Chinese EV company Nio has successfully tested its 1,000km EV battery, with its CEO William Li livestreaming a 14-hour road trip using the battery. The road trip was between two Chinese cities and achieved a range of 1,044km with 3% of the battery remaining.

Nio is a strong rival to EV giant Tesla and the newly developed battery is a groundbreaking development. The 1,044km journey between Shanghai and Xiamen was undertaken by Nio CEO Li on December 17. Nio is already being referred to in some quarters as China’s Elon Musk (Musk is Tesla’s CEO). The battery was fitted in a Nio ET7 EV for the road trip which lasted 14 hours. The car was not recharged all through the trip even with a cold snap in the region and the fact that the car operated up to 3% of its battery level.

The battery itself is called the Nio 150kWh battery and CEO Li says it has the highest energy density of any mass-produced EV battery currently available. This is at the heart of its remarkable 1,000km range. No plans to begin the mass production of the 150kWh battery in April 2024.

Pricing

The battery will not come cheap – a unit will cost about 298,000 yuan ($42,000) which is worth the price of a Tesla Model Y in China. However, Nio allows its customers to buy its cars without a battery and subscribe to its battery swap service. Nio has more than 2,000 battery swap stations spread across China. Nio has not made any market breakthrough through its current business model and reported an average of $12,000 in losses for every EV it manufactures.

It is expected that the groundbreaking Nio 150kWh battery could stimulate demand for Nio cars and result in greater financial performance by the Chinese EV giant.

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