On February 4th, the People’s Government of Hefei signed a framework agreement with NIO to deepen cooperation. The two parties agreed to jointly plan and build the Xinqiao Intelligent Electric Vehicle Industrial Park to create a world-class intelligent electric vehicle industry cluster with a complete industrial chain.
According to the agreement, Hefei will increase its support for the intelligent electric vehicle industry, introduce more high-quality enterprises in the industry chain to settle in the park, and provide supporting policy support in terms of construction, funding, talent and other aspects for enterprises settling in the park. NIO will plan and layout long-term development around the Xinqiao Park, and establish R&D and manufacturing, marketing and management teams in the park.
The Xinqiao Park integrates R&D, manufacturing, demonstration applications, and industrial supporting services. Hefei will also use the capital gains from its equity investment in NIO China to support the development of NIO and Hefei’s intelligent electric vehicle industry cluster.
Source: NIO China
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