NIO, an NYSE-listed Chinese EV manufacturer, has partnered with Abu Dhabi-based CYVN Holdings to form NIO MENA, a joint venture (JV) targeting the Middle East and North Africa markets.

The partnership aims to introduce NIO and its sub-brand models to the MENA region, starting with the UAE in Q4 2024. The collaboration includes plans for local production, R&D, and the development of a new EV model specifically for the local market.

In addition, NIO and CYVN will establish an R&D center in Abu Dhabi focused on autonomous driving and AI. They will also work with local partners in Egypt to advance the country's role in EV manufacturing.

Analyst QuickTake: Earlier this month , the company partnered with Monolith, an AI software provider, to deploy AI technology to improve EV battery monitoring and performance. The partnership will use Monolith's Anomaly Detector AI software to monitor the battery performance data of NIO's EVs in the field and identify any anomalies. In February 2024 , NIO entered a technology licensing agreement with Forseven Limited, a subsidiary of CYVN Holdings.