Summary
- Nio is partnering with UK startup Monolith to test and improve electric car battery packs in Europe
- Monolith is working through regulatory requirements to also work with Chinese automakers
- Monolith already works with top global automakers to test electric vehicle batteries using machine learning algorithms
- European automakers take around five years to develop a new car, while Chinese EV makers only need two years
- Nio’s battery swapping service in Europe allows for quick testing of new batteries using Monolith’s AI algorithm
Article
Nio, a Chinese EV maker, has partnered with UK artificial intelligence software startup Monolith to test and improve electric car battery packs in real-time using Nio’s battery swapping service in Europe. The testing is set to begin in five European markets, with plans to expand to China. Monolith already works with top automakers like Mercedes-Benz, BMW, and Honda to speed up the development of electric vehicle batteries using machine learning algorithms.
Western automakers are trying to catch up with Chinese rivals who are developing and bringing electric vehicles to market at a faster pace. European automakers typically take around five years to develop a new car, while Chinese EV makers only require about two years. Chinese automakers are even exploring the possibility of developing new cars in just one year, highlighting the need for faster innovation and development in the industry.
Nio’s battery swapping service allows customers to swap out EV batteries in minutes instead of charging them, with 98% of customers in Nio’s key European markets using this service. This provides an opportunity for the automaker to test new batteries and monitor their health, performance, and durability each time they are swapped out. Monolith’s AI algorithms are used to analyze the data collected during battery swaps, allowing Nio to continually learn and improve its battery technology.
Monolith has raised around $22 million from investors, including private equity firm Insight Partners and venture capital firm Pentech. The partnership with Nio will further enhance Monolith’s capabilities in testing and improving electric vehicle batteries using AI technology. This collaboration will enable both companies to stay at the forefront of battery development in the rapidly evolving electric vehicle industry.
With the regulatory requirements being worked through, Monolith plans to expand its testing and improvement services to other Chinese automakers in the future. By leveraging machine learning algorithms, Monolith aims to help automakers accelerate the development of electric vehicle batteries and remain competitive in the market. This partnership between Nio and Monolith highlights the importance of leveraging advanced technologies to drive innovation and advancement in the automotive industry.
Overall, the collaboration between Nio and Monolith represents a strategic effort to enhance battery technology in electric vehicles through real-time testing and AI analysis. By utilizing Monolith’s expertise in machine learning algorithms, Nio aims to further improve the performance and durability of its battery packs. This partnership underscores the growing importance of innovation and technological advancements in the automotive industry, particularly in the fast-growing electric vehicle sector.
Read the full article here
