Breaking news! NIO and Foneng Energy are forming a joint venture to develop cylindrical batteries.

According to sources, the two companies are planning to invest in a trial line in Ma'anshan, and some of their R&D personnel will be merged, but their manufacturing and procurement will remain independent.

A person close to the industry chain said that the joint venture is mainly for medium-term testing and development, and the subsequent mass production nodes may be in 2025.

If the cooperation news is true, this new cooperation model between the car company and the power battery company will bring more thinking to the industry. NIO and Foneng Energy will both benefit, and the mass production and commercial application of cylindrical batteries will be accelerated.