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Re: Seeking Alpha for the NIO fans C6 I just read an article this AM that NIO is working on a new battery outlined below: NIO Stock Rises on a New EV Battery. This One Has No Cobalt. -- Barrons.comBY Dow Jones & Company, Inc. — 9:43 AM ET 09/23/2021 Investors are welcoming news of a new electric-vehicle battery from The new battery, officially rolled out Thursday, uses ternary lithium and lithium-iron phosphate, or LFP, rather than cobalt or nickel, making it less expensive than those cells. The trade-off is that it also has a little less range per charge. It's about choice. Not every EV buyer needs 400 miles of per-charge range. If an EV buyer wants more range, they can pay for a different battery. XPeng ( XPEV
) and Tesla (TSLA) have made similar product announcements in recent months. NIO stock was up 1.6% in premarket trading. Futures on the S&P 500 and Dow Jones Industrial Average had gained about 0.4%. NIO stock, overall, has had a rough year. Shares are down about 27% year to date, but it gained about 1,110% in 2020 as EV demand in Investors are pleased with the latest news because the new, cheaper batteries will help NIO, and other EV makers, push their battery-powered vehicles into more segments of the automotive industry. Another advantage of iron rather than cobalt is that a lot of cobalt is mined in the Nickel is another element that is used in EV lithium-ion rechargeable batteries, but nickel is more expensive than iron. Tesla CEO Cheaper batteries have helped enable the EV boom. Higher production volume and new battery designs have helped push down prices, but different battery chemistries also are a reason costs are falling. The new batteries coming from NIO are another sign the EV industry is maturing. Write to |
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