Volkswagen fixed lithium iron phosphate giant landing ternary lithium is not fragrant?

China Economic Network December 16 (reporter Chen Mengyu) yesterday, Guoxuan Hi-Tech to Volkswagen China non-public shares have completed the registration of new shares and listed, Volkswagen China officially became the largest shareholder of Guoxuan Hi-Tech, the shareholding ratio increased from 4.41% to 26.47%, Nanjing Guoxuan Holding Group Co., Ltd. and Li Zhen's shareholding ratio dropped to 10.26% and 6.20% respectively.

It is understood that the number of shares in the non-public offering of Guoxuan Hi-Tech is 384 million shares, the price per share is 19.01 yuan, and a total of about 7.303 billion yuan is raised for the new Guoxuan battery annual output of 16GWh high specific energy power lithium battery industrialization project, the new Guoxuan material annual output of 30,000 tons of high nickel ternary cathode material project and supplementary working capital.

In order to ensure the stable operation of Guoxuan Hi-Tech, Volkswagen China undertakes that within 36 months from the time when the relevant shares of the company involved in this non-public offering and share transfer are registered in the name of Volkswagen China or for a longer period of time as determined by Volkswagen China in its sole discretion, it will irrevocably relinquish the voting rights of some of the company's shares held by It, so that the voting rights ratio of Volkswagen China will be at least 5% lower than that of the founding shareholders (Guoxuan Holdings, Li Zhen and its co-actor Li Chen).

According to the statistics of China Automotive Power Battery Industry Innovation Alliance, in the first 11 months of this year, Guoxuan Hi-Tech's domestic power battery loading volume was 6 GWh, with a market share of 5.1%, ranking fourth in the industry. But it is worth noting that at present, the main product of Guoxuan Hi-Tech is still lithium iron phosphate battery, as a lithium iron phosphate giant, why is it chosen by Volkswagen that uses ternary lithium batteries on a large scale?

At present, Volkswagen's battery supplier in China is the Ningde era, and the power battery type is also a ternary lithium battery, however, some time ago, Volkswagen Group said that it will launch a small low-cost pure electric SUV in the future, the new model is named ID.2, which is expected to be released at the end of 2025, and it is likely to use lithium iron phosphate batteries with relatively low energy density. In this regard, Frank Blome, head of battery technology at Volkswagen Group, said: "Lithium iron phosphate batteries are low in cost and durable, and have more charging cycles, which is very suitable for use in short-range vehicles."

Coincidentally, in October this year, Tesla said at the third quarter investor exchange meeting that for the standard endurance version of the Model 3 and Model Y, the world will switch to lithium iron phosphate batteries to avoid the cost increase caused by the rising prices of raw materials such as nickel and cobalt. In addition, BYD also said that the new car on the market in the future will be fully equipped with lithium iron phosphate batteries, and Xiaopeng Automobile has also launched a lithium iron phosphate version of the model.

From ternary lithium batteries to lithium iron phosphate batteries, the battery route of electric vehicles seems to change suddenly overnight, early car companies more choose high energy density and expensive ternary lithium battery installation, but the current electric vehicle field is in a rapid expansion stage, price has become the key to car companies to enhance market share, in addition to more high-end models, domestic best-selling A00-class models are almost all equipped with lithium iron phosphate batteries.

Industry data also confirms this wind direction. According to the latest data from the China Automotive Power Battery Industry Innovation Alliance, China's ternary battery installed 9.2GWh in November, up 57.7% year-on-year; Lithium iron phosphate batteries were loaded at 11.6GWh, up 145.3% year-on-year. Lithium iron phosphate momentum continues to cover ternary lithium batteries.

The gap in production between the two is even greater. In November, China's ternary battery output was 10.4GWh, accounting for 36.8% of the total output, an increase of 42.6% year-on-year; The output of lithium iron phosphate batteries was 17.8GWh, accounting for 63.0% of the total output, an increase of 229.2% year-on-year and 12.0% month-on-month.