In a significant development for the electric vehicle sector, NIO, a leader in premium smart EVs, has partnered with Abu Dhabi-based CYVN Holdings, a prominent investor in smart and advanced mobility.
The announcement was made in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi, President of Egypt.
This collaboration marks NIO's official entry into the Middle East and North Africa (MENA) region, where it plans to introduce its cutting-edge electric vehicle solutions, aligning with the region's sustainable development goals. NIO MENA will launch a range of vehicle models, including those from its subsidiary brands, with the UAE selected as the initial market, highlighting its pivotal role in deploying advanced autonomous driving systems and battery-swapping technologies.
To further bolster its presence, NIO and CYVN Holdings are set to establish a state-of-the-art research and development (R&D) center in Abu Dhabi. This facility will focus on advancements in autonomous driving and artificial intelligence, enhancing NIO's global R&D capabilities while fostering technological innovation in the MENA region.
Additionally, the partnership aims to collaborate on a new electric vehicle project involving research, manufacturing, and future product launches, which will include local partnerships in Egypt, strengthening the nation’s position in the electric vehicle manufacturing landscape.
Jassem Mohamed Obaid Bu Ataba Alzaabi, Chairman of CYVN Holdings, expressed pride in supporting NIO, emphasizing their shared commitment to transformative goals in smart mobility.
William Li, NIO’s Founder, Chairman, and CEO, highlighted that this collaboration will enhance global accessibility to smart electric vehicles and drive technological innovation in the MENA region.
News Source: Emirates News Agency
