It is rumored that a major electric vehicle manufacturer in China plans to build an electric vehicle battery factory in Hefei.

(Reuters file photo)

[Financial Channel/Comprehensive Report] According to Reuters, citing people familiar with the matter, Chinese electric car brand NIO plans to build its first battery factory to reduce dependence on suppliers such as Chinese battery manufacturer CATL.

Nio plans to produce large cylindrical batteries similar to those used by Tesla. The new factory will have an annual production capacity of 4 billion kilowatt-hours (GWh), enough to power about 400,000 electric vehicles, according to people familiar with the matter.

The site of the factory is set to be in Hefei, Anhui Province, East China.

Please read on...

Weilai has been strengthening its efforts in battery research and development.

In June last year, Li Bin, chairman of Weilai, said that the company expects to start producing fast-charging and swapping battery packs on the 800V high-voltage platform with faster charging speeds in the second half of 2024.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news