Nio Capital-backed EV-Tech and Nio will jointly develop products based on Nio’s STEM Young high-voltage architecture, with deliveries to the Nio brand and Nio’s second brand expected to begin in 2025.
(Image credit: Zhejiang EV-Tech)
Nio (NYSE: NIO) has entered into a strategic cooperation agreement with a local component supplier backed by Nio Capital to co-develop and manufacture components for high-voltage system applications.
Zhejiang EV-Tech Co Ltd, headquartered in Hangzhou, Zhejiang province, announced today that it signed a strategic cooperation agreement with Nio on March 1 in Shanghai for a high-voltage system project. Shanghai is the location of Nio’s global headquarters.
EV-Tech and Nio will jointly develop and produce products based on the electric vehicle (EV) maker’s STEM Young high-voltage architecture platform, according to a statement from the parts supplier.
The two companies will work together to create IPUs (intelligent power units), which will enable core components to be shared across different vehicle models, improving product development efficiency and reducing costs, according to the statement.
The Young IPU product can be adapted to the needs of multi-brand and multi-platform models, and is expected to be delivered to the Nio brand and Nio’s second brand starting in 2025, EV-Tech said.
Going forward, the two companies will work together on exploratory research and joint development of emerging technologies in the area of high-voltage systems, according to the statement.
An image in EV-Tech’s statement shows STEM Young seeing the A sample coming off the line.
Notably, EV-Tech has previously been a supplier to Nio.
As a core component supplier that has worked with Nio for a long time, EV-Tech has received the Quality Excellence Partner Award from Nio for three consecutive years, according to the component supplier.
EV-Tech’s statement didn’t provide more information on Nio’s models, though its reference to Nio-branded vehicle appears to refer to the ET9 executive flagship sedan.
Nio unveiled the ET9 at its Nio Day 2023 event on December 23, 2023, and began pre-sales at a price of RMB 800,000 ($111,160), with deliveries set to begin in the first quarter of 2025.
The ET9 will be built on a 925 V ultra-high-voltage platform, Nio’s first model to be built on a platform with more than 800 V.
Current high-voltage systems for mainstream EVs typically range from 230 – 450 V, which is commonly referred to as a 400 V system. The industry is moving away from the 400 V platform to 800 V. Systems with a voltage range of 550 – 900 V are referred to as 800 V high voltage systems.
Higher voltages help to increase charging speeds and reduce vehicle energy consumption, but place higher demands on the insulation of components.
Founded in August 2011, EV-Tech specializes in the development and manufacturing of high-voltage component products and is a major supplier of on-board chargers and on-board DC/DC converters in China.
EV-Tech currently employs more than 1,600 people and has a research and development center in Hangzhou and a manufacturing facility in Huzhou, Zhejiang, according to its website.
Nio Capital invested in EV-Tech in 2017, and the latter’s products are used in Nio’s ES and ET product lines, as well as products including GAC Aion, and Great Wall Motor’s Ora brand.
($1 = RMB 7.1968)
Nio Capital-backed EV parts maker gets investment from Xiaomi
