Nio to set up joint venture with battery producer Hive Energy to co-develop large cylindrical batteries – report 
COMPANY NEWS
Nio to set up joint venture with battery producer Hive Energy to co-develop large cylindrical batteries – report 
COMPANY NEWS

Nio to set up joint venture with battery producer Hive Energy to co-develop large cylindrical batteries – report 

 

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Chinese electric vehicle maker NIO is preparing to form a joint venture with power battery company Hive Energy to co-develop large cylinder cells, Chinese tech news outlet 36Kr reported, citing multiple sources from the industry chain. 

Under the initial plan, NIO and Hive Energy will make joint investment in a pilot production line in Ma’anshan city and some of the two companies’ R&D staffs will be merged, but their manufacturing and procurement will remain independent, according to the report.