NIO, Svolt Energy Reportedly To Set Up JV To Develop Cylindrical Batteries With The Aim Of Reaching Mass Production By 2025.
Portfolio Pulse from Benzinga Newsdesk
NIO and Svolt Energy are reportedly planning to establish a joint venture to develop cylindrical batteries, with the goal of reaching mass production by 2025.
September 18, 2023 | 12:41 pm
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POSITIVE IMPACT
NIO's partnership with Svolt Energy to develop cylindrical batteries could enhance its product offerings and competitive edge in the EV market.
The joint venture with Svolt Energy could provide NIO with access to advanced battery technology, potentially enhancing its product offerings and competitive position in the electric vehicle market. This could positively impact NIO's stock in the short term as investors may view this as a strategic move to strengthen its market position.
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