Shanghai (Gasagoo)- BP Ventures, announced on July 25 that it will invest $10 million in NIO Capital, in order to prop up NIO Capital in exploring new opportunities in China's new energy vehicle ecosystem.

To seek new opportunities in advanced mobility area, the investment will be applied in various areas, covering electric vehicles, new energy infrastructure, intelligent vehicle systems, internet of vehicle, new materials including batteries, as well as other areas that both parties may be interested in.

On May 10, BP and NIO Capital announced they have signed a memorandum of understanding (MoU) to establish a long-term partnership to jointly explore opportunities in advanced mobility in China and internationally. The $10 million investment implied a solid step after they signed the MoU.

BP is one of the leading foreign investors in the Chinese oil and gas sector. BP’s business activities in China include oil and gas exploration and development, petrochemicals manufacturing and marketing, aviation fuel supply, oil products retailing, lubricants blending and marketing, oil and gas supply and trading, LNG terminal and trunk line operation and chemicals technology licensing.

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