NINGDE, China, Jan. 18, 2023 /PRNewswire/ -- On January 17, CATL and NIO signed a five-year comprehensive strategic cooperation agreement in the city of Ningde, Southeast China'sFujian Province. Wei Zhu, executive president of passenger vehicle business unit of CATL, and Alan Zeng, senior vice president of NIO, signed the agreement. Dr. Robin Zeng, founder, chairman and CEO of CATL, and William Li, founder, chairman and CEO of NIO, attended the signing ceremony.

The comprehensive strategic cooperation agreement further deepens CATL's strategic partnership with NIO. The two parties will advance technological cooperation in new brands, new projects and new markets, improve supply-demand coordination, propel overseas expansion, and develop the business model centering on long service life batteries.

CATL and NIO will continue to leverage their respective resource advantages to build a battery supply system with efficiency and synergy and improve innovation capabilities and efficiency based on advanced battery technology, thus delivering a more pleasant travel experience to smart electric vehicle users.