle maker Nio has struck a deal with larger rival BYD to source batteries for an EV brand priced at a lower range that aims to compete with Tesla, three sources with direct knowledge of the matter said. It also shows the impact of unrelenting competition over the price of new EVs in China's market, and batteries, the largest single cost in a new vehicle. Nio, which launched as a start-up a decade ago, had intended to produce batteries in-house but abandoned those plans in December as it shifted its focus to cutting costs to reverse losses.

Exclusive-China's Nio turns to rival BYD to power new EV brand, sources say

Just a fraction of the country's almost 200 manufacturers is expected to survive. Read more at straitstimes.com.

Elon Musk is touting Full Self-Driving. BYD broke out as margins soar.

Read ahead to discover how Japanese car brands cooperate with China to further auto intelligence