Mirattery, also known as Wuhan Weineng, has forged a strategic partnership with Chinese electric truck startup Newrizon, aiming to expand its customer base and enhance its battery asset management services.
The partnership between Mirattery and Newrizon encompasses various areas, including battery technology, data intelligence, and asset management, according to statements from both companies.
Mirattery plans to leverage its expertise in battery asset management to enhance the performance and quality of Newrizon’s new energy vehicle products, meeting the increasing demand for efficient and safe battery systems from customers.
Through this collaboration, Mirattery aims to broaden its application scenarios and market reach in battery asset management services.
Established on August 18, 2020, Mirattery received joint investments from prominent entities like CATL, Nio, Guotai Junan, and Hubei Science Technology Investment.
In August 2020, Nio introduced its BaaS (Battery as a Service) battery rental business, with Mirattery appointed as the manager of these rental battery assets.
Customers opting for Nio vehicles under the BaaS model enjoy a reduced purchase threshold of at least RMB 70,000 ($9,670) but are required to pay a monthly fee for the batteries.
Mirattery announced on April 15 this year that the size of its battery assets under management had surpassed the 10 GWh mark, securing over 70 percent share in the battery services market.
Newrizon, founded in September 2020 and backed by Nio Capital, was established by former Nio senior vice president Huang Chendong.
In February 2023, Newrizon disclosed that it had secured over RMB 100 million ($14 million) in Series B+ funding from Nio Capital.
Although Nio Capital and Nio are distinct entities, William Li, founder, chairman, and CEO of Nio, serves as the No. 1-ranked managing partner at the venture capital firm.
Newrizon currently offers two electric commercial vehicle models, the iC1 and EC1, with the iC1 boasting a 5-minute battery swap capability and the ability to fast charge from 0 to 80 percent in 40 minutes.
