Chinese electric vehicle manufacturer Nio has entered into a partnership with competitor BYD to acquire batteries for its new electric vehicle brand, according to sources. The move marks a strategic shift for BYD to expand its revenue sources beyond its existing EV brand. The collaboration underscores the fierce competition in China’s electric vehicle market, particularly in pricing where batteries are a significant cost component. Nio’s strategy change to prioritize cost reduction and the upcoming launch of its new brand, Onvo, are also highlighted. The involvement of battery manufacturers CATL and CALB is mentioned, along with insights on BYD’s battery subsidiary and production lines.
In a move to help the battery manufacturing industry for electric vehicles, the government plans to ease visa restrictions for Chinese professionals in the EV sector. This initiative aims to attract talent and expertise from China to support the growth of battery production in India. The easing of visa restrictions is expected to boost collaboration and knowledge-sharing between Indian and Chinese professionals in the electric vehicle industry.
India is in need of ‘thousands’ of Chinese engineers to aid in the manufacturing of low-cost and high-performance batteries.
