Continental and NIO Sign Strategic Cooperation Agreement in the Field of Electric Vehicles
- Collaboration agreed in the areas of fully electric vehicles, intelligent transportation systems and automated driving
- Continental to supply vehicle technology to NIO’s ES8 electric SUV
- Continental CEO Dr. Degenhart: “Together we will further advance the development of electric vehicles”
- Founder and chairman of NIO William Li: “We are excited to be partnering with Continental on a number of projects to deliver unique services and experiences to our users”
“Cars of the future will feature electric drives, which will be fully connected and automated. In 2025, we expect a market share for fully electric drive systems of around 10 percent. Continental is well positioned to successfully meet these future demands on automotive drive systems. Already today, China is one of the leading markets for electric vehicles. Our collaboration with NIO will contribute to further advance the development of electric vehicles and the Chinese electric vehicle market”, said Continental Chairman of the Executive Board Dr. Elmar Degenhart.
“We are excited to be partnering with Continental on a number of projects, including automated driving, charging, and battery technology, to deliver unique services and experiences to our users,” commented William Li, founder and chairman of NIO.
Continental and NIO plan to establish a timely information-sharing mechanism with different levels of communication channels, and regularly carry out technical exchanges to jointly define leading process and quality standards. Furthermore, both sides agreed to establish cooperation platforms in the areas of brand promotion, product marketing, technology promotion, quality training, customer service and talent training. An action plan and a strategic alliance will be further discussed and developed.
NIO and Continental have been cooperating in a number of areas ever since NIO was established in 2014. Continental’s innovative products and services will be used in NIO’s first mass production car, the ES8, which will be launched on the market in 2018. Under the agreement, Continental and NIO will further collaborate on NIO new car platforms. This includes vehicle technologies such as wireless charging, automated driving, digital cockpit, next-generation brake systems and air suspension systems.