eastwest connect

NIO established a battery company with 2 billion yuan

NIO established a battery company with 2 billion yuan

On October 25, a reporter from Shanghai Securities News inquired about Tianyancha and found that NIO Battery Technology (Anhui) Co., Ltd. was established on October 21 with a registered capital of 2 billion yuan. Its legal representative is Zeng Shuxiang, and the chairman is Li Bin.

NIO Battery Technology (Anhui) Co., Ltd. is a wholly-owned subsidiary of NIO Holdings Co., Ltd. The new company’s business scope includes: technology import and export, battery manufacturing, graphite and carbon products manufacturing, auto parts and accessories manufacturing, sales of new energy vehicle electrical accessories, etc.

According to comment from First Financial, NIO has always been ambitious for power battery, the core component of electric vehicles. In the middle of this year, a message on the environmental information disclosure platform of Shanghai enterprises and institutions said that NIO would invest 218.5 million yuan to build 31 cell and battery pack R&D laboratories in Anting Town, Jiading District, Shanghai, and lay 1 Lithium-ion cell trial production line and a battery pack line.

In June this year, NIO CEO Li Bin also said in the first quarter earnings conference call that NIO has formed a battery-related team of more than 400 people and will launch an 800V high-voltage platform battery pack in 2024. In August this year, some media reported that NIO is developing its own lithium iron manganese phosphate and 4680 battery technology, and plans to mass-produce these two batteries for NIO and its sub-brand Alps.