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Benzinga
Benzinga
Technology
Shanthi Rexaline

Nio To Invest $32M Toward Vertical Integration Of Battery Manufacturing: Report

Nio, Inc. (NYSE:NIO) is pursuing vertical integration amid the supply crunch and input price inflation.

What Happened: The Chinese electric vehicle startup is planning to set up lithium-ion battery labs and a pilot production line for batteries in Shanghai, the CnEVPost reported, citing an environment assessment report filed with the local municipal body.

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