Chinese EV Maker NIO Partners With Melexis For Advanced Sensor Technology
China EV maker NIO Inc (NYSE:NIO) has chosen Melexis’ cutting-edge current sensor chips for their traction inverter systems.
These advanced chips, tailored for the challenging environment of electric motor control, will be integrated into all of NIO’s battery electric vehicles (BEVs).
Melexis, based in Belgium, is a supplier of semiconductor solutions primarily focused on designing and delivering sensors for automotive and industrial applications.
This collaboration enables NIO to leverage Melexis’ advanced current sensor technology, enhancing the efficiency and reliability of its traction inverter systems.
Melexis will also provide local support with dedicated engineers to ensure seamless integration and optimization.
The traction inverter system is crucial in NIO EVs, converting the battery’s direct current (DC) into the alternating current (AC) that powers the electric motor.
The current sensor is a key component, accurately monitoring the current to ensure the vehicle’s safety and optimal performance.
Also Read: Nio reportedly gets approval for a new factory in China
Bi Lu, VP of Nio, said, “We are very pleased to have entered into this collaboration with Melexis. Melexis is a leader in current sensor technology, and we believe their technology will bring superior performance and reliability to our intelligent electric vehicles.”
“This collaboration will further strengthen our position in the EV market and bring a better driving experience to our customers.”
Nio reported fiscal first-quarter 2024 revenue of 9.91 billion yuan ($1.37 billion), down 7.2% year over year and 42.1% from the previous quarter.
Vehicle deliveries were 30,053 in the quarter, down by 3.2% Y/Y and down by 39.9% Q/Q.
Price Action: NIO shares are trading lower by 7.12% at $4.89 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Chinese EV Maker NIO Partners With Melexis For Advanced Sensor Technology originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
