BP and China’s NIO Capital to explore opportunities in advanced mobility

BP and NIO Capital have signed a memorandum of understanding (MoU) to establish a long-term partnership to jointly explore opportunities in advanced mobility in China and internationally. This is expected to include potential investment opportunities in areas including electric vehicles, new energy infrastructure, intelligent automotive systems, connected vehicles and new materials including batteries, as well as other areas of possible mutual interest.

Tufan Erginbilgic, Chief Executive, BP Downstream, says: ‘Advanced technology is now driving rapid changes in transportation and China, which is seeing some of the fastest growth in new energy vehicles, is a key market for BP. We are looking to develop fast-charging solutions through partnering and to further develop new and innovative consumer offers. We expect this partnership will extend our participation in advanced mobility, bringing benefits to our retail customers in China.’