NIO Selects Sanhua Auto Parts as Supplier for New Electric Vehicles
Tang Shihua
/SOURCE : Yicai
NIO Selects Sanhua Auto Parts as Supplier for New Electric Vehicles

(Yicai Global) Jan. 9 -- Zhejiang Sanhua Auto Parts Co. is expanding its presence in the new-energy vehicle business and car developer Shanghai NIO Automobiles Co. has selected it as a supplier.

Zhejiang Sanhua Intelligent Controls Co. said its wholly-owned subsidiary received notice from NIO yesterday.

Sanhua Auto Parts will provide thermal management equipment for use in NIO's new electric vehicles that will make it to the market next year, and the Zhejiang-based firm will sell NIO an estimated CNY1.1 billion (USD170 million) in parts.

NIO is an emerging Chinese smart electric vehicle developer that JD.Com Inc. founder Richard Liu, Tencent Holdings Ltd. and other investors set up.

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Keywords: Auto Parts Supplier , Electric Vehicle , NIO , Sanhua