Jinwu Financial News | Some reports quoted sources as saying that NIO (09866) has reached an agreement with BYD (01211) to purchase batteries from the latter for its low-cost electric vehicle brand. NIO launched this new brand to compete with Tesla. According to the report, BYD will work with Ningde Times to provide a small battery pack for an electric vehicle of the new brand “Ledao”, and China Airlines, which is already a supplier of NIO, will provide it with a large 85 kilowatt-hour battery pack. According to the report, NIO claimed that the information was inaccurate, but did not provide details.
According to other sources, NIO Ledao's first model, the L60, is expected to be released in mid-May this year and is positioned as a pure electric coupe. NIO Li Bin once revealed that the first car of Le Dao will be compared to the Tesla Model Y, and the cost will be reduced by about 10%. At the technical level, all Ledao L60 models are built on a 900V silicon carbide platform, equipped with a 60 kWh lithium iron phosphate battery pack and a 90 kWh ternary lithium battery pack, which are provided by BYD and Ningde Era, respectively.