Nio will have a very small batch of its in-house designed large cylindrical battery cells come off the line by the end of the year, with production contracted to EVE Energy and Gotion High-Tech, Chinese battery industry outlet Jipian Lab reported on Monday.
The report marks the first concrete production timeline for a cell Nio unveiled nearly three years ago and has repeatedly failed to bring to market.
Nio introduced the 46105 cell, 46 millimeters in diameter and 105 millimeters tall, at NIO Day in December 2023, alongside the ET9 flagship sedan and a 900-volt-class architecture. It chose the taller format over Tesla’s 4680.
Mass production is unlikely in the short term, an unnamed person familiar with the matter told Jipian Lab. Nio has not commented on the report.
The cell lineup has also changed and is no longer limited to the 46105 format first shown in 2023, according to the report.
46105 Cell
When unveiling it, Nio claimed an energy density of 292 Wh/kg at cell level and 5C fast charging, adding 255 km of range in five minutes. The figures are still on Nio’s website and the cells were to power a 120 kWh pack.
When the ET9 launched in December 2024, it shipped with a 100 kWh pack instead The 120 kWh option resurfaced at the third-generation ES8’s launch in September 2025, and both the ES8 and the ES9 flagship SUV remain capped at a 102 kWh pack from CATL.
A promise kept alive
Founder and Chief Executive Officer William Li recommitted to the 120 kWh pack in August at a user event in Quanzhou. “There will be a 120-kWh battery, and of course all cars can use it,” he said, adding that it would fit Nio’s standard swappable pack dimensions.
He gave no launch timeline, and did not say which cell format the pack would use.
In July, Li said Nio had invested several billion yuan in developing long-life batteries, 21st Century Business Heraldreported.
The contract makers
Both partners bring something Nio lacks. EVE Energy supplies large cylindrical cells to BMW for its Neue Klasse electric vehicles, giving it among the most mass-production experience in the format in China.
Gotion High-Tech is based in Hefei, where Nio has its China headquarters and builds its cars.
The arrangement fits the “in-house design plus contract manufacturing” model that Chinese media say Nio adopted after it shelved plans to build its own cells. Nio began a battery research team in 2021 and announced a 40 GWh battery base in Hefei in 2023, but equipment purchases for that line were later put on hold, according to the same reports.
EVE Energy’s Shenzhen-listed shares rose 6.5% to 47.21 yuan on Monday, and Gotion gained 1.7% to 26.48 yuan. Nio’s Hong Kong shares fell 2.2% to HK$25.74.
Leaning on CATL
The report comes as Nio deepens its reliance on CATL. Nio has increased orders for CATL’s prismatic cells, which already power its Onvo and Firefly brands, according to Jipian Lab.
Firefly launched a 60 kWh battery on Friday, lifting its range to 560 km on China’s CLTC cycle. Chinese media said the new pack uses CATL ternary cells.
CATL is also building its own swap network. It signed a swap deal with BAIC last week aimed at a million-vehicle ecosystem.
The cells also matter beyond Nio’s own cars. In June 2025, Chinese outlet Yiou Auto reported that Nio would supply batteries to McLaren for its hybrid models, with small-scale production expected in 2026. It also said Nio would restart development of the 46105 cell and the 120 kWh pack with Forseven, the British start-up that later merged with McLaren.
Both McLaren and Nio are backed by Abu Dhabi’s CYVN Holdings. McLaren’s chief executive said in April that it had no plans for an EV, a year after gaining access to Nio’s technology.
A familiar pattern
Nio has a record of long gaps between battery announcements and delivery. Its 150 kWh semi-solid-state pack, announced in January 2021, reached mass production only in April 2024 and was dropped after several hundred units.
Large cylindrical cells also remain a niche in China, where prismatic formats dominate. Outside Tesla and BMW, few models use them.
Analysts are split on the stock. CLSA analyst Ding Luo cut his target on Nio’s Hong Kong shares to HK$29 from HK$55 on October 23, keeping an ‘Outperform’ rating, according to Price Target, EV‘s sister publication, which archives Wall Street research word for word.
Goldman Sachs analyst Tina Hou upgraded Nio to ‘Buy’ from ‘Neutral’ on October 9, with a $7 target.
