German technology company Continental has signed a strategic cooperation framework agreement with NIO, a global electric vehicle startup. The two companies will collaborate closely in the field of fully electric vehicles and other relevant fields, including intelligent transportation systems and automated driving, “striving to build a stable partnership on a long-term basis”.
Under the agreement, Continental and NIO will further collaborate on NIO new car platforms. In a first step, Continental will supply vehicle technology such as air suspension systems and tires to NIO’s ES8 electric SUV.
“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.
NIO and Continental have been cooperating in a number of areas ever since NIO was established in 2014. Continental’s 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.