SKF and Chinese electric vehicle manufacturer NIO have expanded their strategic cooperation. As part of the agreement, SKF will be the preferred supplier of ceramic ball bearings and provide wide-ranging technical expertise to support NIO’s product development and global expansion plans, according to Electric Cars Report.
NIO delivered over 90,000 vehicles last year, mainly in its domestic market. In 2022, the automaker began to launch its vehicles across key European markets like Denmark, Germany, Sweden, and the Netherlands.
SKF & NIO Collaboration
“SKF has supported NIO since the launch of their first car in 2014. During this time, we have built a strong technical relationship, which is exemplified by this agreement. It also illustrates SKF’s premium capability within electric vehicles and our ability to support customers all over the world.” says David Johansson, President of SKF Automotive.
SKF’s innovative ceramic ball bearings, lighter and could rotate at faster speeds than traditional bearings, are a crucial component in many EV drivetrains.
“We have a history of working with SKF to build competitive EV products in the industry. We believe that SKF’s global experience and competence will provide strong support for our global strategy. Together we will bring more innovative products and excellent user experience to consumers on a global scale.” said Senior vice president of NIO and CEO of XPT, Alan Zeng.
SKF’s mission & sales growth
SKF’s mission is to be the leader in bearing business. The company offers solutions for friction and CO2 emissions reduction while also increasing machine performance and uptime.
It successfully delivered organic sales growth of 11 %. Businesses in India and the Americas provided a strong overall performance, and China was able to maintain its solid performance even with pandemic lockdowns.
As of October 25, the company says it is continuing to invest n regional manufacturing capabilities and shaping its factories to be more efficient.
NIO’s expansion across 4 European countries
On the other hand, NIO has announced its expansion in Denmark, Germany, Sweden, and the Netherlands at their NIO European launch event in Berlin.