NIO & FAW Group Announce Battery Swapping & Technology Collaboration

NIO and China's FAW Group have signed a strategic cooperation agreement to engage in comprehensive and in-depth strategic cooperation in areas including battery technology standards, R&D of vehicles with chargeability and swappability, and battery asset management and operations.

They will also collaborate in the development and operations of a recharging service ecosystem, as well as battery procurement and supporting mechanisms.

The announcement was made at the Jilin-Anhui Joint Development Forum in China.

FAW Group Corp., Ltd. is a Chinese state-owned automobile manufacturer headquartered in Changchun, Jilin.

NIO has R&D centers and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, San Jose, Munich, Oxford, Berlin, Budapest and Singapore.

William Li,  Chairman and CEO of NIO, said: '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'.

Qiu Xiandong, Secretary of the CPC FAW Group Committee, commented: added: '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'.

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.