Special report on the new energy vehicle power battery industry: a review of the domestic power battery market in 2021

(Report Producer/Author: CITIC Securities, Yuan Jiancong, Wu Weichen, Teng Guanxing, Wang Hao)

1. Review of domestic power battery market

Total: 140GWh of domestic power batteries installed in 2021, +165% year-on-year.

Monthly installed capacity: Monthly, the monthly growth rate in 2021 is more than 95%; in February, it was affected by the low base of the epidemic in 2020, and the growth rate was as high as 622%.

Installed capacity by model: 2021 EV passenger car power battery installed +164% year-on-year; 2021 EV bus power battery installed capacity year-on-year -15%.

Average bicycle installed capacity: In 2021, the average installed capacity of new energy vehicles in China will be 46KWh, a year-on-year decrease of 6%.

Installed capacity by material type: By material type, in 2021, the domestic ternary battery installed capacity was 74.3GWh, +91% year-on-year; in 2021, the domestic lithium iron phosphate installed capacity was 65.4GWh, +192% year-on-year, with a growth rate of more than three yuan; in 2021, the domestic ternary battery installed capacity was 74.3GWh, accounting for 53%, down 9pcts from 2020; in 2021, the domestic lithium iron battery installed capacity was 65.4GWh, accounting for 47%, an increase of 11pcts compared with 2020.

Installed capacity by structure type: By battery structure, in 2021, the domestic square battery installed capacity is 121GWh, which is +139% year-on-year; in 2021, the domestic soft pack battery installed capacity will increase significantly year-on-year, +161% year-on-year.

Installed capacity by model level: From the perspective of model level, the top three model levels of passenger car battery installed capacity in 2021 are A, B and A00 levels, which are 42.44, 37.17 and 17.88GWh respectively. In 2021, the top three model levels of power battery installed capacity are A, B, and A00, accounting for 30%, 27%, and 13% respectively. In 2021, the top three model classes of new energy vehicles installed are A, A00 and B, with installed capacity of 919,000, 825,000 and 637,000 units, accounting for 30%, 27% and 21% respectively.

A00 level installed capacity: in 2021, the domestic A00 level electric vehicle, the battery installed capacity and the largest number of supporting battery companies are Guoxuan Hi-Tech, the total installed power is 4.7GWh, the number of supporting units is 230,000 units, and the bicycle with electricity is about 20KWh. In 2021, among the domestic A00-level electric vehicle enterprises, the largest number of battery installed capacity and supporting quantities is SAIC Motor.

2. Review of domestic power battery market - sub-battery enterprises

By battery companies, in 2021, the installed capacity of the Ningde era (excluding joint ventures) ranked first in the industry, +132% year-on-year.

Catalonia era: In 2021, the Cataline era has the most installed Tesla batteries and the most Tesla vehicles. In 2021, catheter era supporting Tesla battery installed capacity is the highest, accounting for 20%.

BYD: BYD power batteries are mainly supported by BYD automobiles; at present, BYD power batteries are supplied to FAW, Jinkang, Dongfeng and other car companies.

Zhongxin Airlines: China Innovation Airlines supports GAC Group and Changan Automobile with the largest number of battery installed capacity and supporting vehicles; China Innovation Airlines supports GAC Group with the highest installed capacity of batteries, accounting for 65%.

Guoxuan Hi-Tech: Guoxuan Hi-Tech supports SAIC Group with the largest number of battery installed capacity and supporting vehicles; Guoxuan Hi-Tech supports SAIC Group with the highest installed battery capacity, accounting for 29%.

LG New Energy: LG New Energy supports Tesla with the highest installed capacity of batteries.

Times SAIC: Times SAIC has the highest installed capacity of batteries supported by SAIC Motor Group, accounting for 94%.

3. Review of domestic power battery market - sub-car enterprises

Passenger car

The top three car companies in terms of installed capacity: BYD, Tesla, and SAIC Motor.

BYD-battery installed capacity: 21.34GWh; main supplier: BYD (100%).

Tesla - battery installed capacity: 19.98GWh; main suppliers: CATL (70%), LG Chem (30%).

SAIC Motor - battery installed capacity: 13.63GWh; main suppliers: CATL (33%), TIMES SAIC (27%), Guoxuan Hi-Tech (14%).

passenger car

The top three passenger car installed capacity: Yutong Bus, Zhongtong Bus, CRRC Era.

Yutong Bus - Battery Installed Capacity: 2.15GWh; Main Suppliers: CATL (94%), Guoxuan Hi-Tech (3%).

Zhongtong Bus - Battery Installed Capacity: 1.08GWh; Main Suppliers: CATL (93%), Guoxuan Hi-Tech (5%).

CRRC Times - Battery Installed Capacity: 0.90GWh; Main Suppliers: CATL (91%), Mengguli (9%).

Special vehicles

The top three special vehicles installed: Dongfeng Motor, Beiqi Foton, sany automobile.

Dongfeng Motor - battery installed capacity: 0.72GWh; main suppliers: CATL (37%), Yiwei lithium energy (32%), Henan lithium power supply (24%).

Beiqi Foton - battery installed capacity: 0.70GWh; main suppliers: CATL (59%), Lishen (40%).

Sany Automobile - battery installed capacity: 0.52GWh; main suppliers: CATL (63%), Ewell Lithium Energy (19%), Linkage Tianyi (18%).

Excerpts from the report:

(This article is for informational purposes only and does not represent any of our investment advice.) For usage information, see the original report. ）

Featured report source: [Future Think Tank].