Shanghai (ZXZC)- NIO has formed cooperation with CALB Co., Ltd. on power battery supply for its yet-to-be-launched sub-brand “ALPS”, a local media outlet reported today, citing people with knowledge of this matter.

The person familiar with the matter disclosed that NIO's ALPS brand would adopt CALB's One-Stop Bettery ternary battery solution, and relevant product has gone into an initial development phase.

Photo credit: NIO

With an open-up attitude towards battery supply cooperation, NIO is also talking with EVE Energy and SVOLT, in addition to CALB and FinDreams Battery, the person also revealed.

As of press time, NIO has not commented on the rumored information yet.

CALB replied to the media channel that the company is in a critical period of public listing, and it is not available to comment on this matter.

Prior to the latest rumor, a local report said that NIO would procure batteries from BYD’s FinDreams Battery for ALPS-branded vehicles.

At the earnings call held after NIO released its first-quarter 2022 financial results, William Bin Li, chairman and CEO of NIO, disclosed that the automaker intended to deliver products under a mass-market brand, namely ALPS, starting from the second half of 2024.

NIO expects the mainstream products under the ALPS brand to be priced from 200,000 yuan ($29,190) to 300,000 yuan ($43,780). They will also support the battery swapping technology.