Nio and Guangzhou Automobile Group Co., Ltd. ("GAC Group") signed a strategic cooperation agreement on charging and swapping in Guangzhou, Guangdong Province. The two will engage in comprehensive and in-depth strategic cooperation in areas related to charging and swapping, including battery standards, vehicle R&D and customization, battery asset management and operations, swapping network development and operations. In the meantime, they will also promote the opening up of their respective charging platforms to each other. With William LI, Founder, Chairman and CEO of Nio, and Feng Xingya, President of GAC Group, attending the ceremony, Fei SHEN, Senior Vice President of Nio Power, and Xia Xianqing, Vice President of GAC Group, signed the agreement on behalf of the two parties.

According to the agreement, Nio and GAC Group will work together to build a unified battery standard, jointly develop passenger vehicles with swappability and battery swap stations compatible with models of both brands, push forward the launch of swappable vehicle models with batteries designed under the standards established by both, as well as advance the implementation of the swap station solution catering to both Nio and GAC vehicles. The two companies will also facilitate the opening up and interconnection of battery swapping networks that runs on a unified operational and management system, establish a larger, standardized, and unified power infrastructure network to achieve economies of scale. A management system covering the lifecycle of power batteries is also within the cooperation plan, and so are an efficient management platform and an operating mechanism for battery assets.

Based on their own charging facilities, Nio and GAC Group will realize dynamic data interconnectivity by the end of this month, making charging easier by enabling users to not only search for and navigate to a charger, but also start and pay for a charging session through the brands' apps, mini-programs, and power maps on center displays.

William LI, Founder, Chairman and CEO of Nio, said,"Nio is happy to cooperate with GAC on charging and swapping. As a pioneer in the NEV industry, GAC Group boasts a large user base and rich experience in the construction and operations of charging and swapping infrastructure. The cooperation will amplify the two companies' respective strengths in technology and operations, and push forward the unification of battery standards and operational and management systems, so as to make swapping a more approachable solution, and provide users with experiences as hassle-free as refueling."

Feng Xingya, President of GAC Group, said, "Going forward, with the growing NEV population, battery swapping will unleash unlimited market opportunities, especially in cities. Because it actually solves a pain point for many users who don't have dedicated parking spots. I'm glad to see that Nio and GAC can partner in this area. The strategic cooperation agreement that we signed today is also a foundation and guidance for our future cooperation. With it as a starting point, we hope to build more battery swap stations with which our GAC Aion users will have a better swapping experience."

Embracing cooperation in charging and swapping technologies, as well as networks, Nio has partnered with Chang'an Automobile, Geely Holding Group, Chery Automobile, JAC Group, and Lotus for a standardized, unified power infrastructure network of broader coverage. Moreover, Nio has been engaged in comprehensive cooperation on swapping with companies in the energy sector, including SINOPEC, CNOOC, Shell, State Grid Corporation of China, China Southern Power Grid, Anhui Wenergy, and Zhong'an Energy, in the pursuit of a fast-developing battery swapping ecosystem, as well as more efficient and convenient recharging experiences.