NIO teams up with steel producer Baosteel for supply chain, low-carbon tech

Shanghai (Gasgoo)- Chinese EV startup NIO and the state-owned steel producer Baoshan Iron & Steel Co., Ltd. (called “Baosteel” for short) struck a deal on Jan. 10 to carry out strategic cooperation in a range of areas, such as the ecosystem of supply chain, and the applications of green low-carbon and EVI (Early Vendor Involvement) technologies, according to a post on Baosteel's WeChat account.

The cooperation will involve such products as non-oriented silicon steel, cold-rolled automotive steel sheet, aluminum material, as well as rods and tubes.

NIO, Baosteel signing agreement: Baosteel

“NIO needs global partners like Baosteel to team up on products, supply chain, technology innovation, application of new materials, zero-carbon route map, and other fields,” said William Bin Li, founder, Chairman, and CEO of NIO.

“Baosteel has an absolute advantage in non-oriented silicon steel and automotive sheet, with QCDDS (quality, cost, development, delivery, and service) serving as the core competency for its integrated material solutions. In the future, both parties will cement the cooperation on “green low-carbon” business, and jointly assume the mission of peaking carbon dioxide emissions and achieving carbon neutrality,” said Zou Jixin, Chairman of Baosteel.

Neither Baosteel nor NIO revealed which models of NIO will enjoy the fruit of the newly-forged partnership.

Baosteel was founded in February 2000, and was listed on Shanghai Stock Exchange in December of the same year. Its steel products are used for a wide range of fields, such as automobiles, household appliances, energy and marine engineering, bridges, heavy rail and etc.