Sinopec, Nio to Team Up on EV Battery Swap Stations
Liao Shumin
DATE:  Apr 15 2021
/ SOURCE:  Yicai
Sinopec, Nio to Team Up on EV Battery Swap Stations Sinopec, Nio to Team Up on EV Battery Swap Stations

(Yicai Global) April 15 -- Sinopec is linking arms with Chinese electric car startup Nio to install 5,000 battery charging and swapping depots at its service stations by 2025, China’s second largest oil and gas producer said today.

The two parties will join forces in the fields of battery charging and swapping, new materials and smart vehicles, it said.

The deal comes as Shanghai-based Nio’s first second-generation Power Swap Station was opened at a Sinopec service station in Beijing today. It is the first fully intelligent battery swapping station in the world which can change a battery in just 4 minutes and 30 seconds, three times faster than the first generation, and can perform 312 battery swaps a day.

Nio’s ‘Battery as a Service’ concept has taken a while to gain consumer acceptance. It separates ownership of the vehicle from the battery, allowing customers to buy the battery with the vehicle or, instead, to rent a battery, saving substantially on the cost of the car and doing away with lengthy charging times.

The service also overhauls Sinopec’s nationwide network of 30,000 filling stations by providing the latest infrastructure needed for non-fossil fuel guzzling vehicles. In recent years, Beijing-based Sinopec has started to turn more towards green energy with investments in photovoltaic, wind and hydrogen power.

Editor: Kim Taylor

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Keywords:   Sinopec,Nio