Recently, Phylion Battery received a new strategic investment, led by Shenzhen Capital Group's Manufacturing Transformation and Upgrading of New Materials Fund (limited partnership) of 950 million yuan, and the total financing amount of this round is expected to reach 1.5 billion yuan.
Shenzhen Capital Group's Manufacturing Transformation and Upgrading of New Materials Fund is a specific investment carrier of the national manufacturing transformation and upgrading fund. Undertaking the investment task in the field of new materials, mainly inorganic nonmetals and cutting-edge new materials, it, based on the new material industry, adopts a comprehensive investment strategy of strategic and financial investment, and deeply explores investment projects in new materials, promoting the transformation, upgrading and high-quality development of the national manufacturing industry.
Established in 2003, Phylion Battery Co.,Ltd., a well-known high-tech enterprise of power lithium battery in China, with a production capacity of 10.2GWh in 2022, owns multiple power battery production lines with manganese multi-lithium composite as the core. After 18 years of development, Phylion Battery has developed a global industrial layout, with two production bases in Suzhou and Chuzhou, and two subsidiaries in Europe and India. Its products are mainly used in new energy fields such as E-Bikes, electric vehicles, commercial tricycles, low-speed four-wheelers, and communication energy storage.
In the field of light electric vehicles, Phylion's lithium batteries are exported to 22 countries and regions such as Germany and France. In October 2021, its global cumulative sales exceeded 21 million units, leading the world for four consecutive years.
In the field of electric vehicles, Phylion Battery has cooperated with Dongfeng, Chang'an, Chery, Geely, Ruichi, Wuling and FAW to provide power source for more than 170,000 electric vehicles. In 2020, Phylion's products have been supproting the popular electric vehicle Wuling Hongguang Mini EV, serving as its core supplier of lithium batteries.
As the first enterprise to popularize lithium manganese on a large scale and the leading enterprise in its application in China, Phylion Battery continues to improve its technological innovation ability, continuously dig into the extreme performance of lithium manganese battery, and create a technical route with manganese multi-lithium composite as the core.
On August 9, 2021, Phylion Battery and Tianmu Lake Institute of Advanced Energy Storage Technologies jointly established the "Binary-star United Lab" to carry out research on the "development project of lithium manganese material and battery technology with high temperature resistance, long life and high safety". In November of the same year, Phylion Battery won the second prize of Science and Technology Progress Anhui Provincial for "quasi-solid-state high temperature and long life lithium manganese battery technology and industrialization project".
In more subdivided fields or special application scenarios, Phylion complements the formation technology of manganese multi-lithium composite with a mature "high-energy iron lithium".
After obtaining this round of financing, Phylion Battery will accelerate the multi-demensional innovation in technology strategy, product strategy, business strategy and other aspects, which is conducive to the company's lithium battery technology innovation and industrialization, carry out multi-scenario product layout, and deeply integrate into the whole lithium battery industry chain to develop power exchange and recycling business, and create more value for the lithium battery industry.