According to Securities Times, Wencan Co., Ltd. (603348) disclosed the details of signing a strategic cooperation framework agreement with NIO on the evening of March 26, which involves a number of cooperations such as the research and development of integrated die-casting structural parts.
Pursuant o the framework agreement, the two parties will carry out in-depth cooperation in the four dimensions of supply chain proximity, low-carbonization, digital transparency and globalization to achieve supply support around NIO’s Hefei factory, carry out the substantive implementation of low-carbon material utilization and supply chain carbon reduction, establish a transparent, open and fair digital supply chain collaboration, and conduct business cooperation on a global scale to support the healthy development of the global business of both parties.
Among them, the agreement mentions in-depth cooperation in the lightweight research and development of body integrated die-casting structural parts and the application of new materials. For the reasonable optimization of products, the two parties establish and use fast channel support, and cooperate to realize all-round cooperation and discussion on integrated battery box, some products of three electric power and automobile chassis and other products.
“To achieve near-local supply before 2025, the two parties jointly arrange capacity expansion plans, including but not limited to investing in new production lines and building new production bases, to ensure the smooth production and delivery of NIO projects.” Wencan stated. In terms of low-carbon and green aluminum materials, the two parties jointly set goals and measures, and effectively implement the construction of a low-carbon supply chain to create an industry benchmark. In terms of low digital transparency, the digital system of Wencan Lu’an factory will be realized by 2025.
In addition, the agreement pointed out that the two parties will further discuss cooperation in other business areas, including but not limited to cooperation at the capital level. In terms of brand promotion, the two parties carry out in-depth cooperation on NIO brand promotion, business car purchases, and employee car purchases. The agreement is valid for five years and can be renewed upon mutual agreement.
It should be noted that the strategic cooperation framework agreement signed this time is an agreement of intent between the two parties and is not mandatory. The specific cooperation business needs to be negotiated and signed by the two parties.