Tianqi Lithium Industries Invests $150 Million in Smart for Joint Venture
On September 13th, Tianqi Lithium Industries announced that it had signed a “Share Subscription Agreement” with global automotive brand smart in Chengdu, China. Under this agreement, Tianqi Lithium Industries will invest $150 million in smart, marking a significant step in the development of their partnership. This collaboration goes beyond mere financial investment, as both companies intend to leverage their strengths in the new energy industry chain to enhance synergy.
Deepening Cooperation in New Energy:
Mr. Jiang Weiping, Founder and Chairman of Tianqi Lithium Industries, expressed, “With over 30 years of experience in the lithium industry, Tianqi Lithium Industries has been deeply committed to the sustainable development of the lithium battery industry. Investing in the smart brand represents our first connection with the downstream automotive sector of the industrial chain. It will further deepen our understanding of the new energy industry chain. In the future, Tianqi Lithium Industries will work hand in hand with strategic partners to promote the transformation of lithium battery electric vehicle technology towards low carbon, environmental friendliness, and green sustainability, contributing to human civilization progress and sustainable development.”
Strategic Significance for Smart:
Mr. Tong Xiangbei, CEO of smart Global Corporation, stated, “Tianqi Lithium Industries leading our Series A financing has strategic significance for smart. This agreement not only involves financial cooperation but also leverages the information advantages of both parties in the upstream and downstream of the industrial chain to achieve industrial synergy. It empowers our business for robust growth.”
Smart’s Global Expansion:
Smart is a global intelligent pure electric vehicle technology brand with established operational, research and development, and production teams worldwide. Following a forward-looking development strategy of “dual cores in China and Europe and global expansion,” smart is rapidly expanding its global footprint. In the future, smart plans to continue expanding into high-potential emerging markets such as Australia, New Zealand, Singapore, and Israel, following its “southward and westward” strategy.
It’s noteworthy that smart’s main shareholders are Geely Holding Group and Mercedes-Benz. On the same day, Tianqi Lithium Industries and Mercedes-Benz formally signed a memorandum of understanding, laying a solid foundation for potential cooperation in the field of electrification. Additionally, they signed a strategic cooperation agreement with Geely Holding Group, aiming to fully leverage each other’s strengths to explore new growth opportunities and bring more innovation and development to the new energy field.
Future Directions for Tianqi Lithium Industries:
In the future, Tianqi Lithium Industries will continue its strategic deployment along the new energy value chain, focusing on new energy materials and next-generation battery technology manufacturers, including solid-state batteries. They plan to establish deeper partnerships in areas such as precursor production and battery recycling and will explore investment opportunities in the electric vehicle and energy storage application sectors. Tianqi Lithium Industries is actively participating in downstream investment to prepare for better utilization of lithium in future trends in new battery applications.
The collaboration between Tianqi Lithium Industries and smart is expected to enhance their respective positions in the new energy sector and contribute to the advancement of electric vehicle technologies and sustainable transportation solutions.
Tianqi Lithium Industries’ strategic investment in smart demonstrates the company’s commitment to expanding its footprint in the electric vehicle industry and the broader new energy sector. This partnership between a prominent lithium industry player and an innovative electric vehicle brand is poised to drive advancements in electric mobility and sustainable energy solutions, ultimately contributing to a greener and more sustainable future.