Shanghai (ZXZC)- Chinese solid-state battery developer Beijing WeLion New Energy Technology Co., Ltd. (“WeLion”) recently introduced several new investors, including affiliated companies of Xiaomi, Huawei, and Geely.

WeLion's solid-state lithium ion battery pack; photo credit: WeLion

According to the corporate database Tianyancha, the new investors affiliated to the aforesaid tech giants and automakers are Hubei Xiaomi Yangtze River Industry Investment Fund Partners (Limited Partnership) (a Xiaomi-backed industry fund), Shenzhen Hubble Technology Investment Partners (Limited Partnership) (a subsidiary of Huawei Technologies Co., Ltd.), and Ningbo Geely Blue Initiative Business Management Partners (a subsidiary of Zhejiang Geely Holding Group).

With the introduction of new investors, the registered capital of WeLion has increased by 5.74% to 61,367,286 yuan ($9.638 million).

Founded in 2016, WeLion focuses on the R&D and production of hybrid solid-liquid electrolyte lithium-ion batteries and all-solid-state lithium batteries. It is the only industrialization platform of solid-state battery technologies from the Key Laboratory of Renewable Energy of Institute of Physics, Chinese Academy of Sciences. Headquartered in Beijing, it has three production bases in Fangshan in Beijing, Liyang in Jiangsu, and Huzhou in Zhejiang.

At the China EV100 Forum 2022 held last weekend, Li Hong, founder of WeLion, said the company is working with NIO to launch a hybrid solid-liquid electrolyte battery with a range of 1,000 kilometers on a single charge, based on the ET7 model. The volume production of the battery is likely to start at the end of 2022 or in the first half of 2023.