Beijing (ZXZC)- On May 21, Chinese new energy vehicle maker NIO and legacy automaker China FAW Group signed a strategic cooperation framework agreement to advance collaboration in the battery swap and EV charging sector.

From left to right: Sun Huibin, General Manager of Department of Strategy and Cooperation of FAW Group; Qiu Xiandong, Chairman and Party Secretary of FAW Group; Li Bin, Founder, Chairman, and CEO of NIO; Shen Fei, Senior Vice President of NIO; photo credit: NIO

This partnership aims to establish standards for battery technology, develop vehicle models with swappable and rechargeable batteries, manage battery assets and operations, build and operate a comprehensive charging and battery swap service network, and enhance battery procurement and supply chain integration.

NIO's CEO, Li Bin, stated that this strategic partnership is expected to promote the standardization of battery swap technology, universalization of the battery swap technology, and expansion of the battery swap network. These advancements aim to alleviate electric vehicle users' range anxiety and accelerate the development of China's intelligent electric vehicle industry.

Photo credit: NIO

To date, NIO has formed strategic partnerships with seven automakers, including Changan Automobile, Geely Holding Group, Chery Automobile, JAC Group, Lotus, GAC Group, and China FAW Group, to promote standardized and scalable energy infrastructure networks. Additionally, NIO collaborates with major energy companies such as Sinopec, China National Offshore Oil Corporation (CNOOC), Shell, State Grid, and China Southern Power Grid, to rapidly develop the battery swap ecosystem, providing users with more efficient and convenient energy replenishment services.