Benzinga | Oct 19, 2021 10:44PM EDT

NIO May Bring ET7's Electric Drive System To All Models: Report

Chinese electric vehicle maker Nio Inc (NYSE:NIO) may introduce its electric sedan ET7's electric drive system to all models, cnEVpost reported on Tuesday, citing a Chinese news publication.

What Happened: The Shanghai-headquartered Nio may bring the second-generation electric motor to other models such as the ES8, ES6 and EC6, as per reports coming from China.

The electric drive system has a combined system power of 480kW -- 180kW at the front and 300kW at the rear -- and a peak torque of 850 Nm.

See Also: Nio Prices ES8 SUV Lower In Norway Than Home Country China, Unveils Nio House In Oslo

Why It Matters: Nio, founded in 2014, launched the flagship sedan ET7 in January at the company's annual day, complete with its second-generation electric drive system.

This system utilizes silicon carbide (SiC), which is considered more efficient, lightweight and compact than silicon. Rival Tesla Inc (NASDAQ:TSLA) was the first to use SiC of all peers, putting chips made of the world's third-hardest substance in inverters of some Model 3 vehicles, Nikkei Asia reported last month.

Nio is among a growing breed of homegrown Chinese electric vehicle startups beside Xpeng Inc (NYSE:XPEV) and Li Auto Inc (NASDAQ:LI), which have quickly established themselves locally with their all-electric lineup and are now eyeing international expansion.

In May, the electric vehicle maker revealed plans to expand to markets outside of China, starting with Norway.

Price Action: Nio shares closed 1.06% higher at $40.03 a share on Tuesday.

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Photo: Courtesy of Nio