Nio partners with CYVN’s Forseven in tech license agreement.

TLDR:

• Nio has signed a technology license agreement with Forseven, a subsidiary of CYVN Holdings.
• Under the agreement, Nio will grant Forseven a worldwide license to use certain existing and future technologies related to its smart EV platforms.

Nio, a leading Chinese EV maker, has announced a technology licensing agreement with Forseven, a subsidiary of CYVN Holdings, an Abu Dhabi government fund. This agreement allows Forseven to use Nio’s existing and future technologies related to its smart EV platforms. The licensed technologies will be used for research and development, manufacturing, sales, and after-sales services for vehicles sold under Forseven’s brand. Nio will receive technology license fees based on future sales of licensed products by Forseven. The agreement will remain in force until the end of production of licensed products or Forseven’s obligation to provide after-sales service to users. This partnership comes after CYVN made significant investments in Nio in 2023, becoming the largest shareholder in the company. The board appointments of two CYVN representatives in Nio earlier this month further solidified the relationship between the two entities.