A staff member of Chinese electric vehicle maker Nio drives a Nio car as he demonstrates to media about the operation of the new battery swapping station, at a delivery center of the company, in Nanxiang, Shanghai, China March 23, 2023. REUTERS/Aly Song/File Photohas struck a deal with larger rival BYD to source batteries for an EV brand priced at a lower range that aims to compete with Tesla
When contacted by Reuters, Nio said the information was "inaccurate" and did not elaborate. CALB declined to comment while CATL and BYD did not respond to requests for comment. Chinese EV buyers have been more willing than car buyers in other markets to opt for lower-range batteries in exchange for lower cost, in part because of the availability of battery swapping stations of the kind run by Nio and charging locations.