NIO will partner with Sinopec to build charging piles in gas stations: market rumors

Sinopec’s official website disclosed on February 26 that Zhang Yuzhuo, chairman and party secretary of Sinopec Group, met with NIO’s founder and CEO, Li Bin (William Li), at the headquarters on February 24 this year.

NIO‘s fans club recently revealed that the electric vehicle maker will cooperate with the traditional energy giant Sinopec and its first second-generation charging station is expected to be launched at Sinopec gas stations in Beijing on April 15.

A reporter from Shanghai Securities News learned from the staff of NIO that related cooperation are “on the way” while the official announcement shall prevail.

In fact, the cooperation between the two parties began as early as February this year.

Sinopec’s official website disclosed on February 26 that Zhang Yuzhuo, chairman and party secretary of Sinopec Group, met with NIO’s founder and CEO, Li Bin (William Li), at the headquarters on February 24 this year to discuss the trends of the electric vehicle industry, the construction of charging and swapping facilities, and high-end synthetic materials.

The two parties also stated that they would further strengthen communication in the future, give full play to their respective technological and network advantages, and launch more extensive strategic cooperation to contribute to China’s vision of carbon neutrality, as the article pointed out at the time.

“If the cooperation between NIO and Sinopec goes smoothly, more charging stations are expected to appear in Sinopec gas stations in the future.” An expert in the electric vehicle industry told media that NIO has edges in the new energy vehicle market through the development of battery replacement model.

This battery replacement model not only requires a large amount of capital and technical investment, but also requires suitable locations and venues.

According to Li’s previous comments, each second-generation charging station is as big as 4 parking spaces, with capacities serving 312 units on average each day.

In 2021, NIO will begin to deploy second-generation power stations, and its total number of stations nationwide will exceed 500.

If the two parties finally reach an agreement, leveraging Sinopec’s advantage of more than 30,000 gas stations across the country can help NIO locating more suitable sites for stations.

Industry insiders believe this possible cooperation is based on China’s goal to peak carbon dioxide emissions and onwards to carbon neutrality. The pressure to reduce carbon emissions is driving traditional energy companies to move closer to the clean use of energy.

Zhang stated once at the beginning of this year that in order to achieve the carbon peak goal and carbon neutrality vision, Sinopec has formulated energy development plans covering oil, gas, hydrogen, electricity, and wind, and fully participates in the construction of charging and replacement infrastructure networks, and speed up the development of hydrogen energy use.

The State Grid Corporation of China recently released a carbon peak and carbon neutral action plan, which also expressed its full support for the development of new energy industry.

Other multinational oil companies are also involved in the field of electric vehicles, which seems to have become a trend.

A charging equipment supplier revealed that it has helped build charging facilities for Shell China throughout the country.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/03/11/nio-will-partner-with-sinopec-to-build-charging-piles-in-gas-stations-market-rumors/.

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