Nio Inc., a leading Chinese electric vehicle manufacturer, has announced a significant expansion of its charging network through a new partnership with Sinopec, a major oil refiner based in Beijing. This collaboration will enable Nio drivers to access and utilize a vast network of Sinopec EV charging stations across China, enhancing their charging experience and convenience.
Nio drivers can now easily locate and use Sinopec EV chargers directly through the Nio app or their vehicle’s center display. This new agreement signifies a crucial step in expanding the EV charging infrastructure available to Nio consumers, further promoting the adoption of electric vehicles in China.
This partnership is a continuation of a longstanding collaboration between Nio and Sinopec, dating back to April 2021. The two companies signed an agreement to jointly develop battery charging and swapping infrastructure, leading to the construction of 175 charging and swapping stations by 2022.
Sinopec’s strategic move into the EV charging business aligns with the growing demand for electric vehicles in China. While the company’s traditional fuel business experienced a slight decline in revenue during the first half of 2024 due to weakening diesel demand and the rise of electric vehicles, Sinopec is actively diversifying its portfolio by expanding its EV charging infrastructure. The company reported an impressive 0.43 billion yuan ($0.061 billion) in operating revenue from its EV charging business in the first six months of 2024.
This collaboration between Nio and Sinopec represents a significant milestone in the development of a robust and convenient charging ecosystem for electric vehicles in China, driving the adoption of sustainable mobility solutions.
