Yinlong

Yinlong New Energy Co., Ltd. is a comprehensive new energy industry group integrating the R&D, production, and sales of core lithium titanate materials, power batteries, motor and electronic control systems, charging equipment, smart energy storage systems, and pure electric vehicles. With the new energy industry as its core, the company aims to build a closed-loop circular system covering materials, batteries, powertrains, automobiles, and energy storage. Headquartered in Zhuhai, Guangdong, it owns multiple industrial bases in Handan (Hebei), Shijiazhuang (Hebei), Tianjin, Chengdu, Nanjing, Lanzhou, and other locations. It is one of the few enterprises globally capable of producing both lithium iron phosphate batteries and lithium titanate batteries.

Development History

Yinlong New Energy's predecessor can be traced back to the Yintong Group founded in 2004, initially located in Zhuhai, Guangdong. Yinlong New Energy Co., Ltd. was officially established in 2008, beginning a systematic layout in the new energy field. In 2010, the company strategically acquired American Otium Nanotechnology Co., Ltd., mastering the core technology of globally leading lithium titanate materials and establishing a differentiated technical route. In 2015, Yinlong New Energy acquired the American Auburn Hills automobile plant, further expanding its overseas market layout. In 2016, the company's developed nano lithium titanate power battery technology was recognized as "internationally leading"; the same year, it won the United Nations Industrial Development Organization's "Global Renewable Energy Most Valuable Leading Technology Blue Sky Award." At the end of 2016, Gree Electric Chairman Dong Mingzhu, in a personal capacity, jointly invested in Yinlong New Energy with Wang Jianlin, Liu Qiangdong, and others, and Dong Mingzhu became the company's second-largest shareholder. From 2017 to 2018, the company successively launched two passenger vehicle models, the Guangtong SUV and the Aifei MPV. In 2018, Yinlong New Energy's bus annual sales reached 7,278 vehicles, ranking third in the industry. That same year, the company received the Ministry of Industry and Information Technology's "Green Factory" title and was included in the Global New Energy Enterprise 500 list for four consecutive years.

In August 2021, Gree Electric publicly bid at a judicial auction and acquired 30.47% equity of Yinlong New Energy for 1.828 billion RMB. Dong Mingzhu entrusted Gree Electric to exercise the voting rights corresponding to her held 17.46% equity. Gree Electric collectively controlled 47.93% of the voting rights of Yinlong New Energy, and Yinlong New Energy officially became a holding subsidiary of Gree Electric. In December 2023, Gree Electric increased its holding in Yinlong New Energy shares to 55.01%, collectively controlling voting rights up to 72.47%. In January 2023, Hebei Yinlong New Energy Co., Ltd. was renamed Hebei Gree Titanium New Energy Co., Ltd. As of now, the company's registered capital is approximately 1.103 billion RMB, with patent information reaching nearly 4,000 items.

Product Portfolio

Yinlong New Energy's bus products have a certain market position in the domestic market. In 2018, the company's new energy bus sales reached 7,278 vehicles, ranking third in the industry. From January to July 2021, Yinlong New Energy's cumulative bus sales ranked fourth in the industry, with July sales of 7-meter-plus new energy buses ranking third in the industry. Buses using lithium titanate power batteries, due to their fast charging and high safety characteristics, have been widely deployed in cities such as Beijing, providing support for green transportation system construction. However, affected by internal management issues, the withdrawal of subsidy policies, and other factors, the company's operating performance was under pressure at one point. In 2020, Yinlong New Energy achieved operating income of 4.325 billion RMB but reported a loss. After Gree Electric took over as the holding shareholder in 2021, the company's operations gradually stabilized. As of now, Gree Electric's cumulative investment in Yinlong New Energy and the scale of its associated debt burden are relatively large, and the company has not yet fully achieved profitability.

Market Performance

Yinlong New Energy's bus products have a certain market position in the domestic market. In 2018, the company's new energy bus sales reached 7,278 vehicles, ranking third in the industry. From January to July 2021, Yinlong New Energy's cumulative bus sales ranked fourth in the industry, with July sales of 7-meter-plus new energy buses ranking third in the industry. Buses using lithium titanate power batteries, due to their fast charging and high safety characteristics, have been widely deployed in cities such as Beijing, providing support for green transportation system construction. However, affected by internal management issues, the withdrawal of subsidy policies, and other factors, the company's operating performance was under pressure at one point. In 2020, Yinlong New Energy achieved operating income of 4.325 billion RMB but reported a loss. After Gree Electric took over as the holding shareholder in 2021, the company's operations gradually stabilized. As of now, Gree Electric's cumulative investment in Yinlong New Energy and the scale of its associated debt burden are relatively large, and the company has not yet fully achieved profitability.

Core Technology

Yinlong New Energy's most differentiated core technology is its lithium titanate battery technology, which the brand names "Yinlong Titanium." Lithium titanate batteries use lithium titanate as the anode material and feature four core advantages: first, fast charging—they can achieve a 6-minute fast charge/discharge; second, ultra-long lifespan—their cycle charge-discharge life can reach 30,000 cycles, with a service life of up to 30 years; third, wide temperature tolerance—their operating temperature range covers -50°C to 60°C, adapting to various extreme climates; fourth, high safety—they do not catch fire or explode after destructive experiments such as sharp needle piercing and sharp saw cutting. In 2016, the company successfully developed hydrogen-titanium powertrain technology composed of a "hydrogen fuel cell power generation system plus lithium titanate power battery pack," combining advantages such as high range, strong power, and zero-emission operation. In terms of technology iteration, the company has developed a fourth-generation high-energy-density lithium titanate battery. In March 2025, Yinlong New Energy obtained a patent for "Silicon-based Anode Material, Preparation Method Thereof, and Lithium-ion Battery," indicating the company is exploring new technical paths to improve battery energy density.

Global Presence

Yinlong New Energy actively expands into overseas markets, and its products have entered many regions, including the Middle East, Europe, and the Americas. The company once acquired an automobile plant in Auburn Hills, USA, as an overseas production base. In the Middle East region, Yinlong New Energy's pure electric buses officially entered Abu Dhabi, the capital of the United Arab Emirates, becoming the first fast-charging lithium titanate battery environmentally friendly buses launched in that region. The company also actively participates in "Belt and Road" cooperation and exhibits its new energy products at the China-Arab States Expo. In addition, Yinlong New Energy's micro-buses, equipped with Yuchai's range-extender system, have been successfully delivered to users in Macau.

Future Outlook