Xiaomi invests in Ganfeng lithium battery

Recently, Xiaomi is either buying or on its way. October 12, Jiangxi Ganfeng Lithium Technology Co., Ltd. (Ganfeng Lithium) newly added shareholders, including Hubei Xiaomi Yangtze River Industrial Fund Partnership (limited partnership).

According to public data, Ganfeng Lithium Power was established in June 2011, and its main business includes the R & D, production and sales of lithium-ion power cells, fuel cells and energy storage batteries.

In June this year, Chery New Energy A00 class new car Costinec1, which is equipped with Ganfeng LFP battery, officially entered the new car announcement, becoming the first passenger car equipped with Ganfeng power battery. In July, Gan Feng signed a contract with the Technology Center of Dongfeng Company to discuss the demonstration and operation cooperation of solid-state battery and signed an agreement on the demonstration and promotion of solid-state battery E70 models.

In fact, this is not the first time Xiaomi has invested in Ganfeng Lithium Power. On July 31, Ganfeng Lithium Industry disclosed that it plans to increase its holding subsidiary Ganfeng Lithium Power by 2 billion yuan, while Xiaomi Investment and other investment institutions plan to increase its capital by 971 million yuan.

In fact, before and after Guanxuan built the car, Xiaomi has invested in lithium battery enterprises many times. In August, Honeycomb Energy Technology Co., Ltd. experienced industrial and commercial changes, adding Xiaomi Yangtze River Industrial Fund and other shareholders. At the end of July, Xiaomi participated in the B-round financing of Honeycomb Energy with 10.28 billion yuan. At the end of last year, AVIC Lithium completed the Pre-A round of financing, with investors including Xiaomi Changjiang Industrial Fund, while Xiaomi actually invested in Zhuhai Guanyu as early as 2017, and Hubei Xiaomi currently holds a 4.3 per cent stake in Zhuhai Guanyu, making it its fifth largest shareholder.

In terms of investing in power batteries, on the one hand, Xiaomi is targeting potential tracks to achieve long-term value gains by investing in growth companies; on the other hand, for the automotive industry, core components, including power batteries, are an indispensable part of building a complete ecological chain.