NIO’s latest filing hints at EVs powered by solid-state batteries coming as early as this summer
According to a recent filing with China’s Ministry of Industry and Information Technology, NIO intends to sell three existing EV models with expanded battery capabilities provided by solid-state battery developer WeLion. The filing matches with previous statements from NIO’s founder that consumers could see solid-state powered EVs this summer.
Although many promised EV technologies have been delivered and continue to evolve, solid-state batteries remain an aspiration by many. Although they are closer than ever, no one has yet to reach scaled production of solid-state cells… at least not to the magnitude or, more importantly, at cost parity with traditional lithium-ion batteries used by most automakers.
We at Electrek have covered the progress of several solid-state battery developers that are closer than ever to delivering commercial-grade EV-specific cells. This includes Quantumscape in the US and WeLion in China. Overseas last November, the latter company rolled its first solid-state cells off its assembly line before first deliveries to EV manufacturer NIO.
NIO’s relationship with WeLion dates back years, even before the automaker unveiled its ET7 sedan in early 2021 during a presentation that also included plans for a 150-kWh solid-state pack. We’ve seen deliveries of the NIO ET7 commence in both China and Europe, but no models with the energy-dense packs just yet.
We haven’t forgotten, and neither has NIO, as its latest filing with the Chinese government says those new battery packs may be closer to reaching the market than ever. Here’s the latest.
NIO filing hints at solid-state battery upgrades from WeLion
On May 9, China’s Ministry of Industry and Information Technology released its latest list of vehicle models slotted to be sold in the country, which also included hundreds of additional filings for specification changes on existing vehicles for public feedback – a key regulatory process in China.
As CnEVPost points out, NIO filed for an expansion of the specification information pertaining to three existing models – more specifically, the battery information section. The new filing does not mention solid-state batteries specifically but states that NIO models are receiving battery upgrades using cells from Huzhou WeLion Technology Co Ltd. – a wholly-owned subsidiary of NIO’s current semi-solid-state battery supplier, Beijing WeLion New Energy Technology.
The filing states that two NIO SUVs and one sedan will receive the battery upgrades. Recognizable vehicle names were not used. Instead, the model numbers were coded as HFC6502ECSEV9-W, HFC6502ECSEV5-W, and HFC7002CSEV1-W.
The aforementioned ET7 may not necessarily be the NIO EV to see the new energy-dense pack, but the sedan remains attached to the technology as the automaker announced plans for a 150-kWh solid-state pack during the same presentation in early 2021.
NIO hasn’t mentioned much progress since then, at least not until this past February, when the company’s founder and president, Qin Lihong, publicly stated that NIO owners will be able to start experiencing the 150-kWh pack this summer. One huge asterisk is that the 150-kWh pack could cost as much as an entire ET5 sedan, meaning cost parity with current battery chemistry remains lightyears away.
Now that the official filings have been made, it appears that at least three NIO models powered by solid-state cells are imminent and could, in fact, reach the market this summer. We won’t know for sure until we hear it directly from NIO, but this is an exciting prospect nonetheless.
Electrek’s take
Solid-state technology remains the carrot perpetually dangled in front of the EV industry and enthusiasts alike, even as it progresses. I would not be surprised at all if China is the first market to truly deliver commercially scaled solid-state cells in passenger EVs, but I’m curious about what sort of performance they will deliver in the beginning.
A 150-kWh battery pack is quite large, but with more energy-dense cells, I’d imagine NIO can deliver a similar weight (or likely less) for even more efficient power. That means lighter, less volatile EVs that will likely be able to travel further and charge faster. Or perhaps that’s optimistic reverie.
We really won’t know the scope of this battery transition and how significant it is (or isn’t) until NIO shows its cards, but it feels like it could happen in the next few months. We do know that it won’t be cheap, so I’d expect only a limited number of passenger vehicles to actually hit the roads in China.
I’m certainly getting ahead of myself, but it’s an interesting thought that if NIO does, in fact, deliver solid-state EVs in China, we could see them shipped to Europe thereafter, meaning both Chinese and EU markets could see solid-state-powered EVs driving around before the US.
Let’s wait and see what sort of heat WeLion and NIO are actually packing. I’ll keep an eye on this.
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EV charging veteran ChargePoint has unveiled its new charger product architecture, which is described as a “generational leap in AC Level 2 charging.” The new ChargePoint technology designed for consumers in North America and Europe will enable vehicle-to-everything (V2X) capabilities and the ability to charge your EV in as quickly as four hours.
ChargePoint is not only a seasoned contributor to EV infrastructure but has established itself as an innovative leader in the growing segment. In recent years, it has expanded and implemented new technologies to help simplify the overall process for its customers. In 2024, the network reached one million global charging ports and has added exciting features to support those stations.
Last summer, the network introduced a new “Omni Port,” combining multiple charging plugs into one port. It ensures EV drivers of nearly any make and model can charge at any ChargePoint space. The company also began implementing AI to bolster dependability within its charging network by identifying issues more quickly, improving uptime, and thus delivering better charging network reliability.
As we’ve pointed out, ChargePoint continues to utilize its resources to develop and implement innovative solutions to genuine problems many EV drivers face regularly, such as vandalism and theft. We’ve also seen ChargePoint implement new charger technology to make the process more affordable for fleets.
Today, ChargePoint has introduced a new charger architecture that promises to bring advanced features and higher charging rates to all its customers across residential, commercial, and fleet applications.
ChargePoint unveils maximum speed V2X charger tech
This morning, ChargePoint unveiled its next generation of EV charger architecture, complete with bidirectional capabilities and speeds up to double those of most current AC Level 2 chargers.
As mentioned above, this new architecture will serve as the backbone of new ChargePoint chargers across all segments, including residential, commercial, and fleet customers. Hossein Kazemi, chief technical officer of hardware at ChargePoint, elaborated:
ChargePoint’s next generation of EV chargers will be revolutionary, not evolutionary. The architecture underpinning them enables highly anticipated technologies which will deliver a significantly better experience for station owners and the EV drivers who charge with them.
The new ChargePoint chargers will feature V2X capabilities, enabling residential and commercial customers to use EVs to power homes and buildings with the opportunity to send excess energy back to the local grid. Dynamic load balancing can automatically boost charging speeds when power is not required at other parts of the connected building structure, enabling efficiency and faster recharge rates.
ChargePoint shared that its new charger architecture can achieve the fastest possible speed for AC current (80 amps/19.2 kW), charging the average EV from 0 to 100% in just four hours. That’s nearly double the current AC Level 2 standard (no pun intended).
Other features include smart home capabilities where residential or commercial owners can implement the charger within a more extensive energy storage system, including solar panels, power banks, and smart energy management systems. The new architecture also enables series-wiring capabilities, meaning fleet depots, multi-unit dwellings, or even residential homes with multiple EVs can maximize charging rates without upgrading their wiring configuration or energy service plan.
These new chargers will also feature ChargePoint’s Omni Port technology, enabling a wider range of compatibility across all EV makes and models. According to ChargePoint, this new architecture complies with MID and Eichrecht regulations in Europe and ENERGY STAR in the US.
The first charger models on the platform are expected to hit Europe this summer followed by North
America by the end of 2025.
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Environment
Tanking oil prices could more than double Saudi Arabia’s deficit to $75 billion and threaten spending plans: Goldman Sachs economist
Riyadh, Saudi Arabia.
Johnnygreig | E+ | Getty Images
Crashing oil prices triggered by waning demand, global trade war fears and growing crude supply could more than double Saudi Arabia’s budget deficit, a Goldman Sachs economist warned.
The bank’s outlook spotlighted the pressure on the kingdom to make changes to its mammoth spending plans and fiscal measures.
“The deficits on the fiscal side that we’re likely to see in the GCC [Gulf Cooperation Council] countries, especially big countries like Saudi Arabia, are going to be pretty significant,” Farouk Soussa, Middle East and North Africa economist at Goldman Sachs, told CNBC’s Access Middle East on Wednesday.
Spending by the kingdom has ballooned due to Vision 2030, a sweeping campaign to transform the Saudi economy and diversify its revenue streams away from hydrocarbons. A centerpiece of the project is Neom, an as-yet sparsely populated mega-region in the desert roughly the size of Massachusetts.
Plans for Neom include hyper-futuristic developments that altogether have been estimated to cost as much as $1.5 trillion. The kingdom is also hosting the 2034 World Cup and the 2030 World Expo, both infamously costly endeavors.
Digital render of NEOM’s The Line project in Saudi Arabia
The Line, NEOM
Saudi Arabia needs oil at more than $90 a barrel to balance its budget, the International Monetary Fund estimates. Goldman Sachs this week lowered its year-end 2025 oil price forecast to $62 a barrel for Brent crude, down from a previous forecast of $69 — a figure that the bank’s economists say could more than double Saudi Arabia’s 2024 budget deficit of $30.8 billion.
“In Saudi Arabia, we estimate that we’re probably going to see the deficit go up from around $30 to $35 billion to around $70 to $75 billion, if oil prices stayed around $62 this year,” Soussa said.
“That means more borrowing, probably means more cutbacks on expenditure, it probably means more selling of assets, all of the above, and this is going to have an impact both on domestic financial conditions and potentially even international.”
Financing that level of deficit in international markets “is going to be challenging” given the shakiness of international markets right now, he added, and likely means Riyadh will need to look at other options to bridge their funding gap.
The kingdom still has significant headroom to borrow; their debt-to-GDP ratio as of December 2024 is just under 30%. In comparison, the U.S. and France’s debt-to-GDP ratios of 124% and 110.6%, respectively. But $75 billion in debt issuance would be difficult for the market to absorb, Soussa noted.
“That debt to GDP ratio, while comforting, doesn’t mean that the Saudis can issue as much debt as they like … they do have to look at other remedies,” he said, adding that those remedies include cutting back on capital expenditure, raising taxes, or selling more of their domestic assets — like state-owned companies Saudi Aramco and Sabic. Several Neom projects may end up on the chopping block, regional economists predict.
Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch. That combined with high foreign currency reserves — $410.2 billion as of January, according to CEIC data — puts the kingdom in a comfortable place to manage a deficit.
The kingdom has also rolled out a series of reforms to boost and de-risk foreign investment and diversify revenue streams, which S&P Global said in September “will continue to improve Saudi Arabia’s economic resilience and wealth.”
“So the Saudis have lots of options, the mix of all of these is very difficult to pre-judge, but certainly we’re not looking at some sort of crisis,” Soussa said. “It’s just a question of which options they go for in order to deal with the challenges that they’re facing.”
Global benchmark Brent crude was trading at $63.58 per barrel on Thursday at 9:30 a.m. in London, down roughly 14% year-to-date.
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