NIO, Hisense to cooperate on several NEV-related businesses

Shanghai (Gasgoo)- Chinese EV manufacturer NIO and the multinational appliance and electronics manufacturer Hisense Group entered into a framework agreement on Sept. 13 to conduct all-round strategic cooperation in several fields related to the new energy vehicle (NEV) industry, according to a press release from Hisense.

The NEV-related fields in which both parties will team up on include automotive air conditioning system, vehicle thermal management system, intelligent transportation system, C-V2X, as well as new types of display and multimedia technologies and products.

Under the agreement, the duo will also co-work on overseas market expansion and home appliance procurement.

Photo credit: Hisense

The newly-formed strategic cooperation regards Hisense's subsidiary, Sanden Corporation, as the prime cooperative platform. As publicly disclosed, Hisense Home Appliances completed the acquisition of Sanden's stocks in June 2021, representing approximately 75% of the total voting rights and becoming the controlling shareholder of Sanden.

As a world's leading tier-1 supplier of automotive air-conditioning compressors and systems, Sanden mainly serves such world-class automakers as Mercedes-Benz and Volkswagen. Its new-generation electric compressors, comprehensive thermal management system, and automotive air-conditioning products have been widely applied in the NEV domain.

In the future, Hisense and NIO will cement their cooperation in such fields as smart city, smart community, smart house, display, big data, AI, and autonomous driving.