SHANGHAI: Chinese electric-car maker Nio said that in 2024 it will start making high-voltage battery packs that it has developed itself, as part of a drive to improve profitability and competitiveness to take on rivals such as Tesla.
Nio, plans to start producing an 800-volt battery pack in the second half of 2024, its chairman William Li told analysts on a call.
Most electric vehicles operate with 400-volt batteries while Porsche’s Taycan electric cars are powered by 800-volt lithium-ion battery packs, which recharge faster.
Li said Nio – which has over 400 employees working on the research and development of battery technologies – also plans to use a combination of self-produced and externally sourced batteries in the long run, a plan similar to Tesla’s.
