Two more electric vehicle manufacturers have chosen to team up against the competition.
The new alliance between FAW Group and Nio Inc. aims to introduce a common EV battery standard to be used by both companies. The parties to the agreement also undertake to unite efforts on new EV research and development.
The specifics remain to be announced, but it looks like Nio has found a partner for expanding its network of battery swap stations for EVs. Being a large state-controlled corporation, FAW Group can help Nio’s battery swap network in China break even and become profitable.