On the evening of March 17, NIO and Contemporary Amperex Technology signed a strategic cooperation agreement in Ningde, Fujian. According to the agreement, both parties will leverage their advantages in technology, management, platforms, brand resources, etc., based on the trends of Global automotive industry transformation and upgrading, aiming to create the largest and most technologically advanced passenger vehicle battery swap service network in the world. In response to the national new energy vehicle development strategic plan, both parties will deepen battery swap network sharing on the basis of a unified battery standard and promote the popularization and upgrading of battery swap services. Contemporary Amperex Technology will support the development of NIO's battery swap network, and the new models developed under the firefly brand of NIO will timely adopt the chocolate battery swap standards and network from Contemporary Amperex Technology. The battery swap network of both parties will adopt a "dual network parallel" model, jointly providing battery swap owners with a more convenient and efficient battery swap experience, further enhancing the convenience of electric travel.