BASF Coatings and NIO Forge Strategic Alliance to Transform Electric Vehicle Coatings

The signing of the Letter of Intent took place at BASF Coatings’ headquarter in Muenster, Germany.
Die Unterzeichnung der Absichtserklärung fand am Hauptsitz von BASF Coatings in Münster statt.
Foto: MünsterView/ Heiner Witte

(IN BRIEF) BASF Coatings and NIO have signed a Letter of Intent to establish a long-term strategic partnership focused on enhancing automotive exterior coatings for NIO’s electric vehicles. The agreement outlines a framework for annual strategic dialogues, covering market development, project management, and information sharing. BASF will provide NIO with tailored products and value-added services including color design, digital solutions, sustainability initiatives, workshops, and technical support, all aimed at driving innovation and achieving shared sustainability and carbon neutrality goals.

(PRESS RELEASE) LUDWIGSHAFEN, 1-Jul-2024 — /EuropaWire/ — BASF SE (ETR: BAS), the world’s largest chemical producer, announces that its Coatings division and NIO, a trailblazer in the smart electric vehicle market, have signed a Letter of Intent to forge a strategic partnership in the automotive coatings sector. This agreement signals a move toward a long-term, mutually rewarding collaboration centered on advanced automotive exterior coatings for NIO’s electric vehicles.

Under the terms outlined in the LoI, both companies will engage in annual strategic discussions to refine and implement their joint initiatives. Their cooperation will span several areas, including market and customer development, project management, and ongoing information sharing. BASF Coatings will supply NIO with a comprehensive portfolio of products that meet exacting technical standards, along with value-added services such as innovative color design and development, digital integration, sustainability programs, interactive workshops, and robust technical support.

Uta Holzenkamp, President of BASF Coatings, commented on the partnership: “The signing of today’s agreement builds on a decade of successful collaboration. NIO’s leadership in electric vehicles—driven by advanced technology and a strong brand identity—positions us well to explore new innovations together while supporting their sustainability targets and long-term objectives.”

NIO has identified BASF Coatings as its key strategic partner for automotive exterior coatings, underscoring the importance of this alliance in achieving shared sustainability and carbon neutrality goals. The two companies are set to jointly advance the development and application of next-generation coating materials and technologies on a global scale.

This partnership marks a significant milestone in the automotive industry, paving the way for enhanced innovation and strategic alignment in the rapidly evolving electric vehicle market.

About NIO

NIO is a global smart electric vehicle company founded in November 2014. Dedicated to shaping a sustainable and brighter future together by providing high-performance smart electric vehicles and exceptional user experiences, NIO is the first car company listed on the NYSE, HKEX and SGX. NIO currently has three major brands under its umbrella: NIO, ONVO and firefly.

Ten years into establishment, NIO is now one of the leading companies in the global premium smart electric vehicle market, committed to fostering its own research and development capabilities for core technologies. As of the end of December 2024, the company had filed for and obtained over 9,800 patents. Additionally, NIO has developed NIO Full Stack, a collection of 12 technology domains.

NIO has R&D and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, Wuhan, San Jose, Munich, Oxford, Berlin, Budapest, Singapore and Abu Dhabi. The company has also established sales and service networks in China, Norway, Germany, the Netherlands, Sweden, Denmark, the UAE, Israel and Azerbaijan.

NIO Inc. currently offers nine premium smart electric vehicle models under the NIO brand and one smart electric vehicle under the ONVO brand. firefly has started its pre-orders in China. As of January 31, 2025, NIO Inc. had delivered a total of 685,427 vehicles, leading the premium BEV segment priced above RMB 300,000.

About BASF Coatings

The Coatings division of BASF is a global expert in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings, decorative paints as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. We create advanced performance solutions and drive performance, design and new applications to meet our partners’ needs all over the world. BASF shares skills, knowledge and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America and Asia Pacific. In 2024, the Coatings division achieved global sales of about €4.3 billion.

Solutions beyond your imagination – Coatings by BASF. For more information about BASF Coatings and its products, visit www.basf-coatings.com.

Press Contact:
NIO
Mike Xu
Supply Chain
+86 18616857425
mike.xu@nio.com

BASF Coatings:
Jörg Zumkley
Media Relations
+49 173 200 1896
joerg.zumkley@basf.com

SOURCE: BASF SE