Welion New Energy, a Chinese solid-state battery company, has reported reaching 824 Wh/kg energy density in lab tests—a significant step toward next-generation battery technology. The company aims to surpass 1,000 Wh/kg in the long term. This development is notable because higher energy density translates to longer ranges for electric vehicles, extended operation times for portable devices, and enhanced performance for energy-intensive applications.
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Breakthroughs and Challenges
Welion’s chairman, Yu Huigen, announced the results on Chinese state television. While the technology is proven in controlled environments, the primary barrier to widespread use remains cost. Solid-state batteries currently rely on expensive materials, particularly within the sulfide-based electrolyte systems they employ.
Initially, Welion plans to target high-value applications where cost is less of a concern, such as humanoid robots. This approach allows them to refine production and reduce expenses before competing in broader markets.
Deep Roots in Chinese Battery Innovation
Welion’s rapid advancement is rooted in strong connections to China’s leading battery research institutions. Founded in 2016 as a collaboration between the Chinese Academy of Sciences and industry, the company was co-founded by Professor Chen Liquan, a highly respected figure in Chinese lithium battery development. Notably, Chen also mentored Robin Zeng, founder of CATL, the world’s largest battery manufacturer. This pedigree suggests Welion has access to both talent and intellectual property.
Production and Expansion
Welion isn’t just focused on research. The company already supplies batteries to major EV firms like Nio, having delivered 150 kWh semi-solid-state packs in 2023 that enabled a record-breaking 1,044 km range.
With current production capacity at 28.2 GWh, Welion plans to scale up to over 100 GWh annually. Production bases are located in Beijing, Jiangsu, Zhejiang, and Shandong. Full-scale solid-state production is targeted for around 2027.
IPO Plans and Backing
Welion is preparing for an initial public offering (IPO) on China’s Growth Enterprise Market, with CITIC Securities guiding the process. If successful, it would become the first publicly listed pure-play solid-state battery company in China.
The company has secured investments from major capital firms like Sequoia and Hillhouse, as well as tech giants including Huawei, Geely, Xiaomi, and Nio. This level of backing reflects both confidence in Welion’s technology and strategic interest in securing a supply of next-generation batteries.
Welion’s success underscores China’s aggressive push to dominate the battery technology landscape. The race to develop more efficient, safer, and affordable solid-state batteries is intensifying, with implications for electric vehicle adoption, energy storage, and robotics worldwide.
