WeLion Completes RMB 1 Billion Series C3 Financing to Accelerate Battery-as-a-Service Growth

[Fundraising] WeLion has completed a RMB 1 billion Series C3 financing round, bringing its total Series C funding to nearly RMB 2 billion.

Key Metrics: Battery Asset Scale Exceeds 42 GWh, Serving Over 550,000 Users

With 42 GWh of battery assets, over 550,000 users, and RMB 3 billion in total fundraising, WeLion has set a new record in battery asset management financing. Since its establishment in 2020, the company has completed six financing rounds. This round introduced two new state-owned investors—Hefei Construction Investment Group and Hefei Economic Development Zone—joining earlier local government-backed investors such as Haining Economic Development Zone and Chengmai County of Hainan Province, forming strong state-owned institutional backing.

Strategic Foundation: Continued Investment in the Battery-as-a-Service (BaaS) Model

Co-founded by NIO and CATL, WeLion leverages an innovative "vehicle-battery separation" model to build a comprehensive business system encompassing battery leasing, battery swap services, and full-lifecycle digital intelligence management. The proceeds from this round will be primarily allocated to expanding battery asset deployment, advancing technology R&D, and enhancing resource recycling, further strengthening NIO Energy's competitive moat.