New Energy News Roundup

SHANGHAI, Apr 20 (SMM) – A weekly update on the trending stories from the New Energy sector. 

NIO and Sinopec signed a strategic cooperation agreement on April 15, and will work together to build charging and swapping infrastructure, as well as carry out extensive cooperation in terms of new materials, smart electric vehicles, battery rental services, vehicle procurement and construction of leisure consumption scenarios. Both parties will give full play to their respective advantages, and to create an innovative working model in the global energy and automotive industry.

NIO is the most important car company in China that implements battery swap mode. Currently, NIO’s second-generation swap station can accommodate up to 13 batteries, with a single swap time of 4.5 minutes, and the highest single-day service capacity can reach 312 times. There is no need for drivers to get off their cars during the battery swap process, which greatly improves the user experience.

The efficiency is more than three times higher than that of the first-generation battery swap station. The cooperation between NIO and Sinopec can effectively utilise Sinopec’s nationwide sites, effectively integrate the resources of both parties, reduce construction costs, quickly advance the layout of battery swap models, and reduce the waiting time for power charging and swapping. 

Ford China's first pure electric vehicle Mustang Mach-E was available for booking in the Chinese market on April 14. The selling price will be 265,000-379,000 yuan after being subsidies, and it will compete with Tesla Model Y.  It was reported earlier that BYD would supply batteries to Ford. "The Mustang Mach-E does use BYD's ternary lithium battery, and the new car will be produced at the Changan Ford plant."

In order to expand its battery manufacturing and sales business, BYD has turned is second business unit into an independent entity called FordyBattery Company, which will be listed independently and start a full-scale external supply of batteries. This move indicates that BYD hopes to catch up with major domestic and foreign motive power battery manufacturers such as CATL and LG Chem and further expand its market share. Sales of Ford Mustang Mach-E, Ford’s star product, soared 1304.2% month on month in the US market in February, which poses a strong challenge to Tesla's Model Y. The collaboration between Fordy Battery and Ford can greatly promote the strategic layout and transformation of both parties.

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