Nio to take over plant assets from manufacturing partner JAC

Nio to take over plant assets from manufacturing partner JAC

FILE PHOTO: Super chargers of Chinese electric vehicle (EV) maker Nio are placed at a delivery center of the company, in Nanxiang, Shanghai, China March 23, 2023. REUTERS/Aly Song/File Photo

Nio said it would take over some plant assets from partner Anhui Jianghuai Automobile Group (JAC) as the Chinese electric vehicle maker moves closer to producing cars on its own to save manufacturing costs.