China's Nio, CATL ink deal to jointly develop batteries with longer life

China's Nio, CATL ink deal to jointly develop batteries with longer life

FILE PHOTO: A woman sits near the sports car NIO EP9 at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo

Chinese electric vehicle maker Nio on Thursday signed an agreement with battery giant CATL on a partnership to develop batteries with a longer life as part of efforts to lower overall EV costs.