CATL and NIO sign a five-year strategic partnership agreement.
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CATL and NIO sign a five-year strategic partnership agreement.

CATL and NIO aim to deepen technological cooperation, improve supply-demand coordination, and expand overseas in developing a long-service life battery business model.

CATL and NIO signed a five-year strategic partnership agreement on January 17 in Ningde, China. The agreement, signed by Wei Zhu of CATL and Alan Zeng of NIO, aims to deepen the companies’ technological cooperation in new brands, projects, and markets, improve supply-demand coordination, and expand overseas.

The partnership will focus on developing a long-service life battery business model. Both companies will work to build an efficient and synergistic battery supply system and improve innovation capabilities based on advanced battery technology for a better travel experience for electric vehicle users.

Wei Zhu, executive president of the 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, attended the signing ceremony.

Also Read: Volkswagen delivered over 500k EVs in 2022, a 26 percent YoY increase.

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