Qingdao-based home appliance manufacturer Hisense signed a strategic cooperation agreement on September 13 with NIO, a leading Chinese electric vehicle company. Under this framework, the two sides will cooperate in the fields of overseas market expansion, home appliance product collection, and the new energy vehicle industry. This will include vehicle air conditioning, vehicle thermal management systems, intelligent transportation, new displays and multimedia products.
As an intelligent electric vehicle company, NIO has set up R&D, production, sales and service organizations in Shanghai, Beijing, Nanjing, San Jose, Munich, and other key cities. It has operated in the global market since 2021.
After 53 years of development, Hisense’s business covers multimedia, home appliances, IT intelligent information systems and modern service industries. At present, it is transforming and upgrading from the traditional home appliance industry to the high-tech industry. It owns 23 R&D institutions, 29 industrial parks and production bases around the world, and its products are sold in more than 160 countries and regions, 80% of which are from independent brands.
Hisense said in the announcement that it and NIO share very similar values, development concepts and strategic layout. These values include adhering to a long-term approach, the pursuit of quality, full-stack self-research, globalization and so on.
Hisense also said that it has three listed companies in Shanghai, Shenzhen, Hong Kong and Tokyo, while NIO has completed listing in the the US, Hong Kong and Singapore, and will seek to list in A-shares in the future.
This comprehensive strategic cooperation between the two parties will be based on Sanden Corporation, an automotive electronics brand owned by Hisense. In the future, the two sides will expand in-depth cooperation in smart cities, smart communities, smart homes, displays, big data, artificial intelligence, autonomous driving and other industries.
With the rapid development of new energy vehicles, many companies began to cooperate with EV manufacturers such as NIO. On August 16, QQ Music announced that it will provide in-car Dolby Atmos audio services for NIO. In addition to cooperating with Hisense and QQ Music, NIO also cooperated with Sinopec to build charging and battery swapping stations. As of April 15 this year, NIO had cooperated with Sinopec for one year, jointly building 175 charging and battery swapping stations.