NIO teams up with Forseven Limited for tech licensing agreement.

TLDR:

• NIO entered into a technology license agreement with Forseven Limited.
• The agreement allows Forseven to use NIO’s technical information and intellectual property rights for the development and sales of smart electric vehicles.

In a recent announcement, NIO Inc., a pioneer in the premium smart electric vehicle market, disclosed that its subsidiary, NIO Technology (Anhui) Co., Ltd., has signed a technology license agreement with Forseven Limited. This agreement grants Forseven a non-exclusive license to utilize certain technical information and intellectual property rights related to NIO’s smart electric vehicle platforms for the development, manufacturing, and sales of vehicles under the Forseven brand. The agreement includes technology license fees and provisions for after-sales services. Both parties have the option to terminate the agreement under specific conditions. NIO Inc. emphasizes its continuous technological innovations and breakthroughs in the electric vehicle market. The company’s focus on shaping a joyful lifestyle through smart electric vehicles sets it apart in the industry.