WeLion

Following the completion of the financing, WeLion will further accelerate the construction of its production line and increase its R&D investment.

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.

Nio's semi-solid-state batteries purchased from WeLion are not significantly more expensive than the existing liquid batteries, according to local media.

The battery will give the Nio ES8 a range of 850 kilometers, the ES6 a range of 900 kilometers and the ET7 a range of more than 1,000 kilometers.

The partnership will help accelerate the further commercialization of semi-solid-state batteries and solid-state batteries, WeLion said in a statement today.

WeLion has signed an agreement with Ronbay Technology to purchase no less than 30,000 tons of solid-state lithium battery cathode material products from the latter from 2022-2025.

WeLion was out of favor with investors just over a year ago, but with Nio Day 2020 putting solid-state batteries in the spotlight, the company's funding environment has turned around.

WeLion's registration information has been changed, with affiliates of Xiaomi and Huawei as new shareholders.

WeLion's founder said the company is working with Nio to launch a hybrid solid-liquid electrolyte battery based on the ET7 with a range of 1,000 kilometers on a single charge.

The first phase of the project is designed to have an annual capacity of 20 GWh of hybrid solid-liquid electrolyte cells and all-solid-state batteries and will go into production this year, according to WeLion.