Sources: China’s Nio Collaborates with Rival BYD for New EV Brand

BYD’s battery unit, FinDreams Battery, already supplies batteries to Tesla’s Berlin plant and state-owned Chinese automakers such as FAW. However, most of BYD’s batteries are used in its own EVs. Gaogong Industrial Institute reports that only 5% of BYD’s batteries in 2023 were sold to external clients.