Group 1 - NIO's joint venture with JAC Motors, Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd., has been announced to be dissolved, which is related to NIO obtaining independent production qualifications [2] - The dissolution of Jianglai Company confirms the termination of manufacturing cooperation between NIO and JAC Motors, which began in 2016 when NIO's vehicles were produced by JAC Motors [2][3] - In 2024, NIO acquired its own factory and production qualifications, leading to the end of its manufacturing collaboration with JAC Motors [2] Group 2 - Despite the end of manufacturing cooperation, NIO and JAC Motors will continue to collaborate in other areas of smart electric vehicles, including a battery swap strategic cooperation framework agreement signed in 2024 [3] - NIO's independent production qualification was achieved through a longer process compared to other new car manufacturers, which often opted for partnerships or acquisitions to gain production capabilities [6] - NIO's new manufacturing facility, which features the industry's first domestically developed steel-aluminum hybrid production line, is expected to reduce material processing costs for vehicle production [6]

Core Viewpoint - NIO's joint venture with JAC Motors has been dissolved, which is related to NIO obtaining independent production qualifications [2][4]. Group 1: Termination of Cooperation - The dissolution of Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd. confirms the end of manufacturing cooperation between NIO and JAC Motors, which began in 2016 [4]. - In 2021, NIO and JAC Motors signed a joint venture agreement to further their collaboration in electric vehicle manufacturing and established Jianglai Company for manufacturing management and supply chain management [5]. Group 2: Independent Production Qualification - By 2024, NIO acquired its own factory and production qualifications, leading to the termination of its manufacturing cooperation with JAC Motors [5]. - NIO's founder, Li Bin, introduced the new manufacturing facility, which features the industry's first domestically developed steel-aluminum hybrid production line, set to begin operations in August 2024 [11]. Group 3: Future Collaborations - Despite the end of manufacturing cooperation, NIO and JAC Motors will continue to collaborate in other areas of smart electric vehicles, including a strategic cooperation framework for battery swapping [6][5]. Group 4: Market Performance - As of July 7, the stock price of JAC Motors was reported at 41.27 CNY per share, with a total market capitalization of 901.3 billion CNY [7]. - NIO's stock price was reported at 26.75 HKD per share, with a total market capitalization of 605.8 billion HKD [12].