Exclusive-EV maker Nio plans new 40 GWh battery plant in China - sources

SHANGHAI :Nio plans to build its first battery plant to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on CATL for supplies.

It will be located next to its main manufacturing hub in Hefei city, in eastern China's Anhui province, they said. CATL, short for Contemporary Amperex Technology Co Ltd, is currently Nio's sole supplier of batteries for cars and battery swapping stations. Nio has a smaller battery-focused plant in Shanghai where it tests batteries.Prismatic batteries, which are rectangular in shape, have become the most common form of auto battery in the past two years as they can be more densely packed, saving on costs.

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