On May 22nd, according to China FAW, on May 21st, China FAW and NIO signed a strategic cooperation framework agreement at the Jilin Anhui Cooperation and Development Exchange Symposium. Qiu Xiandong, Chairman and Party Secretary of China FAW, and Li Bin, Founder, Chairman, and CEO of NIO, attended the signing ceremony. Sun Huibin, General Manager of China FAW's Strategy and Cooperation Department, and Shen Fei, Senior Vice President of NIO, represented both parties in signing the contract.
According to the strategic cooperation framework agreement, China FAW and NIO will further leverage their respective advantages to carry out comprehensive and multi-level deep strategic cooperation around battery technology standards, research and development of rechargeable and replaceable battery models, battery asset management and operation, construction and operation of charging and swapping ecological service networks, and procurement and supporting facilities for the battery industry.