EV battery startup WeLion New Energy Technology has drawn investments from venture capital arms of both Xiaomi and Huawei, which has boosted its registered capital to CNY61.36 million (US$9.68 million) from CNY58.03 million.
In addition to Xiaomi and Huawei, other investors include Shunwei Capital Partners and Zhejiang Geely Holding Group.
WeLion is mainly devoted to the development of solid-state batteries, but is pushing semi-solid batteries at the moment as the company's technologies for solid-state batteries are still not mature.
Samsung SDI is currently working on a solid-state battery made of sulfide with the battery undergoing technical verification at the moment. The company also began constructing a production line specifically for the battery.
Automakers Volkswagen, Daimler, Nissan, Toyota, BMW as well as China-based SAIC Motor, Beijing Automotive Industry, and NIO have also made deployments for solid-state batteries.
