Shanghai (Gasgoo)- On October 4, NIO signed a strategic cooperation agreement with its strategic investor CYVN, announcing plans to establish an advanced technology R&D center in Abu Dhabi, UAE. The center will focus on developing intelligent driving and artificial intelligence technologies, expanding NIO's global R&D footprint and fostering innovation in the Middle East and North Africa (MENA) region.
NIO and CYVN will also collaborate on developing a new vehicle model tailored to the local market, aiming to better meet the growing demand for smart electric vehicles in the region.
In tandem, NIO revealed its plan to operate businesses in the MENA (Middle East and North Africa) market. The company's operations in the region will be handled by a newly formed joint venture between NIO and CYVN, called NIO MENA. This venture will provide local customers with services and contribute to the region's sustainable development goals.
The UAE will serve as the launch market for NIO MENA. Starting in the fourth quarter of this year, NIO will roll out its full suite of products, services, and community initiatives across the UAE.
Since 2021, NIO has made significant progress in its global business expansion. Across product, service, and community fronts, the company has fully entered five European markets. As of the end of September 2024, NIO has introduced six models in Europe—the EL8 (called ES8 in China), ET7, EL7 (called ES7 in China), ET5, ET5T, and EL6 (called ES6 in China). NIO has also built 56 battery swap stations in Europe, connected to over 600,000 third-party charging piles, and established 8 NIO Houses, 10 NIO Spaces, and 45 service centers.
