NIO signs strategic cooperation agreement with Shell

On November 25, NIO (NYSE: NIO), a global smart electric vehicle company, announced to have entered into a strategic cooperation agreement with Shell to further collaborate in the electric vehicle and energy industries globally.

According to the agreement, NIO and Shell will jointly construct and operate battery charging and swapping facilities. NIO and Shell plan to install 100 battery swapping stations in China by 2025 and start constructing and operating pilot stations in Europe from 2022. Shell’s charging network in Europe will also become available to NIO users.

In the meantime, NIO and Shell will continue to explore more collaboration opportunities in battery asset management, fleet management, membership system, home charging services, advanced battery charging and swapping technology development, and construction of charging facilities in China.