Li said batteries with lifetimes of up to 15 years are technically feasible, but it will take a concerted effort by the entire industry to advance the goal.
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The new 75-kWh battery pack will not use both LFP cells and ternary cells like its predecessor and will begin deliveries soon with the 2024 models.
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Nio confirmed the Onvo name and said the brand's official launch is expected in early-mid May.
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Nio has dramatically restructured its BaaS battery rental option in an attempt to make its cars more attractive in the face of fierce price competition, though emphasizing that it's not a response to the ongoing price war.
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CATL will also plan and develop battery systems of longer service lives for Nio's upcoming models.
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Two camouflage-free spy shots of a model purportedly under Nio's second brand are circulating on social media today, with the rear end showing the vehicle's English brand name as Onvo.
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The ET5 and ES7 had the longest wait times at 7-8 weeks and 8-9 weeks, respectively, while the ET5 Touring, ES6, EC6, EC7, and ES8 all had 2-3 weeks.
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Speculation circulating on Chinese social media recently suggested that Nio may tweak its BaaS (battery as a service) battery rental service.
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Nio has recently started giving away free Nio Phones to customers buying 2024 models, but the entitlement is currently available only for March, according to local media.
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BYD's EV insurance registrations in China last week were 49,100, Aito was 8,500 and Zeekr was 1,900.
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