On September 13, Tianqi Lithium Corporation (referred to as Tianqi Lithium) signed the Share Subscription Agreement with Smart Brand Global Company (referred to as Smart) in Chengdu. As per the agreement, Tianqi Lithium will invest $150 million in Smart. This cooperation extends beyond the financial aspect, utilizing the information advantages across the upstream and downstream segments of the new energy industrial chain to fully exploit synergies.
The founder and Chairman of Tianqi Lithium, Mr. Jiang Weiping, Vice Chairman Ms. Jiang Anqi, Chairman and President Mr. Xia Juncheng, CEO of Smart, Mr. Tong Xiangbei, CFO of Smart Mr. Dong Lei, and other relevant leaders attended and witnessed the signing ceremony. Mr. Xia Juncheng, on behalf of Tianqi Lithium, and Mr. Tong Xiangbei, CEO of Smart brand global company, signed the subscription agreement.
Mr. Jiang Weiping, Founder and Chairman of Tianqi Lithium, said, "With over 30 years in the lithium industry and a strong commitment to the sustainable development of the lithium-ion battery industry chain, our investment in Smart marks our first foray into the downstream automotive sector. This move enhances our understanding of the new energy industry chain. In the future, Tianqi Lithium will work with our strategic partner to drive lithium-ion battery technology towards low-carbon, eco-friendly, and green solutions. Our aim is to contribute to human civilization's progress and sustainable development."
Mr. Tong Xiangbei, CEO of Smart, stated, "Tianqi Lithium's role as the lead investor in our Series A financing holds significant strategic importance for Smart. With this signing, Smart and Tianqi Lithium have not only entered into a financial partnership but will also fully leverage their information advantages creating synergies that empower robust business development."
Smart is a globally leading provider of intelligent pure electric vehicles, with a well-established worldwide operational, research, and production team. Guided by the forward-looking development strategy of “Dual driving forces, a global layout," Smart's global business footprint is rapidly expanding. In the future, Smart will continue to expand its presence with plans to break into high-potential emerging markets such as Australia, New Zealand, Singapore and Israel.
Tianqi Lithium, as a global leader in lithium-based new energy materials, has been steadfastly committed to harnessing a diverse range of clean energy resources. This partnership agreement will further enhance the company's understanding of the entire new energy industry chain. By advancing cooperation across this entire chain and cultivating mutually beneficial partnerships with downstream enterprises, our goal is to proactively respond to future shifts in the new energy industry. We will harness the synergy between upstream and downstream partners to collectively drive the green, healthy, and sustainable development of the industry chain.
