Beijing Weilan New Energy Technology Valuation, Funding & Investors

Beijing Weilan New Energy Technology is valued at $2.4B as of March 2022.

Last Beijing Weilan New Energy Technology valuation

$2.4B

Undisclosed stage · Mar 2022

Last Beijing Weilan New Energy Technology funding round

$209M

Series D · Nov 2022

Cumulative funding Beijing Weilan New Energy Technology raised

$303M

across 3 funding rounds

Key investors in Beijing Weilan New Energy Technology

  • Shunwei Capital
  • IDG Capital
  • Xiaomi
  • NIO Capital
  • Geely
  • Huawei

Beijing Weilan New Energy Technology Overview

About Beijing Weilan New Energy Technology

Beijing Weilan New Energy Technology is a Beijing-headquartered developer of next-generation all-solid-state batteries. Established in 2016, the company holds key patents for solid-state battery cores and employs a leading technology team. Known as WeLion, it advances production of high-energy-density cells for electric vehicles and energy storage applications.


Founded

2016

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2.4B (Mar 2022)

Beijing Weilan New Energy Technology Valuation

Beijing Weilan New Energy Technology is currently valued at $2.4B, based on its undisclosed-stage round in March 2022.

The $16M round included Shunwei Capital, Hubei Xiaomi Changjiang Industrial Investment Fund Management and Geely.

Beijing Weilan New Energy Technology's valuation has grown 3.3x from $725M at its Series C in November 2021 to $2.4B in March 2022, across 2 priced rounds.

Beijing Weilan New Energy Technology valuation by funding round

Beijing Weilan New Energy Technology valuation by funding round
DateStageValuation
Mar 2022Undisclosed stage$2.4B
Nov 2021Series C$725M

Beijing Weilan New Energy Technology Funding History

Beijing Weilan New Energy Technology has raised a total of $303M across 3 funding rounds.

Beijing Weilan New Energy Technology's first fundraising round was a $78M Series C in November 2021. The most recent completed round was a $209M Series D in November 2022.

Beijing Weilan New Energy Technology funding rounds

Beijing Weilan New Energy Technology funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2022Series DChengtong Mixed Reform (lead)$209M-Beijing WeLion New Energy Technology is a China-based developer of solid-state and semi-solid-state lithium batteries founded in 2016, emerging from the Chinese Academy of Sciences' Institute of Physics. The company's founding team includes Professor Chen Liquan, known as the father of Chinese lithium batteries and doctoral advisor to CATL founder Robin Zeng. WeLion has achieved significant technological breakthroughs, including laboratory demonstration of 824 Wh/kg energy density in solid-state batteries with targets exceeding 1000 Wh/kg, positioning it as a leader in next-generation battery technology. The company is best known as a semi-solid-state battery supplier to NIO, delivering the first batch of 360 Wh/kg semi-solid-state battery cells in June 2023 for use in NIO's 150-kWh battery pack. WeLion has completed nine financing rounds with an impressive shareholder base including state-owned capital (Chengtong Mixed Ownership Reform Fund, SDIC Chuangyi, CITIC Securities Investment) and industrial capital from NIO Capital, Xiaomi Yangtze River Industry Fund, Huawei Hubble Investment, Geely Holding, Sequoia, and Hillhouse. The Series D round was led by Chengtong Mixed Ownership Reform Fund at a size of CNY1.5 billion (~USD206 million). WeLion has established four industrial bases across China with current annual production capacity of 28.2GWh and plans exceeding 100GWh, with a Pingshan facility targeting mass production of all-solid-state batteries around 2027. As of December 2025, the company initiated pre-IPO tutoring work with CITIC Securities, targeting a listing on China's ChiNext Growth Enterprise Market, and was valued at 18.5 billion RMB (approximately USD2.5 billion) on the 2025 Hurun Global Unicorn List, positioning it to become the first pure-play solid-state battery company to go public in China.
Mar 2022Undisclosed stageShunwei Capital; Hubei Xiaomi Changjiang Industrial Investment Fund Management; Geely$16M$2.4BBeijing Weilan New Energy Technology (WeLion) develops semi-solid-state and all-solid-state batteries, supplying Nio with 150-kWh packs and partnering with Geely. The company, founded in 2016 and based in Beijing, operates production bases in Fangshan (Beijing), Liyang (Jiangsu), Huzhou (Zhejiang), and Zibo (Shandong). In March 2022, affiliates of Hubei Xiaomi Changjiang Industrial Investment Fund Management, Huawei, and Shunwei Capital became shareholders, confirming an August 2021 investment that valued the company at RMB 5 billion. WeLion's valuation reached 15 billion yuan ($2.36 billion) by late March 2022 amid heightened investor interest following Nio's solid-state battery announcements. The firm plans mass production of hybrid solid-liquid electrolyte batteries with Nio and Geely, targeting 1,000 km range, and is expanding production capacity across its bases.
Nov 2021Series CChina Reform Securities; Xiaomi; IDG Capital; Shunwei Capital; Huawei; NIO Capital$78M$725MBeijing Weilan New Energy Technology (WeLion) develops and manufactures solid-state and semi-solid-state lithium batteries, incubated by the Key Laboratory for Renewable Energy of the Chinese Academy of Sciences. Founded in 2016 and headquartered in Beijing, the company supplies batteries to Nio for electric vehicles, as well as drones, robots, portable power supplies, and energy storage systems. It holds numerous patents and passed IATF16949 certification in 2020, with production bases in Beijing, Shandong, Jiangsu, and Zhejiang. In August 2021, WeLion raised CN¥500 million (approximately US$78 million) from investors including Hubei Xiaomi Yangtze River Industry Investment Fund (Xiaomi), Shenzhen Hubble Technology Investment Partners (Huawei), and Ningbo Geely Blue Initiative (Geely). This investment valued the company at CN¥5 billion (about US$780 million). WeLion has expanded manufacturing capacity significantly, including an 8 GWh solid-state battery plant in Fangshan, Beijing (2025), a 20 GWh Phase 1 semi-solid/solid-state facility in Zibo, Shandong (completed September 2023, total 100 GWh planned), and a 0.2 GWh plant in Liyang, Jiangsu (2020). It delivered its first 360 Wh/kg semi-solid-state cells to Nio in June 2023 for the 150 kWh ET7 pack, which entered limited service in 2024. As of late 2025, WeLion began pre-IPO tutoring with China Securities for a ChiNext listing, signaling growth ambitions amid solid-state battery market expansion.

Who has invested in Beijing Weilan New Energy Technology?

9 investors have backed Beijing Weilan New Energy Technology across its funding rounds, including Shunwei Capital, IDG Capital, Xiaomi, NIO Capital, Geely and Huawei.

Lead investors include Chengtong Mixed Reform.


Beijing Weilan New Energy Technology Investors

Investors in Beijing Weilan New Energy Technology by funding rounds participated
InvestorHQRoundsRoleFirst check
Shunwei CapitalChinaBeijing2ParticipantNov 2021
Chengtong Mixed ReformChinaChina1LeadNov 2022
China Reform SecuritiesChinaChina1ParticipantNov 2021
XiaomiChinaBeijing1ParticipantNov 2021
IDG CapitalChinaBeijing1ParticipantNov 2021
Hubei Xiaomi Changjiang Industrial Investment Fund ManagementChinaHubei1ParticipantMar 2022
HuaweiChinaShenzhen1ParticipantNov 2021

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Investments by Beijing Weilan New Energy Technology

Beijing Weilan New Energy Technology has invested in 1 company to date.

Latest investment by Beijing Weilan New Energy Technology was on November 13th 2025. Beijing Weilan New Energy Technology invested in Yaoshi Lithium Battery in their Series A round.


Latest Investments by Beijing Weilan New Energy Technology

Yaoshi Lithium Battery
Description
Yaoshi Lithium Battery is a China-based company advancing solid-state battery technology.
HQ CountryChina
HQ City
-
Deal Date13 Nov 2025
RoundSeries A
Raisedundisclosed
InvestorsSummitview Capital; Tianmu Lake Energy Storage; Yaoqi Energy; Kunpeng Capital; Guoke Pinghe
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Beijing Weilan New Energy Technology Competitors

Beijing Weilan New Energy Technology competitors include listed companies like Shanghai Belling, Himax and Xanadu, and private ones like Hithium Energy Storage, Nyobolt and Skeleton Technologies.

Public and private companies comparable to Beijing Weilan New Energy Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hithium Energy StorageChinaXiamenPrivate--$4.2B-
NyoboltUnited KingdomCambridgePrivate$9M-$1B-
Skeleton TechnologiesEstoniaEstoniaPrivate$10M-$1B100.0x
Shanghai BellingChinaChinaPublicly listed$473M$44M$2.4B-
HimaxChinaChinaPublicly listed$832M$71M$2.4B2.9x
XanaduCanadaCanadaPublicly listed$3M($47M)$2.3B281.8x

Beijing Weilan New Energy Technology Public Comps

Beijing Weilan New Energy Technology is still privately-owned, but its public comps include Shanghai Belling, Himax, Xanadu, Inari Amertron, Fadu, Voltronic Power, Kitron, Liontown, Chengdu Sino and AEM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Shanghai Belling$473M$44M4.7x-51.0x-
Himax$832M$71M3.2x2.9x37.8x41.0x
Xanadu$3M($47M)629.3x281.8x(44.6x)(24.7x)
Inari Amertron$290M$51M6.7x6.3x37.8x28.1x
Fadu$67M($47M)34.2x11.7x(49.5x)69.7x
Voltronic Power$644M$141M3.4x3.4x15.8x16.9x
Kitron$850M$96M2.7x2.0x24.4x16.8x
Liontown$455M$103M5.0x4.3x21.8x14.6x

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Common questions about Beijing Weilan New Energy Technology

When was Beijing Weilan New Energy Technology founded?Beijing Weilan New Energy Technology was founded in 2016.
Where is Beijing Weilan New Energy Technology headquartered?Beijing Weilan New Energy Technology is headquartered in Beijing, China.
Is Beijing Weilan New Energy Technology publicly listed?No, Beijing Weilan New Energy Technology is a private, VC-backed company.
What is Beijing Weilan New Energy Technology's valuation?Beijing Weilan New Energy Technology was last valued at $2.4B in its undisclosed-stage round in March 2022.
How much funding has Beijing Weilan New Energy Technology raised?Beijing Weilan New Energy Technology has raised $303M across 3 funding rounds.
What was Beijing Weilan New Energy Technology's last funding round?Beijing Weilan New Energy Technology's last funding round was a $209M Series D in November 2022, led by Chengtong Mixed Reform.
Who are Beijing Weilan New Energy Technology's investors?Beijing Weilan New Energy Technology's investors include Shunwei Capital, Chengtong Mixed Reform, China Reform Securities, Xiaomi, IDG Capital, Hubei Xiaomi Changjiang Industrial Investment Fund Management, Huawei, Geely and NIO Capital.
Which companies are comparable to Beijing Weilan New Energy Technology?Companies comparable to Beijing Weilan New Energy Technology include Hithium Energy Storage, Nyobolt, Skeleton Technologies, Shanghai Belling, Himax and Xanadu.
How many companies has Beijing Weilan New Energy Technology invested in?Beijing Weilan New Energy Technology has invested in 1 company, including Yaoshi Lithium Battery.
What was Beijing Weilan New Energy Technology's last investment?In November 2025, Beijing Weilan New Energy Technology invested in Yaoshi Lithium Battery's Series A alongside Summitview Capital, Tianmu Lake Energy Storage, Yaoqi Energy and 2 other investors.

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