In August 2026, WeLion New Energy is valued at ¥20 billion. This year has turned solid-state batteries into a capital hotspot, with WeLion (¥20B), QingTao Energy (¥27.9B), and ProLogium ($3.8B) all rushing to go public, vying for the title of “first solid-state battery listed company.” Meanwhile, valuations among already-listed global players show sharp divergence – QuantumScape (QS) trades at about $3.3 billion, while Solid Power (SLDP) languishes at just $465 million.

Against the backdrop of the United States accelerating the build-out of its domestic battery supply chain while continuing to depend on foreign sources for critical minerals, the U.S. Department of Commerce's Bureau of Industry and Security (BIS) issued an interim final rule on August 5, 2026, imposing export controls on certain recycled battery materials. The most impactful measure is a temporary export restriction on black mass — an intermediate product of lithium battery recycling.

Against the backdrop of the US accelerating the build-out of its domestic battery supply chain while facing persistent reliance on foreign sources for critical minerals, the Bureau of Industry and Security (BIS) of the US Department of Commerce issued an interim final rule on August 5, 2026, imposing export controls on certain recycled battery materials. The most impactful measure is the temporary export restriction on black mass, an intermediate material from lithium battery recycling. Rather than a complete cutoff of lithium battery-related material exports, this move precisely targets recycled stage products rich in lithium, cobalt, and nickel, aiming to intercept at the source the rapidly growing domestic pool of retired battery resources.

Shanghai Metals Market (SMM) is thrilled to announce that the 2026 SMM Global Lead-Acid Battery Supply Chain Industry Conference (LABC 2026) is scheduled to be held on November 23-24, 2026, in Ho Chi Minh City, Vietnam. As stakeholders across the global lead industry set their sights on Southeast Asia, one under‑rated factor flies under the radar: the Middle East has quietly grown into an unseen game‑changer reshaping worldwide non‑ferrous metal recycling. It serves as a major global hub for scrap metal trading, a multi‑continental logistics nexus linking Asia, Africa and Europe. In addition, Saudi Arabia’s Vision 2030 has unlocked massive volumes of industrial dismantling waste from its trillion‑dollar infrastructure upgrade drive. With waste volumes surging annually and well‑established recycling infrastructure in place, slag reprocessing and high‑value material recovery are no longer mere laboratory‑scale projects. Instead, they have become make‑or‑break profit drivers for market participants. We are honoured to welcome our distinguished speaker Jawed Ahmed , Founder and CEO of Al Qaryan International DMCC and a seasoned industry operator with over 20‑year‑long experience within Middle‑Eastern markets. He will deliver a keynote speechd: Global Lead Circular Economy: Slag Recycling & High-Value Utilization by MENA’s Top Non-Ferrous Recycle . For the very first time, Jawed will conduct a comprehensive breakdown covering three core topics: The recycling‑network layout and graded‑value utilisation framework for spent lead‑acid batteries and smelter slag across the Middle‑East region How Middle‑Eastern recyclers achieve full‑scale recovery of usable substances out of slag via technology investment, operating next‑door to Europe with its stringent environmental‑protection benchmarks How Middle‑Eastern expertise can deliver replicable cooperation frameworks for the embattled Southeast‑Asian lead industrial chain Join us in Ho Chi Minh City and hear hard‑earned, on‑the‑ground expertise on slag‑based resource recovery from one of the Middle East's top-tier players. Stay tuned!

In 2026, as restored lithium iron phosphate (LFP) capacity expands from 150,000–160,000 tons to 170,000–180,000 tons, traditional hydrometallurgical LFP recycling companies are facing a wave of profit and competitive landscape reshaping driven by rivalry between different technological routes.

Zimbabwe exported US$782 million worth of lithium products in the first half of 2026, representing a 230% year on year increase from US$237 million in H1 2025, according to Finance Minister Mthuli Ncube during the country's mid-year budget review. Lithium accounted for approximately 12% of Zimbabwe's total mineral export revenue, ranking behind only gold and platinum group metals (PGMs), further strengthening its position as one of the country's key export commodities. The government expects lithium's contribution to increase further following the April 2026 commissioning of Zimbabwe's first lithium sulphate plant, marking a significant step in the country's strategy to move up the battery materials value chain. Zimbabwe continues to require foreign investors, particularly Chinese mining companies, to expand downstream processing capacity within the country. As part of its beneficiation policy, Zimbabwe plans to ban lithium concentrate exports from January 2027, encouraging producers to export higher-value processed lithium products instead. According to the Ministry of Finance, 2026 lithium production is forecast at 2.14 million metric tons, slightly below the 2.2 million metric tons produced in 2025. Earlier this year, Zimbabwe temporarily suspended lithium concentrate exports in February, citing irregularities and leakages in export activities. Official data also showed Zimbabwe exported 1.13 million metric tons of lithium products in 2025, suggesting inventories have accumulated at several mining operations as export restrictions and processing capacity continue to evolve. Zimbabwe's lithium sector remains dominated by major Chinese investors, including Zhejiang Huayou Cobalt, Sinomine Resource Group, Chengxin Lithium Group, Sichuan Yahua Industrial Group, and Tsingshan Holding Group, all of which have invested heavily in Zimbabwe's mining and downstream lithium processing projects. SMM Analysis: Zimbabwe is accelerating its transition from a lithium concentrate exporter to a battery materials producer through export restrictions and mandatory local beneficiation. While near-term concentrate exports may remain constrained, expanding domestic conversion capacity is expected to increase exports of higher-value lithium chemicals, reinforcing Zimbabwe's strategic role in the global EV battery supply chain.

In 2026, the global lead-acid battery industry maintains steady growth, holding irreplaceable advantages in starting, industrial, and energy storage applications. Secondary lead has become the core raw material supply, and green recycling and compliant manufacturing have become the industry baseline. The global industry chain is accelerating its shift to Southeast Asia, where Vietnam, leveraging its motorcycle and automobile ownership, manufacturing supporting facilities, and trade facilitation advantages, has become a strategic hub for lead smelting, battery production, and recycling. Meanwhile, the lead industry chain faces multiple challenges such as raw material supply-demand balance, international trade compliance, upgrading environmental standards, iteration of advanced lead battery technologies, supply chain security, and cost control. To build a global lead industry exchange and cooperation platform and promote collaborative innovation across the entire chain of lead ore, primary lead, secondary lead, lead-acid batteries, equipment, and auxiliary materials, the 2026 SMM Global Lead-Acid Battery Supply Chain Innovation Conference is set to take place in Ho Chi Minh City. SMM, in partnership with Hunan Ruiyi Resources and Environment Technology Co., Ltd. , invites you to join the conference. The event will focus on industrial policies, market trends, technological upgrades, circular economy, and the joint development of the global supply chain, helping enterprises seize opportunities and achieve win-win collaboration. Click to register now for the conference, and join us in witnessing and participating in this extraordinary and far-reaching industry event, creating a brilliant new chapter together! Hunan Ruiyi Resources and Environment Technology Co., Ltd. is an "industry-academia-research-application" cooperation partner of Central South University. Relying on the Institute of Resource Recycling and Environmental Engineering of Central South University, the company primarily engages in technology development and transformation, technical consulting services, process and plant design, equipment manufacturing, and engineering contracting in fields such as clean and efficient utilization of secondary non-ferrous metal resources, comprehensive recovery and safe disposal of heavy metal and arsenic-containing hazardous waste, and extraction. The company focuses on technology R&D and promotion in the hazardous waste disposal industry. With side-blown furnaces, pure oxygen converters, low-temperature pyrolysis furnaces, electric furnaces, and fuming furnaces as core equipment, it enhances metal recovery rates, saves energy, and reduces emissions in the secondary lead recycling industry, the comprehensive recovery and safe disposal of copper scrap, the vitrification of fly ash and residues from municipal solid waste and hazardous waste incineration, and the comprehensive recovery and safe disposal of heavy metal and arsenic-containing hazardous waste, thereby meeting the growing needs of clients; the company has an R&D and design engineering team centered on professors and senior engineers, bringing together talented professionals from metallurgical production and management, environmental protection, plant design, mechanical manufacturing, automation, electrical engineering, and other fields. It possesses full-chain service capabilities from technical consulting to furnace operation in the areas of secondary lead, copper scrap recycling, secondary zinc, and arsenic-containing hazardous waste disposal. In the R&D and manufacturing of side-blown furnaces and the aforementioned resource recycling fields, it holds over 90 invention patents and utility model patents. RE Technology Co., Ltd. (referred to as RE TECH) is a cooperative high-techcompany (industry-institute-research) affiliated with Central South University, whose metallurgy department is one of the most prestigious in the world. With independent patented oxygen-enriched side-blowing furnace as the core equipment which have widely applied in lead recvcling industry and have won a lot of awards because of its innovative technology, we also have the ability to design the entire plant, and design and fabricate the essential equipment including side-blowing furnace, rotary furnace, blast furnace, convert, electrical furnace, fuming furnace and other equipment. In our role as the leading engineering company in lead recycling, we continue to invest in upgrading equipment and processes to meet the ever-increasing requirement of the industry, including improving metal recovery rates, reducing emissions, and treating materials more efficiently. We are expanding our field from lead to copper, nickel,zinc, tin, antimoney etc. to ensure that nonferrous secondary resources are reused efficiently and cleanly, heavy metals and arsenic-containing hazardouswastes are reecovered and disposed safely. Professors, experts and engineers make up the RE TECH team, whose majors include metallurgy, environmental protection, mechanical, automation, electrical and otherdisciplines. With more than 90 patents, the team is capable of providing consulting, engineering, equipment fabrication, installation, commissioning, and operation services to our respected clients. Contact Tel: 0731-82850226 Email: info@rezh.net Website: http//www.hnrezh.com Address: No. 19 Ziyuan Road, Yuelu District, Changsha, Hunan Province Long press and scan to register now 2026 SMM Global Lead-Acid Battery Supply Chain Industry Conference

On the evening of July 30, Xiaomi Auto held its second technology conference, officially unveiling the new "Kunlun Technology Architecture" and introducing two extended-range SUVs from the Pengcheng series—the flagship seven-seat N90 Max (presale price 299,900 yuan) and the five-seat N70 Max (presale price 259,900 yuan). This marks Xiaomi Auto's formal entry into the extended-range segment, forming a dual-line product landscape alongside the pure electric SU7/YU7 series. Both new models are set to be officially launched and delivered in September, with the entry-level N70 expected to reach the 200,000 yuan price range. Based on the information released at the conference, the Pengcheng series demonstrates a clear "large-battery extended-range" approach in battery configuration. The N70 Max offers a CLTC pure electric driving range of up to 505 km, while the N90 Max delivers a combined range of 1,705 km. Its 76 kWh battery capacity places it in the top tier among extended-range models. Lei Jun emphasized at the conference that 70% of Xiaomi car owners drive no more than 400 km per week, meaning that the 505 km pure electric range allows most users to treat the vehicle as a full EV in daily use, with the range extender intervening only during long-distance trips. In terms of power, both models are equipped with a 1.5T four-cylinder range extender paired with dual-motor all-wheel drive. The N90 Max accelerates from 0 to 100 km/h in 5.9 seconds, while the N70 Max takes just 5.5 seconds. WLTC fuel consumption under battery depletion is 6.26 L/100 km and 6.1 L/100 km, respectively, balancing performance and efficiency. This product definition aligns closely with the "large-battery" trend in the 2026 extended-range market—60 kWh-plus has become standard for mid-to-high-end extended-range vehicles, and some models have already exceeded 80 kWh. The large-battery strategy directly boosts demand for ternary lithium batteries in the extended-range segment, creating new shipment growth opportunities for battery suppliers. Additionally, the "Dragon Armor Battery" system Xiaomi simultaneously introduced warrants continued attention. Defined in-house by Xiaomi, with leading design and development and full-process quality control, the system requires a battery cell cycle life of 2,000 cycles, and its bottom anti-scratch design can withstand an impact energy of 500 J. It also requires no fire or explosion under 55°C full-charge thermal runaway conditions. Combined with the armored cage-style auto body (2,200 MPa ultra-high-strength steel) and an emergency flotation function, Xiaomi offers a solution that exceeds competitors in the safety dimension. Although the Dragon Armor Battery currently still relies on externally purchased battery cells, Xiaomi's deep involvement in battery pack design and quality control reflects an industry trend of automakers gaining greater influence in the battery segment. The potential impact on the battery supply chain landscape is worth monitoring. Overall, the launch of Xiaomi Pengcheng not only represents an improvement in Xiaomi’s product lineup but also reflects the accelerated arrival of the "large battery" trend in the extended-range vehicle segment. As official deliveries ramp up in September, the boost effect of large-battery EREV models on ternary batteries will gradually materialize, and the shipment performance of the relevant supply chain will become an important tracking indicator for the lithium battery industry chain.

South Africa’s International Trade Administration Commission (ITAC) has proposed expanding the country’s automotive incentive framework to include minerals used in electric-vehicle battery manufacturing, supporting deeper localisation of the domestic automotive and battery-material supply chains. Under the proposal, the existing list of eligible standard materials including aluminium, steel and platinum-group metals would be expanded to cover lithium, graphite, cobalt, copper, iron and rare earths. Eligible materials would need to originate from member states of the Southern African Customs Union (SACU) or Southern African Development Community (SADC). The proposed framework would recognise 50% of the value of qualifying EV battery materials as local content, potentially improving producers’ eligibility for automotive-sector incentives. The policy aligns with the South African Automotive Master Plan 2035, which aims to increase vehicle production, local content and investment as the industry transitions toward electric mobility. Stakeholders were given four weeks from the notice date to submit comments, meaning the final scope and implementation schedule remain subject to consultation. SMM comments: The proposal represents a demand-side approach to developing Africa’s battery supply chain, contrasting with Zimbabwe’s supply side policy of restricting concentrate exports to force domestic processing. If implemented, South Africa could emerge as a regional battery material processing or manufacturing hub sourcing feedstock from neighbouring SADC producers, including Zimbabwe and Namibia. However, the near-term impact on regional lithium trade flows is likely to be limited. Major Zimbabwean lithium assets including Arcadia, Bikita and Sabi Star are controlled by Chinese companies with established China-linked processing and offtake arrangements. It also remains unclear whether spodumene concentrate would qualify directly as an eligible battery material or whether further conversion into lithium sulphate, carbonate or hydroxide would be required. The final rules should therefore be monitored alongside Zimbabwe’s planned January 2027 lithium concentrate export deadline, as the two policies could influence future investment and trade flows within Southern Africa.

LICO Materials and Ather Energy have partnered to establish a collection and recycling system for end-of-life lithium-ion batteries from electric two-wheelers in India. Batteries from Ather's EV fleet will be processed at LICO's recycling facility in Karnataka. LICO stated that its recycling technology can recover up to 95% of valuable battery materials, including lithium, nickel, cobalt, graphite and copper. The recovered materials will be supplied back to battery cell manufacturers and automotive OEMs, supporting a circular battery supply chain. The partnership aligns with India's Battery Waste Management Rules, 2022 and is expected to strengthen domestic critical mineral recovery while reducing reliance on imported battery raw materials.