Cairo, October 4, 2024 – NIO, a leading company in the smart electric vehicle (EV) market, has teamed up with Abu Dhabi’s CYVN Holdings, a major investor in advanced mobility, to launch a new joint venture, NIO MENA. This partnership marks NIO's official entry into the Middle East and North Africa (MENA) region.

The joint venture aims to bring NIO's cutting-edge electric vehicles to MENA, supporting the region’s push toward sustainable transportation and green energy. NIO MENA will not only offer NIO's EV models but also those from its subsidiary brands, expanding the company’s presence in the global smart EV market.

The United Arab Emirates (UAE) has been chosen as the first market for NIO MENA, setting the stage for the introduction of advanced technologies such as autonomous driving and battery-swapping systems. In addition, NIO and CYVN Holdings plan to open a new research and development (R&D) center in Abu Dhabi. This facility will focus on advancing autonomous driving and artificial intelligence, boosting NIO’s global innovation capabilities and driving technological progress in the MENA region.

NIO and CYVN Holdings are also planning to work together on a new electric vehicle project, which will include research, manufacturing, and new product launches. This effort will involve collaborations with local partners in Egypt, enhancing Egypt’s role in the electric vehicle production industry.

Jassem Mohamed Obaid Bu Ataba Alzaabi, Chairman of CYVN Holdings, said, "We are proud to support NIO as a leader in the EV sector. This partnership reflects our shared commitment to achieving transformative goals in smart mobility and fostering strong strategic collaborations."

William Li, NIO’s Founder and CEO, added, "This partnership with CYVN Holdings is a key part of our global strategy to make smart electric vehicles more accessible and drive innovation. With CYVN’s support, we are ready to expand our business and bring advanced EV technology to customers across the MENA region."