NIO-Backed Weineng Enters New BaaS Cooperations

A signing ceremony was held in Wuhan, China on July 12, during which NIO-backed Weineng Wuhan Battery Asset Co., Ltd. entered into cooperation agreements with upstream and downstream partners across the industrial chain, including Sihao New Energy of JAC Group, Zeqing New Energy, CMB Yunchuang Technology, Foton’s Zhicheng Yunli, Geely Commercial Vehicles-Soland Energy, CIRI Auto Technology Institute, Dinghe Insurance, and the China Automotive Technology & Research Center.

The contracted contents include various parts of Weineng’s BaaS services, such as the Battery Asset Management Solution (BA), Lithium Solution Data Intelligent Management Solution (LS) and Resource Recycling Solution (BRC).

At the signing ceremony, Weineng announced that it has reached BaaS battery asset business cooperation with Sihao New Energy of JAC. The two sides have cooperated on the power battery assets of power exchange versions, applied them to BaaS battery rental service scenarios, and created a safe and reliable battery cloud management solution for battery assets in the power exchange scenarios.

Weineng and Zeqing New Energy have confirmed cooperation in BaaS battery rental business. Under the arrangement, Weineng will provide Zeqing with a complete set of BaaS service solutions, including battery technology, data intelligence and asset management capabilities. Both parties will combine their respective superior resources in R&D, technology and operation management, give full play to the role of industrial value chain, and jointly promote the popularization and application of electric vehicle power battery swap mode in the field of public travel.

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Weineng mainly provides battery rentals and related services. In August 2020, CATL announced its investment to establish Weineng with NIO Inc., GuoTai JunAn International Holdings, and Hubei Science Technology Investment Group Co., Ltd.