NIO announced that it has entered into a technology licensing agreement with Forseven, authorizing the latter to develop, manufacture, and sell eligible models.

According to news from this site on February 26, NIO issued an announcement tonight, announcing that NIO Technology (Anhui) Co., Ltd. and Forseven, a subsidiary of CYVNHoldingsL.L.C, have entered into a technology license agreement.

According to this technology license agreement, the company will grant Forseven a non-exclusive and non-transferable global license to use certain existing and future technical information and technical solutions related to or included in the company’s smart electric vehicle platform , software and intellectual property rights, used to develop, manufacture, sell, import and export models sold or promoted under the Forseven brand that comply with the manufacturer's suggested retail price (excluding taxes) pre-agreed under the technology license agreement, and provide them with Users provide or purchase certain after-sales services for licensed products.

Hubei NIO Energy Investment Co., Ltd. today entered into a partnership with China Southern Power Grid Peak Regulation and Frequency Modulation (Guangdong) Storage Co., Ltd., a wholly-owned subsidiary of China Southern Power Grid Energy Storage Co., Ltd. Energy Technology Co., Ltd. signed a cooperation framework agreement.

According to the agreement, the two parties will cooperate in five major aspects: battery bank investment management, battery escalation and recycling, battery swap station business, virtual power plant projects, and equity investment. Details can be found in previous reports on this site.

Related reading:

"China Southern Grid Energy Storage Subsidiary signed a cooperation framework agreement with NIO, involving battery recycling, battery replacement and other businesses"

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