NIO and FAW Group Sign Strategic Cooperation Framework Agreement

May 22, 2024, Jilin, China - NIO and FAW Group signed a strategic cooperation framework agreement at Jilin-Anhui Joint Development Forum. With Qiu Xiandong, Chairman of BOD, Secretary of the CPC FAW Group Committee, and William LI, Founder, Chairman and CEO of NIO, attending the ceremony, Sun Huibin, President of FAW Group's Strategy and Cooperation Department, and Fei SHEN, Senior Vice President of NIO, signed the agreement on behalf of the two companies.

Qiu Xiandong said that FAW Group will seize the opportunities from the cooperation between the two provinces, give full play to its role as a central state-owned enterprise in scientific and technological innovation, industrial control, and security and support, and work together with NIO and other excellent companies along the industrial chain to unleash more potential from the cooperation and extend its fruits to a broader scope, so as to promote the green and intelligence-based development of the automotive industries of the two places.

William Li said that the strategic cooperation between the two is expected to further push forward the standardization of battery swap technologies, the extension of the business model of battery swap, and a larger scale of battery swapping network, addressing the range anxiety for users and facilitating the high-speed development of China's smart EV industry.

Based on the agreement, giving full play to FAW Group's and NIO's respective strengths, the two will engage in comprehensive and in-depth strategic cooperation in areas including battery technology standards, R&D of vehicles with chargeability and swappability, battery asset management and operations, the development and operations of a recharging service ecosystem, as well as battery procurement and supporting mechanisms.

About NIO

NIO is a global smart electric vehicle company. Founded in 2014, NIO has been committed to shaping a joyful lifestyle by offering high-performance smart electric vehicles and ultimate experience. Nine years into establishment, NIO is one of the leading companies in the global premium smart electric vehicle market, and also the first car company listed on the NYSE, HKSE and SGX.

Aiming to foster its own research and development capabilities for core technologies, NIO has developed NIO Full Stack, a collection of 12 technology domains, including chips and smart hardware, battery system, electric drive and high-voltage system, vehicle engineering, vehicle operating system, vehicle connectivity, assisted and intelligent driving, smart cabin, smart power, smart manufacturing, artificial intelligence and global digital operations, which has made possible the industry-leading products, such as SkyRide Chassis System, NX6031 LiDAR control chip, and NX9031 5nm AD chip. As of March 31, 2024, NIO had filed and obtained more than 8,700 patents worldwide. Currently, NIO has R&D centers and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, San Jose, Munich, Oxford, Berlin, Budapest and Singapore. Its sales and service networks also have an expansive reach in over 300 cities in China, Norway, Germany, the Netherlands, Sweden and Denmark.

At present, NIO has eight smart electric models in its lineup, including the flagship SUV ES8, flagship coupe SUV EC7, mid-large SUV ES7, flagship sedan ET7, all-round SUV ES6, coupe SUV EC6, mid-size sedan ET5 and mid-size tourer ET5 Touring. In December 2023, NIO's executive flagship ET9 made its global debut, and the delivery is expected to start in 2025. As of April 30, 2024, NIO delivered a total of 495,267 vehicles, leading the premium battery electric vehicle segment priced above RMB 300,000.

In addition to the state-of-the-art smart electric vehicle technologies and experience, NIO has introduced various innovative service models, featuring NIO Power, NIO Service, Battery as a Service (BaaS), flexible battery upgrade plan and NIO Certified which is NIO's pre-owned vehicle program, to offer an ultimate service experience throughout the product lifecycle. NIO is the car brand that owns and operates the most charging piles and Power Swap Stations in China. By the end of April, NIO had installed 2,454 Power Swap Stations and 22,138 chargers, and connected with over 1.5 million non-NIO chargers worldwide. Its battery swap network runs through 13 trunk expressways and 11 city clusters in China. Moreover, NIO has partnered with Changan Automobile, Geely Holding, JAC Group and Chery Automobile in battery swap to jointly promote the development of the battery swap network and industry standards.

Adopting the direct-sales model, NIO offers a series of comprehensive services seamlessly via the NIO app. Combining online and offline touch points, such as NIO House and NIO Space, as well as NIO users' exclusive radio program NIO Radio and the lifestyle brand NIO Life, NIO has created a community that starts from and goes beyond the car, where users to share joy and grow together.

Media Contact:

Emma Hai