NIO renews contracts with Jianghuai Automobile and Jianglai Advanced Manufacturing Technology

  • NIO (NYSE:NIO) has entered into manufacturing contracts with Jianghuai Automobile Group (JAC) and Jianglai Advanced Manufacturing Technology ((Jianglai)) regarding the joint manufacturing of NIO vehicles and related fee arrangements.
  • As per the new terms, from May 2021 to May 2024, JAC will continue to manufacture the ES8, ES6, EC6, ET7, and probably other NIO models in the pipeline.
  • In addition, JAC will expand its annual production capacity to 240,000 units.
  • NIO will be in charge of vehicle development and engineering, supply chain management, manufacturing techniques, and quality management and assurance.
  • Jianglai will be liable for parts assembly and operation management.