WeLion New Energy closes RMB 1.5Bn Series D funding round | FutureX Portfolio
WeLion New Energy Technology Co., Ltd., ("WeLion New Energy"), a portfolio company of FutureX and an industry leader in solid-state lithium batteries, closed a RMB 1.5 billion Series D round. Investors were led by China Chengtong Mixed Reform Fund, followed by CITIC Construction Investment, SDIC ChuangYi Industry Fund, China Merchants Capital, Dyee Capital, Hidden Hill Capital, Hermitage Capital, Huzhou Economic Development, Yunhe Partners, and other investors. The round was followed by Zibo Jingneng, which also participated in earlier fundraising rounds. Lighthouse Capital acted as the exclusive financial advisor for this round of financing. After the financing is completed, the company will further speed up its production line expansion, as well as its investments towards R&D.
Founded in 2016, WeLion New Energy is a national high-tech enterprise focusing on the R&D and production of solid-state lithium batteries, with a series of core patented technologies. Focusing on high energy density, high safety, high power, wide temperature range and long-life solid-state battery products, the company has been the first to complete the world's first solid-state lithium-ion prototype vehicle and released the first solid-state lithium-ion battery product with a range of 1000 km with strategic car manufacturers. As of now, the company has 4 production bases in Fangshan, Beijing, Liyang, Jiangsu, Huzhou, Zhejiang and Zibo, Shandong.
WeLion New Energy has strategically entered the automotive and energy storage fields, focusing on high range power batteries and high safety energy storage batteries. In terms of R&D, the company has applied for more than 400 national patents and authorized more than 100, including core materials and technologies such as composite cathode, solid electrolyte, diaphragm and cathode of solid-state batteries, forming an intellectual property system. In terms of industrialization, the company has entered into cooperation with many domestic and international OEMs such as NIO and Geely. Among them, the hybrid solid-liquid electrolyte battery with NIO is expected to start mass production by the end of this year or the first half of next year, and the battery can have a range of 1000 km on a single charge.