Dong Mingzhu and Gree Titanium: The Unyielding Road to Breaking the Status Quo

Recently, Gree Titanium New Energy Co., Ltd. won the China Patent Gold Award for its "lithium titanate composite material and its preparation method," becoming the only company in the lithium battery industry to receive this honor in this session, attracting widespread attention both within and outside the industry. In a battery sector dominated by giants such as BYD and CATL, this breakthrough is particularly remarkable. While many people still associate 'Gree' solely with air conditioners, 68-year-old Dong Mingzhu has led her team to achieve a daring leap in the new energy track, elevating a once-questioned technology to the pinnacle of national recognition.  

The starting point of all this was a highly controversial acquisition seven years ago. In 2016, Dong Mingzhu became interested in the lithium titanate technology held by Yinlong New Energy and pushed for Gree Electric to acquire it, only to be rejected by the board. To outsiders, this might have seemed like a signal to stop, but Dong Mingzhu demonstrated her characteristic decisiveness and boldness. She candidly stated: 'I have never made a mistake, I never admit being wrong, I am always right.' Despite facing internal resistance, she resolutely invested all her personal assets and, together with business leaders such as Wang Jianlin and Liu Qiangdong, jointly contributed 3 billion yuan to acquire shares in Yinlong, becoming its second-largest shareholder.

However, the challenges were just beginning. After taking over Yinlong, it was revealed that the company’s founder, Wei Yincang, was suspected of embezzling company assets through related-party transactions, involving a staggering 1.4 billion yuan, and he later remained abroad. Suddenly, public opinion was in an uproar. Criticism such as "Dong Mingzhu's investment goes down the drain," "Gree dragged down by Yinlong," and "The strong woman meets her Waterloo" was relentless. At the center of the storm, Dong Mingzhu faced a chaotic management situation, lawsuits, and a damaged reputation—a real 'mess.'

Many speculated that she would cut her losses and withdraw, but Dong Mingzhu chose the most difficult path: take full control and completely restructure the company. She forcefully entered Yinlong and carried out sweeping reforms: cleaning up management, reshaping systems, and strengthening R&D. In 2021, Yinlong New Energy was officially renamed 'Gree Titanium New Energy Co., Ltd.,' marking its full integration into the Gree ecosystem. Amid skepticism, Dong Mingzhu quietly focused her attention on the technology itself, firmly believing that the lithium titanate technology path held irreplaceable unique value.

Lithium titanate technology is not mainstream in the market, as its energy density is lower than that of common ternary lithium and lithium iron phosphate batteries, and it was therefore abandoned by many companies. However, Dong Mingzhu recognized its overlooked hardcore advantages: ultra-safety, wide-temperature resilience, extremely long lifespan, and excellent fast-charging performance. Gree’s titanium batteries can be fully charged in 6 minutes, have a cycle life of over 25,000 times, a theoretical service life of more than 30 years, and can operate stably even in extreme temperatures as low as -50°C. These characteristics precisely address pain points in specific scenarios.

Dong Mingzhu did not attempt to compete with electric cars on long-range mileage using this battery, but rather opened up a whole new application domain. In the urban bus sector, where routes are fixed and dedicated charging stations are available, fast charging and safety are of utmost importance, making Gree’s titanium batteries a perfect match. For energy storage stations, long service life and high safety are key considerations, highlighting the advantages of lithium titanate technology. Additionally, in high-frequency, high-intensity operational scenarios such as port AGVs, mining vehicles, and airport shuttle buses, Gree’s titanium batteries are also beginning to shine.

True breakthroughs come from persistent hard work and innovation. The award-winning patents are the result of the Gree Titanium team improving basic materials, effectively enhancing the performance shortcomings of lithium titanate materials through composite technology. It is precisely this spirit of 'I do what others are unwilling to do, I break through what others cannot' that has brought a once-marginalized technology to the pinnacle. Today, Gree titanium batteries have made their way into AGV factories in Switzerland, connected to energy storage stations in Denmark, and are running on desert bus routes in the UAE. The products are exported to more than 30 countries and regions worldwide, with orders pouring in one after another.  

From being a lone warrior burdened with the reputation of being a 'big spender,' to becoming a game-changer standing on the industry podium, Dong Mingzhu's six-year journey has been a marathon of defiance against fate. In an interview, she candidly said, 'There are difficulties every day; the key is how you see them.' She embodies the adventurous spirit of an entrepreneur, the technical perseverance of an industrialist, and the strong responsibility of a leader. This battle for resurgence not only saved a core technology and opened up a niche market but also reshaped the technical DNA of the company, laying a crucial foundation for Gree’s diversified strategy in the new energy era.

Looking back at the journey so far, the contrast between Wei Yincang, suspected of embezzling massive sums and still at large, and Dong Mingzhu, who has devoted six years to relentlessly pursuing technology, is strikingly dramatic. Two sides of the same story reflect the different choices in the business world regarding opportunity, responsibility, and long-term thinking. Dong Mingzhu's path to breakthrough is far from a simple comeback narrative; it more profoundly reveals that in the fog of industrial transformation, true leaders often need insights that transcend short-term gains and the remarkable resilience to turn doubt into fuel.  

Just like the vertical sand mill by INFOR that has just been shortlisted in Dongguan's 'first set' project, at its core lies the craftsmanship and innovative courage of 'working with dedication and solving pain points.' The story of Dong Mingzhu and Gree Titanium acts like a prism, reflecting that essential light on the road of transformation and upgrading in Chinese manufacturing—refusing to accept fate, daring to break through, and charting one's own path in uncharted territory. This path is strewn with thorns, but its endpoint may well be the stars and sea that lead the future.