The Chinese electric vehicle maker whose Formula E team captured the fledgling motorsport's first world championship has announced a partnership with French oil company Total.
The European fossil fuel giant has already made strides into clean energy and transport solutions and today announced a strategic partnership between its venture capital arm Total Energy Ventures and the NIO Capital fund management division of Shanghai-headquartered NIO, whose electric racing team is a world leader.
The new co-operation will aim to exploit the hugely promising electric vehicle market in China, where a burgeoning middle class exhibits a desire for car ownership against a backdrop of loud complaints about air quality.
A press release announcing the partnership cited an ambition to enter the EV market and develop innovative products related to autonomous driving; intelligent systems, to maximize charging opportunities; connected vehicles that will sync to other devices as part of the Internet of Things; and mobility services such as electric public transport and short-term personal transport options.
Total has settled upon a company with knowledge of the Chinese market and which already has a considerable public profile, having lifted the first Formula E championship in 2015. NIO's EP9 became the fastest electric car in the world in 2016 and went on to set a new record for an autonomous vehicle.
The company also made headlines late last year with the official launch of its seven-seater ES8 electric SUV.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.