Nio's battery swapping stations at Sinopec's gas stations?
1. **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.
2. **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.
3. 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.
4. 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](https://preview.redd.it/kz74c0wm1ph61.png?width=1440&format=png&auto=webp&s=c3e6f64c4be971ae3b96c4b1d982ee2faed74814)
[Next to a Sinopec gas station](https://preview.redd.it/1o2h1lmq1ph61.png?width=1208&format=png&auto=webp&s=c8396b11f34a8744373168c1755c7e13c9d010e5)
5. They literally met on Valentine's Day!
https://preview.redd.it/n6b4ngoh1ph61.png?width=259&format=png&auto=webp&s=14616ce07cee8d0debe6465b801c363c4fe329b7
News source:
[https://cnevpost.com/2021/02/15/oil-giant-sinopec-chairman-visits-nios-battery-swap-station/](https://cnevpost.com/2021/02/15/oil-giant-sinopec-chairman-visits-nios-battery-swap-station/)
https://www.reddit.com/r/StockMarket/comments/lkl9yk/nios_battery_swapping_stations_at_sinopecs_gas/
