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.
He did not elaborate on the details at the time., the most expensive single-piece component, to improve its profitability.
But proponents of cylindrical batteries, led by U.S. EV maker Tesla, argue the newer larger format cylindrical cells are more cost-effective due to improvements in energy density.
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