CATL and NIO signed a five-year comprehensive strategic cooperation agreement in CATL on January 17, according to the official WeChat public number of CATL. Zhu Wei, Executive President of CATL Passenger Vehicle Division, and Zeng Shuxiang, Senior Vice President of NIO, signed the agreement on behalf of both parties. Founder, Chairman and CEO of CATL, Mr. Zeng Yuqun, and Founder, Chairman and CEO of NIO, Mr. Li Bin, witnessed the signing.
According to the report, the signing of this comprehensive strategic cooperation agreement is another deepening and upgrading of the strategic partnership between the two sides based on strategic cooperation, involving technical cooperation for new brands, new projects and new markets, supply and demand linkage, overseas business expansion, and business model cooperation based on long-life batteries.
Officials say that the two parties are once again joining forces to build a long-term strategic partnership that will be mutually beneficial and win-win. Based on the advantages of their respective resources, CATL and NIO will create an efficient and synergistic battery supply system based on advanced battery technology, enhance innovation capabilities and efficiency, provide a more enjoyable travel experience for smart electric vehicle users, and contribute to the global competitiveness of China’s new energy vehicle industry.
According to the research report of Dongwu Securities, in the first three quarters of 2022, CATL’s top 5 customers were Tesla, Geely, NIO, Guangzhou Auto and Xpeng, in addition to Tesla’s installed capacity accounted for 18% of the remaining large customers accounted for less than 10%.