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NIO and Sinopec sign a strategic partnership agreement

NIO and Sinopec sign a strategic partnership agreement
Photo courtesy of NIO

Two of China’s giants in their respective fields, NIO and Sinopec, unveiled the NIO Power Swap Station 2.0 at Sinopec’s Chaoying Station in Beijing, China, last week. This is NIO’s inaugural second-generation battery swap station and also the first under the NIO-Sinopec partnership, representing the rollout of NIO Power Swap Station 2.0.

The partnership between Sinopec and NIO is an important milestone for further developing China’s smart electric vehicle (EV) industry, a concrete measure to help achieve peak carbon emissions and achieve carbon neutrality, a key step in developing global, green, and innovative transportation initiatives and innovations.

As a smart battery swap system enabled by software-defined cloud computing, NIO Power Swap Station 2.0 is the world’s first mass-produced battery swap station that allows the vehicle to maneuver into the station automatically. Each NIO Power Swap Station 2.0 has 239 sensors and four collaborating cloud computing systems that maximize the application of visual recognition technologies. Enabled by the technology, users can complete a self-service battery swap with only one click while staying in the car. The system can complete up to 312 battery swaps per day, significantly improving swapping efficiency.

Sinopec and NIO also signed a strategic partnership agreement. Besides battery charging and swapping network development, Sinopec and NIO have agreed to “comprehensively cooperate” in new materials, smart EV technology, Battery-as-a-Service (BaaS), vehicle purchasing, and recreational facility construction, to further leverage their advantages in building an innovative collaboration model between the global energy and automotive industries.

According to Yuzhuo Zhang, Sinopec chairman and secretary of the Leading Party Member Group, Sinopec is speeding up 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 businesses, 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 in China. Sinopec’s partnership with NIO will enable both companies to leverage their advantages, deepen their collaboration in a broader scope, and ultimately achieve more significant results.

According to William Li, founder, chairman, and CEO of NIO, the EV automaker’s collaboration with Sinopec 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, he said.