Automotive Author:Hang Yang Editor:Luke Sheehan Jan 06, 2021 12:13 PM (GMT+8)

NIO's peers, including XPEV and Li Auto, all presented better-than-expected quarter deliveries.

NIO ES8

Image credit“Original pictures”

According to Sina, on January 6, market news revealed NIO Inc (NIO:NYSE) had already signed up to a lithium iron phosphate battery production line of CATL, and the lithium iron phosphate vehicle is being tested. CATL did not deny this and NIO refused to comment.

 As both NIO and CATL refrained from denying it, the news seems to be true.

A lithium iron phosphate battery as a major type of EV battery has been installed on the popular EV model-Model 3. This directly supported its runaway success in China in 2020 – the price is lower compared with other batteries, like ternary lithium batteries.

Owing to positive delivery figures, NIO stock prices jumped 9.2% over the last two trading days. The company delivered 7,007 vehicles – a new record high in December. For the whole year of 2020, the figure hit 43,728.