Recently, Tianqi Lithium announced that on May 20 its fully owned subsidiary Tianqi Chuangli signed a cooperation agreement with Welion New Energy. The two sides plan to set up a joint venture focusing upon research, production and selling of pre-lithiation anode material, lithium metal anode and Li-based anode material, pre-lithiation reagent (raw material) and pre-lithiation production equipment. Tianqi Chuangli plans to invest RMB10.2 million (USD1.52 million), equivalent to 51% of the joint venture's registration capital.