According to a research report released by Haitong Securities, the US government announced that it will improve the fuel efficiency standards for passenger cars and light trucks, and automakers need to achieve the goal of an average of 55 miles per gallon of fuel by 2026, which will take effect from 2023. The bank believes that in the future, new energy vehicles will replace traditional fuel vehicles, and compared with traditional vehicles, the largest increase in the value of new energy vehicles is the power battery; And believes that in the future, the ternary power battery will be equipped with high-end passenger models, lithium iron phosphate batteries will be equipped with low-end models, and the ternary power battery is recommended to pay attention to the Ningde era (300750.SZ), Sunwoda (300207.SZ), and Ewell lithium energy (300014.SZ); Internationally competitive material companies recommend paying attention to Putailai (603659.SH), Enjie (002812.SZ), Shanshan (600884.SH), Zhongke Electric (300035.SZ), Sinoma Technology (002080.SZ), Dangsheng Technology (300073.SZ), Tianji (002759.SZ) and so on.
The main views of Haitong Securities are as follows:
The Biden administration introduced the most stringent automotive fuel efficiency standards in history. The Biden administration announced that it will raise fuel efficiency standards for passenger cars and light trucks. The U.S. Environmental Protection Agency (EPA) has announced that automakers need to meet a target of 55 miles per gallon of fuel by 2026, and the standard will take effect from 2023. The current average for automakers is just 38 miles per gallon. The New York Times called it "the most important climate action the Biden administration has taken to date and the highest level of fuel economy ever set." In order to meet the standard, automakers will have to sell a large number of electric vehicles to offset the fuel vehicle indicator, which is a big positive for the new energy vehicle market.
Tesla opened the Texas Super Energy Storage Project, which is another important son at the energy business level. Recently, Tesla officially announced its new mega-Megapack-81 super battery pack in Texas, with an energy storage capacity of 100MW/200MWh, which is one of its largest energy storage projects to date. Tesla said the project aims to provide sustainable backup power support for the local grid and mitigate the hazards of extreme weather when it recurs. A total of 81 Megapack super battery packs can ensure a greater degree of blackout protection, while also reducing the dependence of local residents on fossil fuels. The bank sees the move as an important milestone in propelling Tesla Energy into a distributed global utility.
The development prospects of green hydrogen are promising. India-based renewable energy project developer Hero Future Energies (HFE) has partnered with green hydrogen energy company Ohhmium International to establish 1GW of green hydrogen production capacity in India, Europe and the Uk. HFE has experience in developing solar, wind and hybrid battery energy storage systems projects, while Ohhmium is responsible for the design and manufacture of polymer electrolyte membrane electrolyzers. Indian Prime Minister Narendra Modi has announced the establishment of India's national hydrogen strategy, which aims to become a global hub and major exporter of green hydrogen. India aims to produce nearly 500GW of renewable energy per year by 2030. The bank believes that green hydrogen energy is an ideal energy carrier to promote the clean utilization of traditional fossil energy and promote the development of renewable energy scale, and is the strategic direction of global energy structure transformation, and the development prospects are promising.
Risk Warning: The risk of policy uncertainty in the new energy automobile industry and the risk of changing the technical route.
This article is from the Haitong Securities Industry Report, analysts: Zhang Yichi, Zeng Biao, Zhang Lei, Zhitong Financial Editor: Yang Wanlin
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