Smart and Sustainable Electric Mobility
Nio said it and CYVN, as well as their respective subsidiaries, will continue to work closely together in pursuing strategic and technological collaborations in international markets.
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Changan and Ganfeng will set up a joint venture based on equal shareholding to accelerate solid-state battery development and manufacturing.
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Li Auto's upcoming 800 V high-voltage all-electric platform will utilize STMicro's third-generation 1200 V SiC MOSFET technology.
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At the end of February, Li's stake in Nio was 10.5 percent, with 44.2 percent of the voting rights. CYVN will hold a 20.1 percent stake in Nio after its latest investment.
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Li said the battery swap business could become profitable if it averages 60 orders per station per day, and that figure has already reached 80 in Shanghai.
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With full control over all core processes of vehicle production, Nio will be able to improve its manufacturing efficiency and have more leverage in the fierce competition.
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Nio said it will acquire the manufacturing equipment and assets of the F1 and F2 plants from JAC for a total consideration of about RMB 3.16 billion.
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As JAC's deal to sell its factory assets comes to a deadline, rumors that Nio will buy them and announce its own car-making qualifications are circulating widely on Chinese social media.
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The two will build luxury smart connected EVs based on Huawei's smart car solutions, with product development under the overall responsibility of JAC.
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After Changan, Geely, JAC may also join Nio's battery swap system, local media said.
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