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 suppliers like CATL.
The new plant will have an annual capacity to produce 40 gigawatt hours (GWh) of batteries, which can power about 400,000 units of long-range electric vehicles (EVs), the people said on condition of anonymity as the matter is private.
