Nio said it and JAC, Chery will carry out deep strategic cooperation in battery standards, battery swap technology, battery swap service network construction and operation.
Nio (NYSE: NIO) confirmed that it has signed partnerships on battery swap with Anhui Jianghuai Automobile Group (JAC) and Chery, following media reports of the development earlier today. lithium ion battery pack
JAC, Chery and Nio have reached strategic cooperation agreements on battery swap, with JAC chairman Xiang Xingchu and Chery chairman Yin Tongyue signing on behalf of the two carmakers with Nio founder, chairman and CEO William Li, according to a statement from the EV maker.
Nio, JAC and Chery will carry out in-depth strategic cooperation in battery standards, battery swap technology, and battery swap service network construction and operation, Nio's statement said.
Nio and JAC have worked closely together, and the latest battery swap business partnership will open a new chapter in their strategic cooperation, the company said.
"In recent years, Chery has made remarkable achievements in both domestic and international markets, and Chery's new energy vehicle business is growing rapidly. Through this partnership, Chery and Nio will leverage their respective strengths to provide users with high-quality charging and battery swap services," said William Li, founder, chairman and CEO of Nio.
The signing with JAC and Chery is the latest strategic cooperation between Nio's battery swap business and its industry partners after Changan Automobile and Geely Holding, the company said.
This will further drive the sharing and long-term development of Nio's charging and battery swap business, the company added.
Nio views its battery swap service as similar to a cloud service, and Li has mentioned several times that the service has reached a point where it can be opened up to partners.
On November 21, Nio and Changan signed a battery swap business cooperation agreement, in which the two companies will collaborate on the construction and sharing of a battery swap network and the development of battery swap-enabled models.
On November 29, Nio and Geely signed a strategic cooperation agreement that will jointly promote the development of swappable battery standards, the construction and sharing of battery swap networks, and the development of battery swap-enabled vehicles.
JAC, Nio's partner in vehicle manufacturing, previously operated two factories in Hefei, Anhui province -- the Nio F1 and F2 factories -- and on December 5 the companies announced that Nio would purchase the assets including the two factories.
Chery, which is also headquartered in Anhui, is one of China's largest private automakers and one of the few auto giants not currently on the stock market.
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