CATL, NIO step up strategic cooperation with 5-year agreement

Shanghai (Gasgoo)- On Jan. 17, Chinese battery giant CATL and the electric vehicle startup NIO signed a five-year agreement for an all-around strategic cooperation, according to a post on CATL's WeChat account.

The batteries on NIO's existing vehicles are almost entirely supplied by CATL. The latest move indicates that the strategic partnership between the two companies has been further cemented and upgraded. Under the new agreement, both parties will conduct technical cooperation on new brands, new projects, and new markets, form linkage between supply and demand ends, and jointly boost overseas businesses.

Photo credit: CATL

In addition, the cooperation deepened will allow the duo join hands to develop the business model based on long-service-life batteries.

Based on advanced battery technologies and both parties' respective resources, CATL and NIO will team up on building a battery supply system featuring highly efficient coordination and improving their innovation ability, so as to offer intelligent vehicle users more pleasant driving and riding experience, said CATL. 

CATL recorded a domestic power battery installed capacity of 142.02GWh in 2022, accounting for 48.2% of China's total yearly volume, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

NIO scored a highest-ever monthly delivery volume in Dec. 2022, which soared 50.8% over a year earlier.

As of Dec. 2022, NIO's cumulative deliveries had amounted to 289,556 units, 122,486 vehicles (+34% YoY) of which were delivered last year.