[TechWeb] News on October 5, NIO Automobile announced today that on October 4, NIO and CYVN, the company’s strategic investor, signed a strategic cooperation agreement, announcing that they will establish an advanced technology R & D center in Abu Dhabi, United Arab Emirates.
The two parties will also jointly develop a new model for the local market.
At the same time, NIO announced that it will officially start business in the Middle East and North Africa region, and the United Arab Emirates will become the first market for NIO’s Middle East and North Africa company.
, Li Bin, founder, chairman and CEO of NIO, said: “We are optimistic about the development prospects of smart electric vehicles in the Middle East and North Africa market.
As an important strategic investor and partner of NIO, CYVN has abundant local resources, which will help NIO’s business continue to grow in the region.
The cooperation between NIO and CYVN will further promote the company’s globalization and technological innovation strategy, accelerate the globalization process of NIO, and bring innovative smart electric vehicle technology and experience to users in the Middle East and North Africa.
“, It is understood that since 2021, NIO’s global business has focused on products, services and communities, and NIO has entered the markets of five European countries throughout the system.
As of the end of September 2024, six mass production models including EL8 (ES8 in China market), ET7, EL7 (ES7 in China market), ET5, ET5T, and EL6 (ES6 in China market) have entered the European market.
At present, NIO has deployed 56 power exchange stations in Europe, connected more than 600,000 third-party charging piles, and built 8 NIO centers, 10 NIO spaces, and 45 NIO service centers.
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