The first phase of the institute will be over 8,000 square meters in size and is expected to be completed and operational this year.

(Image credit: Mirattery)

's battery asset management joint venture, Wuhan Weineng, or Mirattery, began construction of its full-cycle general technology institute in Wuhan on March 1.

It is the first comprehensive research institute in China that aims to unlock the full-cycle value of power batteries and has capabilities for academic exploration, technology research and industrial application, Mirattery said in a press release Tuesday.

The first phase of the project, which is over 8,000 square meters in size, is expected to be completed and operational within 2022, according to the press release.

The institute will develop efficient and versatile battery technologies, enhance the overall value of the full battery cycle and put research results into use, according to the company.

Mirattery was founded on August 18, 2020, with a registered capital of RMB 800 million by , NIO, Guotai Junan and Hubei Science Technology Investment.

In August 2020, NIO launched its BaaS (Battery as a Service) battery leasing business, with Mirattery as the manager of the battery assets.

The BaaS business allows users to purchase NIO vehicles without buying a battery, thereby reducing the cost of the vehicle at the time of purchase by at least RMB 70,000. But instead of the owner owning the battery, Mirattery will hold the title to the battery.

On December 15 last year, Mirattery said it had more than 4 GWh of battery assets under management, 100 times the 0.04 GWh it had in September 2020, the company's second month of existence.

Mirattery's research institute includes a high-accuracy testing experiment line and a high-efficiency battery recycling demonstration line, which will cover R&D in all aspects of battery full-cycle management, including battery materials and battery systems.

The company did not specify, but the images it provided show the institute is based on the renovation and refurbishment of an existing building.

When completed, the institute will have more than 40 top technical R&D talents and over 100 sets of industry-leading R&D equipment, which will help it achieve breakthroughs in technologies including battery material analysis, failure analysis, battery evaluation, and recycling, Mirattery said.

The construction of the institute is an important milestone in Mirattery's battery lifecycle management. As the world's first innovative company to adopt BaaS technology and business model, the company is committed to providing a complete set of solutions including battery technology, data intelligence and asset management capabilities for the whole industry, it said.