Zhejiang Sanhua Is Named Qualified Supplier for EV Start-Up NIO for Second Time
Dou Shicong
/SOURCE : Yicai
Zhejiang Sanhua Is Named Qualified Supplier for EV Start-Up NIO for Second Time

(Yicai Global) Jan. 9 -- China's air conditioner manufacturer Zhejiang Sanhua Intelligent Controls Co. will supply thermal management components for the Shanghai-based startup NIO Automobile Co.'s second-generation volume-production vehicles. The deal will consolidate Sanhua's competitive advantage in the market, it said.

NIO's second- generation volume-production vehicles are expected to be unveiled in 2019, the air conditioner maker said in a statement yesterday. The total sales for the life of the product are expected to reach CNY1.1 billion (USD169 million).

The company [SHE:002050] has nearly 10 years of research and development experience in the field of new energy vehicle air conditioning and thermal management components, the Zhejiang-based firm said. Recognition by NIO once again reflects the company's competitive advantage in this area, it added. Previously, Sanhua was also the supplier of NIO ES8, the start-up's first volume-production cars.

NIO ES8 was officially introduced to the market last December, priced at between CNY450,000 and CNY550,000. The second-generation volume-production cars are expected to be unveiled by June next year, an official from the company said earlier.

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Keywords: Zhejiang Sanhua Intelligent Controls , NIO , ES8 , Supplier