FAW Group Corporation (FAW) and NIO, Chinese new energy vehicle maker, signed a strategic cooperation framework agreement at the symposium on Jilin-Anhui Cooperation and Development Exchange on May 21.

Qiu Xiandong, chairman of FAW Group and secretary of the CPC FAW Group Committee, said that FAW will seize opportunities created by the cooperative development of Jilin and Anhui provinces, and fully leverage the role of central state-owned enterprises in scientific and technological innovation. “We will work together with NIO and other outstanding enterprises on the automobile industrial chain to explore the potential for further cooperation and push for new outcomes, and support the automobile industry in Jilin and Anhui provinces in the transformation towards green and intelligent development,” said Qiu.

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

Under the agreement, the two parties will further leverage their respective advantages, carry out comprehensive and in-depth cooperation in areas such as the standards of battery technology, research and development of vehicle models with swappable and rechargeable batteries, battery assets management and operations, establishment and operation of charging and battery swap service network, and battery procurement and supply chain integration.  

FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.