The Nio Onvo L60 will use lithium iron phosphate batteries supplied by BYD, with single and dual motor options, and will be built at Nio's F2 plant.
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In the January-May period, BYD was No. 1 in China's NEV market with a 34.0 percent share, while Tesla was No. 3 with 6.7 percent.
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A Denza N7 SUV navigates a complex urban road with the assisted driving feature turned on and zero takeover, marking the real-life debut of BYD's assisted driving technology that doesn't rely on high-definition maps.
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Nio unveiled NOP in September 2020 and launched the more powerful NOP+ in December 2022.
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CATL plans to launch a second-generation Qilin Battery with a 6C charging multiplier in the second half of 2024, and BYD's second-generation Blade Battery could also be launched in the second half of the year, with a 6C battery in the works.
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“In Europe, Nio's commitment to the EV market remains unwavering, and we will continue to serve our users and explore new opportunities within Europe despite protectionism,” Nio said.
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BYD will be subject to an additional tariff of 17.4 percent, Geely 20 percent and SAIC 38.1 percent. Other BEV producers that cooperated in the EU investigation but were not sampled will pay a weighted average duty of 21 percent.
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Nio's global business veteran Chen Chen heads a new tier-1 division and will personally oversee the Middle East business.
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The fourth-generation battery swap stations that will go live tomorrow will include the first stations built by Nio in partnership with Zhongan Energy.
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The European Commission is about to notify carmakers that it will temporarily impose additional tariffs of up to 25 percent on imported Chinese EVs from next month, according to the Financial Times.
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