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NIO and Sinopec sign a strategic partnership agreement

Chinese electric vehicles manufacturer NIO and petrochemical conglomerate Sinopec signed a strategic partnership agreement, in addition to battery charging and swapping network development.

NIO and Sinopec sign a strategic partnership agreement
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The two will comprehensively cooperate in new materials, smart EV tech., Battery-as-a-Service (BaaS), vehicle purchasing, and recreational facility constructions to further leverage their advantages in building an innovative collaboration model between the global energy and automotive industries. 

According to Yuzhuo Zhang, Sinopec’s Chairman and Secretary of the Leading Party Member Group, Sinopec is accelerating its transformation from traditional petroleum product sales to an integrated energy service provider of oil, gas, hydrogen, electricity, and non-oil businesses, focusing on developing new dimensions such as battery swapping high-power DC fast charging. Over the next few years, Sinopec plans to deploy 5,000 battery charging and swapping stations. The partnership with NIO will enable both to leverage their advantages, deepen the collaboration in a broader scope, and ultimately achieve more significant results, promoting a high-quality economic and social development and a higher quality of life for all. 

According to William Li, founder, chairman, and CEO of NIO, NIO and Sinopec’s collaboration will efficiently consolidate their resources and bring a better charging and swapping experience to EV users. Sinopec’s determination to invest in green energy service will encourage more people to adopt new energy vehicles. 

More information www.nio.com