r/StockMarket - Nio’s battery swapping stations at Sinopec’s gas stations?
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Sinopec (China Petroleum & Chemical Corporation) is a fossil fuel energy giant (ranked #2 on the 2019 Fortune 500) with 30,000+ gas stations across China, but apparently electric vehicles are the future.
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Nio’s Battery as a Service (BaaS) business model has been highly successful in China and there’s no question Nio will need to build more and more battery swap stations.
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Partnership between Nio and Sinopec sounds like a natural next step for Nio to utilize the existing infrastructure of Sinopec, and for Sinopec to be part of the future.
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You don’t get the chairman of Sinopec and president of Nio to meet at a Nio battery swap station next to a Sinopec gas station during the Chinese New Year holiday for no reason.
Nio battery swap station
Next to a Sinopec gas station
5. They literally met on Valentine’s Day!
News source:
https://cnevpost.com/2021/02/15/oil-giant-sinopec-chairman-visits-nios-battery-swap-station/
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