Securities Times E Company News: On November 21st, Changan Automobile and NIO signed a cooperation agreement on battery swapping business in Chongqing. The two sides will cooperate in promoting the establishment of battery swapping standards, the construction and sharing of battery swapping networks, the research and development of battery swapping models, and the establishment of an efficient battery asset management mechanism. Li Bin, founder, chairman, and CEO of NIO, stated that after 5 years of development, NIO Power Exchange Network and NIO Energy Cloud have accumulated rich experience in research and development, construction, and operation. NIO Power Exchange business is ready to open up to the industry. Changan Automobile Chairman Zhu Huarong stated that in the future, Changan Automobile will not only cooperate with NIO in the field of battery swapping, but also continue to strengthen cooperation with NIO in other platform based and basic ecological fields, such as energy, charging and swapping, vehicle, ecology, etc., to jointly promote the construction of a high-quality development pattern in the industry, and form a benign ecology of co creation, sharing, mutual benefit and reciprocity.