NIO and CATL Sign Strategic Cooperation Agreement

On March 17, NIO and CATL signed a strategic cooperation agreement in Ningde, Fujian, planning to build a battery swap network covering all passenger cars, unify industry technical standards, deepen capital and business cooperation, and provide users with more efficient new energy vehicle solutions. CATL will make a strategic investment of no more than RMB 2.5 billion in NIO Energy to strengthen the partnership between the two parties.