NIO's electric vehicle construction is being concretized. In a joint press release, the cooperation in the areas of pure electric vehicles and relevant research fields such as intelligent transport systems and automated driving is announced. The aim should be a long-term partnership.
In a first step, Continental is to supply vehicle components such as air suspension systems and tires for the fully electric ES8 off-road vehicle. Frank Jourdan, Continental board member and head of the Chassis & Safety division, and William Li, founder and chairman of NIO, signed the agreement on Wednesday in Berlin.
For this purpose, Dr. Elmar Degenhart, CEO of Continental quoted: “The cars of the future will be electric. In addition, it is fully networked and automated. We expect a market share for purely electric drives of around 2025 percent in 10. Continental is well positioned to meet these future requirements for automotive drive systems. China is already one of the leading markets for electric vehicles. Our collaboration with NIO will help advance the development of electric vehicles and strengthen the Chinese electric vehicle market ”.
William Li, Founder and Chairman of NIO said, “We are very much looking forward to partnering with Continental on a number of projects. Our cooperation extends over the areas of automated driving as well as charging and battery technology. The aim is to offer our customers unique services and experiences ”.
NIO and Continental have been working together in numerous areas since NIO was founded in 2014. The first products and services from Continental will already be used in NIO's first series vehicle - the ES8 - which is scheduled to go on sale in 2018. As part of the agreement, Continental and NIO will also work together on new NIO vehicle platforms. These include vehicle technologies such as wireless charging, automated driving, digital cockpits, next-generation braking systems and air suspension systems.
About Continental: Continental develops pioneering technologies and services for the sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2016, Continental achieved sales of 40,5 billion euros and currently employs more than 227.000 people in 56 countries.
About NIO: The global start-up NIO, founded in November 2014, has first-class centers for research and development, design and manufacturing in Munich, San José, London, Shanghai and eight other locations. The Formula E team from NextEV NIO secured the championship title of the opening season 2015. In 2016, NIO presented the fastest electric vehicle in the world, the EP9. The EP9 set the lap record for an electric vehicle on the Nordschleife at the Nürburgring and on three other world-famous tracks. In 2017, NIO presented its vision of a vehicle of the future with EVE and announced that NIO's EP9 had set a new world record for the speed of an autonomous vehicle on the Circuit of the Americas. The founding investors are William Li, Richard Liu, Xiang Li, Hillhouse Capital and Shunwei Capital. Other investors include Temasek, Baidu Capital, Sequoia Capital, Hopu, Lenovo, Warburg Pincus, TPG, GIC, IDG and Joy Capital.
Source: Press release and image material NIO / Continental, image and video material NIO
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