FinDreams Battery, the power battery division of BYD will be the supplier of batteries to companies in the Chinese new energy vehicle market. The company will apparently supply the likes of both NIO and even Xiaomi Auto.
The news arrives from several sources (Via 36Kr) in China. Although, all three of the companies have yet to comment on the matter as of right now. One source added that “the designated cooperation between NIO and FinDreams Battery had been finalized before the Spring Festival, using BYD’s ferrous lithium phosphate battery.” Furthermore, it was also revealed that in the second half of last year, various NIO employees had visited BYD company location in Shenzhen often.
On the other hand, Xiaomi Auto is a relatively new automobile manufacturing brand. It has also signed a partnership deal with FinDreams Battery. As per the report, its first EV will have two sets of configurations. The low end model arrives with a voltage platform of 400V BYD blade batteries while the high end model will come with a voltage platform of 800V. The top end model might also use products from a leading Chinese battery maker, CATL. Although, the details for this deal is currently unknown.
Previously, CATL was also the exclusive supplier of power batteries for NIO. However, the company’s head, Li Bin had publicly stated that the battery had become a limiting factor for its production capacity. Notably, BYD is also a known automobile brand in China, but it even produces its own power batteries as well. Thus, it has been pushing in promoting new energy vehicles in the local market.
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