CATL and NIO deepen agreement to expand and improve battery life
Two major Chinese companies, CATL and NIO, have announced the extension of their existing agreement with the aim of expanding into other markets and improving battery life. This new comprehensive strategic cooperation has been signed by both parties for an initial duration of five years.
The ceremony took place in Ningde City, Fujian Province, Southeast China. In attendance were Wei Zhu, executive president of CATL’s passenger vehicle business unit, and Alan Zeng, senior vice president of NIO. Robin Zeng, founder, chairman and CEO of CATL, and William Li, founder, chairman and CEO of NIO, also attended the signing.
The new agreement commits CATL and NIO to drive technology cooperation on new brands, new projects and new markets, improve coordination between supply and demand, drive overseas expansion and develop the business model focused on long-life batteries.
Both parties will continue to leverage their respective resource advantages to build a battery supply system with efficiency and synergy, as well as enhance innovation capabilities and efficiency in battery technology. To this end, CATL will provide its expertise in batteries and NIO will provide its expertise in electric vehicles and electric vehicle technology.
Individually, both are highly successful companies worldwide. In CATL’s case, it aims to once again become the world’s leading battery manufacturer, while NIO continues to expand globally with its broad portfolio of all-electric and connected vehicles, as well as continuing to roll out its innovative NIO Power SWAP Station 2.0 battery swap stations, which have already arrived in Europe. The latter is a similar solution to the one also launched by CATL last year, which they called EVOGO.
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