Chinese EV maker Nio plans own battery plant to cut reliance on CATL

Chinese EV maker Nio plans own battery plant to cut reliance on CATL

FILE PHOTO: A Nio ET5 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. REUTERS/Aly Song

Nio plans to build its first battery plant to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on CATL for supplies.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter