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.