NIO is expected to receive a small batch of 150-kWh semi-solid-state batteries from WeLion in September and start using them in the fourth quarter, according to a previous media report.

Tianqi Lithium forms JV with NIO's solid-state battery supplier WeLion-CnEVPost

Chinese lithium giant Tianqi Lithium has formed a joint venture with NIO's solid-state battery supplier Beijing WeLion New Energy Technology, with business involving materials development and power battery recycling.

The joint venture was incorporated in Shenzhen on August 17 with a registered capital of 20 million yuan ($3 million), information from data provider Tianyancha shows.

A subsidiary of Tianqi in Shenzhen holds a 58.5 percent stake in the joint venture, and WeLion holds a 41.5 percent stake, according to the information.

Tianqi Lithium forms JV with NIO's solid-state battery supplier WeLion-CnEVPost

Notably, a subsidiary of Tianqi in Chengdu holds a 3.26 percent stake in WeLion.

The joint venture's business scope includes R&D of electronic special materials, R&D of resource renewable technologies, and recycling and utilization of power batteries for new energy vehicles (NEVs).

On May 20, Tianqi's announced that one of its subsidiaries had signed an agreement with WeLion to form a joint venture.

The aim of the move is to jointly engage in the development, production and sales of pre-lithiated anode materials and recycling, lithium metal anode and lithium-based alloy anode materials, pre-lithiated reagents and pre-lithiated manufacturing equipment products, according to Tianqi.

The establishment of the joint venture will help improve the company's core competitiveness and profitability, Tianqi's previous announcement said.

For its part, WeLion said at the time that the cooperation between the two companies would help accelerate the further commercialization of semi-solid-state batteries and solid-state batteries.

Shenzhen-listed Tianqi, one of China's largest lithium producers, raised about HK$13 billion in a Hong Kong listing on July 13.

Last month, Tianqi said in an exchange announcement that it expects first-half net profit attributable to shareholders to be 9.6 billion yuan to 11.6 billion yuan, up 110 to 134 times from a year earlier.

Tianqi attributed the first-half earnings surge to a significant increase in sales and selling prices of its lithium products.

Li Hong, chief scientist and founder of WeLion, said on March 27 that the company was making batteries with a 1,000-kilometer range on a single charge based on the ET7.

On July 21, China's official Securities Times quoted NIO as saying the company would deliver the 150-kWh solid-state battery packs in the fourth quarter, reiterating its previous plan.

The 150-kWh solid-state packs feature a solid electrolyte, silicon-carbon composite anode material, ultra-high nickel cathode material and an energy density of 360 Wh/kg, the report said.

On July 29, local media outlet LatePost reported that NIO is expected to receive a small batch of 150-kWh semi-solid-state batteries from WeLion in September and will get them into mass production and use in the fourth quarter.

NIO expected to get small batch of 150-kWh semi-solid-state batteries from WeLion in September

CnEVPost Daily Newsletter