CATL and NIO have signed a five-year comprehensive strategic cooperation agreement in the city of Ningde, Southeast China’s Fujian Province.
Wei Zhu, Executive President of Passenger Vehicle Business Unit of CATL, and Alan Zeng, Senior Vice President of NIO, signed the agreement. Dr. Robin Zeng, Founder, Chairman and CEO of CATL, and William Li, Founder, Chairman and CEO of NIO, also attended the signing ceremony.
The strategic cooperation agreement extends CATL’s existing partnership with NIO. Through it, the two companies will aim to advance their technological cooperation in new brands, new projects, and new markets. In achieving these goals, they will look to improve supply-demand coordination, boost overseas expansion, and develop a business model focused on long service life batteries.
CATL and NIO will continue to leverage their respective resource advantages to build a battery supply system with improved efficiency and synergy. With the system, both firms hope to improve innovation capabilities and efficiency, based on advanced battery technology.