Nio Inc (NYSE: NIO) recently disclosed its collaboration with McLaren and the significant tech service revenue generated from this partnership. William Li, Nio’s founder, chairman, and CEO, confirmed the deep technical partnership with McLaren, revealing that a majority of the company’s technical service revenue is derived from this collaboration.
The collaboration between Nio and McLaren commenced in the first quarter and saw increased cooperation in the second quarter. However, Li mentioned that the revenue from this collaboration is not stable and fluctuates between varying levels.
During a small-scale briefing at Nio’s Shanghai headquarters, Li highlighted the acquisition of McLaren by Abu Dhabi’s CYVN Holdings, Nio’s major shareholder. The technical service revenue from McLaren has played a key role in contributing to Nio’s gross margin, as mentioned in the second-quarter earnings report released on September 2.
Nio’s earnings report for the second quarter showcased a significant growth in other sales revenue, reaching RMB 2.87 billion ($401 million). This growth was primarily attributed to increased revenue from used car sales, technical research and development services, and sales of parts, accessories, and after-sales services driven by the expanding user base.
CYVN Holdings, Nio’s largest shareholder, had previously made significant investments in the company, leading to a technology licensing agreement with CYVN-backed Forseven Limited in February 2024. Moreover, CYVN’s acquisition of McLaren’s automotive business in April 2025 further cemented the strategic partnership between Nio and McLaren.
In addition to the collaboration on technical services, Chinese tech media outlet Yiou reported in June that Nio would be developing and supplying power batteries for McLaren’s hybrid models. These batteries would be based on Nio’s in-house developed 4680 large cylindrical battery cells, with small-scale production expected to commence next year.
The partnership between Nio and McLaren signifies a significant step towards innovation and collaboration in the electric vehicle industry. The seamless integration of expertise and resources from both companies is expected to drive further advancements in technology and sustainable mobility solutions.
