MAYASIA BUSINESS OUTLOOK8Nio, a Chinese electric vehicle manufacturer, has collaborated with its larger competitor, BYD, to procure batteries for a new electric vehicle brand, according to three sources familiar with the situation. This partnership represents a strategic shift for BYD, aiming to expand its revenue sources beyond its existing electric vehicle brand. Additionally, it underscores the fierce competition in China's electric vehicle market, particularly regarding pricing, where batteries represent the most significant cost component in a vehicle.In December, Nio shifted its strategy away from initially intending to manufacture batteries internally, opting instead to prioritize cost reduction. The company has officially announced the name of its new brand as "Onvo" in English and "Ledao" in Chinese, coinciding with the launch of a dedicated website for the vehicle. The upcoming Onvo L60 is anticipated to compete directly with Tesla's Model Y. Currently, Nio primarily procures its batteries from CATL, a leading player in the industry.Sources suggest that BYD will team up with CATL to provide a smaller battery pack for a specific version of the new Onvo EV, while another Chinese battery manufacturer, CALB, will supply a larger 85-kilowatt-hour pack. When Reuters reached out for clarification, Nio contested the information, labeling it as "inaccurate." CALB chose not to comment, and requests for comment from CATL and BYD went unanswered. NEWSROOMNIO COLLABORATES WITH BYD TO MANUFACTURE BATTERIES FOR ITS EVSTVS Motor Company Ltd announced on Wednesday that it has commenced operations in Italy, with plans to introduce a range of both conventional and electric scooters and motorcycles. The company is expanding its presence in Italy through its branch office, TVS Motor Italia, led by Giovanni Notarbartolo di Furnari, as stated in a regulatory filing by TVS Motor Co.Furnari brings extensive experience from senior managerial roles in major automotive companies in Italy, Latin America, the UAE, and Europe, the filing added."Our move into Italy is a strategic step towards our global ambitions," said Sharad Mohan Mishra, President and Head of Group Strategy at TVS Motor Co.The company will introduce its TVS Apache 310 Series bike, available in RR and RTR versions, which has been developed in collaboration with BMW. Other products lined up for the Italian market include TVS Ronin 250 - a 'modern-retro' lifestyle motorcycle; commuter bike TVS Raider; mid-range scooter TVS NTorq; and scooter TVS Jupiter 125, along with electric scooters TVS iQube and TVS X, the company stated.It will also offer e-bikes, including Cilo, EGO Movement, Simpel, and EBCO ranges. Furnari, designated as Director of TVS Motor Italia, commented, "In establishing a branch office and by offering a broad suite of products, both thermic and electric, TVS Motor has underlined its confidence and long-term strategy for the Italian market." INDIA'S TWO WHEELER MANUFACTURER TVS TO INTRODUCE EVS IN ITALY
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