In Europe, Würth will support the customization of Nio's mobile service vehicles and help Nio develop its sales, after-sales service and energy replenishment network through its integrated stores.
Nio (NYSE: NIO) has signed an agreement with Germany's Würth Group to work together in Europe as well as in China.
The Chinese electric vehicle (EV) maker signed a global strategic cooperation agreement with Würth on September 14 at the latter's headquarters in Künzelsau, with Nio founder, chairman and CEO William Li attending the signing ceremony, according to a press release by Würth today.
Nio did not issue a press release about the signing. Würth is the global market leader in the development, production, and sale of fastening and assembly materials, its website says.
Nio and Würth have been working together in Europe since 2022, with the German company providing workshop equipment and labor protection workwear, according to the Würth press release.
Starting in 2023, the two companies agreed to work together to promote smart EVs, Würth said.
In Europe, Würth will support the customization of Nio's mobile service vehicles and help Nio develop its sales, after-sales service and energy replenishment network through Würth's integrated stores, its press release said.
Würth will also utilize its existing logistics network to help Nio improve logistics efficiency, it said.
In China, Nio and Würth will cooperate in areas including after-sales service, maintenance, labor supplies and logistics services.
Würth has nearly 80 years of experience in providing car care products and professional tools to car companies and their after-sales services globally, and its network covers more than 80 countries.
The latest partnership will strengthen the competitiveness and reach of Nio and Würth in the EV and automotive aftermarket, according to the release.
Würth currently has more than 400 branches worldwide, employs more than 85,000 people, serves more than 4.1 million customers globally and has 2022 sales of €19.93 billion ($21 billion).
($1 = 0.9492 euros)
All employees hold Nio shares as of year-end 2022, ESG report shows
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