The company is headquartered in the Beijing's Fangshan District, and is a spinoff from the Laboratory of Renewable Energy of the Institute of Physics of the Chinese Academy of Sciences.

The aim of the joint venture is to develop, produce and sell lithium anode materials, and manufacturing equipment and ingredients for battery pre-lithiation processes.

[8][9] In April 2022, WeLion signed a five-year agreement with Ronbay Technology for the supply of at least 30,000 tons of battery cathode materials.

The agreement stipulates that Ronbay will be WeLion's primary supplier of high-nickel cathode materials for use in NMC chemistry solid-state batteries.

[1][10] On April 22, 2024 WeLion and JAC signed an agreement for the supply of semi-solid state battery cells for use in Yiwei brand cars.

The project is run by state-owned Power China, and is eventually planned to have a 400 MWh capacity and 200 MW output on the 40-acre site.

The cells use a semi-solid state electrolyte, and have an energy density of 360 Wh/kg, and are used in a 150 kWh swappable battery pack made by Nio.