Etiqueta: Onvo L60

Report says BYD will supply batteries to Nio for new brand Onvo

Report says BYD will supply batteries to Nio for new brand Onvo.

Nio’s Entry-Level Onvo L60 To Use BYD Battery Pack

The Chinese EV maker was initially aiming to make batteries in-house, before eventually dropping the plan with the aim of cutting down on costs.

Cars News: BYD's battery unit, FinDreams Battery, already supplies batteries to Tesla's Berlin plant and state-owned Chinese automakers such as FAW. However, mos

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

In China's EV sector, Nio (HKG: 9866) is said to have entered an agreement with rival BYD (HKG: 1211) to source batteries for its new EV brand

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