Chinese EV manufacturer Nio, Inc. (NYSE:NIO) announced Friday a cooperation agreement with the World Wide Fund for Nature.
What Happened: Shanghai-headquartered Nio said it has entered into a "Clean Parks" strategic cooperation with the WWF, with both parties serving as co-sponsors of the project.
Under the agreement, both companies will co-operate to establish a clean and low-carbon energy circulation system in national parks and nature reserves and drive clean mobility and sustainable development. WWF on its part will collaborate with authoritative research institutions worldwide to explore solutions to biodiversity conservation.
Separately, Nio said its lifestyle brand "Nio Life" launched on Friday "Clean Parks – Sanjiangyuan Collection." The EV maker hopes to involve vehicle owners in charitable projects and help improve the local ecosystem and revive local cultural heritage and handicrafts.
Related Link: Nio to Hike Vehicle Prices Beginning May 10: Here Are The Details
Why It's Important: Nio's announcements come on the "World Earth Day," observed on July 22 every year.
Being a manufacturer of new energy vehicles, Nio looks to further the cause of the environment by helping reduce pollutants. The company announced the "Clean Parks" project at its Nio Day 2021 as an ecological co-construction initiative.
"Clean Parks is the world's first open platform started by a car company in pursuit of supporting construction and protection of national parks and nature reserves," Nio said.
Nio shares closed Thursday's session 5.51% lower at $17.15, according to Benziga Pro data.
Related Link: Nio Analyst Predicts Over 200% Upside For Stock: 'EV Maker Has Clear Growth Prospects In 2022'
