NIO May Bring ET7's Electric Drive System To All Models: Report

Chinese electric vehicle maker Nio Inc NIO may introduce its electric sedan ET7’s electric drive system to all models, cnEVpost reported on Tuesday, citing a Chinese news publication. 

What Happened: The Shanghai-headquartered Nio may bring the second-generation electric motor to other models such as the ES8, ES6 and EC6, as per reports coming from China.

The electric drive system has a combined system power of 480kW — 180kW at the front and 300kW at the rear — and a peak torque of 850 Nm.

See Also: Nio Prices ES8 SUV Lower In Norway Than Home Country China, Unveils Nio House In Oslo

Why It Matters: Nio, founded in 2014, launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system.

This system utilizes silicon carbide (SiC), which is considered more efficient, lightweight and compact than silicon. Rival Tesla Inc TSLA was the first to use SiC of all peers, putting chips made of the world's third-hardest substance in inverters of some Model 3 vehicles, Nikkei Asia reported last month.

Nio is among a growing breed of homegrown Chinese electric vehicle startups beside Xpeng Inc XPEV and Li Auto Inc LI, which have quickly established themselves locally with their all-electric lineup and are now eyeing international expansion.

In May, the electric vehicle maker revealed plans to expand to markets outside of China, starting with Norway.

Price Action: Nio shares closed 1.06% higher at $40.03 a share on Tuesday.

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Photo: Courtesy of Nio