Tesla Rival NIO Plans to Produce its Own EV Battery Packs to Improve Profitability

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Tesla Rival NIO Plans to Produce its Own EV Battery Packs to Improve Profitability

Electric vehicle startup NIO Inc, which is emerging as one of Tesla’s biggest competitors in China, plans to produce its own electric vehicle batteries as a way to boost profitability and competitiveness in the growing EV segment. NIO’s plans to produce its own batteries were shared by company Chairman William Li on a call with analysts on Thursday.

Tesla Rival NIO Plans to Produce its Own EV Battery Packs to Improve Profitability

2022-06-11 11:00

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