NIO, the Chinese EV manufacturer, has inked a global strategic cooperation agreement with Germany's Würth Group. The partnership, signed on September 14 at Würth's headquarters in Künzelsau, aims to strengthen their collaboration both in Europe and China.
NIO's founder, chairman, and CEO, William Li, was present at the signing ceremony, although NIO did not issue an official press release regarding the agreement. Würth Group, on the other hand, unveiled the details of this landmark collaboration. Würth is recognized globally as a leader in the development, production, and distribution of fastening and assembly materials.
This partnership is an extension of NIO and Würth's ongoing cooperation in Europe, which began in 2022. In the past year, the German company has been instrumental in providing workshop equipment and protective workwear for NIO.
Starting in 2023, the two entities have broadened their cooperation to advance the cause of smart EVs. In Europe, Würth will contribute to customizing NIO's mobile service vehicles and support the growth of NIO's sales, after-sales services, and energy replenishment network by leveraging Würth's integrated stores.
Furthermore, Würth's extensive logistics network will play a pivotal role in enhancing NIO's logistics efficiency in Europe. In China, NIO and Würth will join forces in various domains, including after-sales service, maintenance, labor supply, and logistics services.
Würth boasts nearly eight decades of experience in supplying car care products and professional tools to automotive companies and their after-sales services worldwide, with a presence in over 80 countries. This new collaboration is expected to bolster the competitiveness and global reach of both NIO and Würth in the rapidly expanding EV and automotive aftermarket.
Würth Group, with over 400 branches globally, a workforce exceeding 85,000 individuals, and serving more than 4.1 million customers worldwide, reported sales of €19.93 billion ($21 billion) in 2022. This partnership underscores the growing significance of international collaborations in the ever-evolving electric vehicle sector.