The domestic power battery market is booming, and it seems that there will never be a shortage of points to watch. Among the many hot topics, the performance of "second echelon" suppliers has attracted much attention. Statistics from the China Automotive Power Battery Industry Innovation Alliance show that in January 2022 and the whole year of 2021, in addition to the Ningde era and BYD still occupying the first and second leading positions respectively, the remaining top ten companies account for the highest market share of less than 8%, but the momentum of catching up cannot be underestimated.
In 2021, when the domestic new energy vehicle market is growing explosively, 7 domestic suppliers, namely Avian Aviation (AVIC Lithium Battery), Guoxuan Hi-Tech, Hive Energy, Ewell Lithium Energy, Tafier New Energy, Fu Neng Technology, and Sunwoda, have entered the top ten ranks in terms of installed power battery capacity. Will they continue to thrive in the future, or may they lack staying power? We may wish to look for clues from many aspects of information.
1
China New China Airlines (AVIC Lithium Battery)
In 2021, the installed capacity of power batteries of China Innovation Airlines (AVIC Lithium Battery) was 9.05GWh, accounting for 5.9%, ranking third; in January 2022, the installed capacity was 1.20GWh, accounting for 7.4%, and the ranking remained unchanged.
In November 2021, AVIC Lithium Battery released a new brand strategy and officially changed its name to "China New China Innovation Airlines". Chairman Liu Jingyu said that the new name is a reshaping of the company's brand image.
Standing in the future, looking at the present, 2022 or a key year for the development of AVIC lithium battery. On January 25, The Guangzhou Base Project of China Innovation Aviation Power Battery and Energy Storage System settled in Huadu District, with a planned production capacity of 50GWh, and the main products include power batteries and energy storage systems. On January 26, The 50GWh Industrial Base of China Innovation Airlines settled in Jiangmen City. The 100GWh capacity planning of the two places marks the overall landing of its strategic layout of "Greater Bay Area Industrial Cluster". On February 7, the third phase of the Xiamen project of China Innovation Airlines was officially started, with a planned construction capacity of 40GWh. After the completion of the first, second and third phases of the Xiamen project, the annual production capacity will reach 60GWh.
According to the plan, in 2025, the annual production capacity of China New Air will exceed 500GWh, and it is expected to reach 1TWh in 2030. At present, the company has set up seven major industrial bases in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, Hefei and Heilongjiang, and built an industrial cluster development model, planning to form industrial clusters in the Pearl River Delta, Yangtze River Delta, Southwest Region, Central Region and Northeast Region.
In terms of technological innovation, Zhongxin Airlines has successively upgraded and launched high-voltage technology and products for high-safety ternary lithium batteries, MIR high energy density, high-safety battery system technologies and products, and One-Stop new soft pack battery technologies and products. By integrating innovation into the new brand image, Zhongxin Airlines has achieved industry leadership through three aspects: advanced materials, advanced technology and advanced manufacturing.
In the past two years, Zhongchuang Aviation has become the core supplier of GAC Passenger Cars and Changan Automobile, and has added passenger car customers such as SAIC-GM-Wuling, Zero Run, GAC Toyota, Geely and Dongfeng, and has also joined the ranks of Xiaopeng Automobile. At present, the specific models of passenger cars supported by China Innovation Airlines include: Zero-Run C11, Xiaopeng P7, EA6, Wuling Hongguang MINIEV, Aian Y, GAC Aion S, GAC Aion V, GAC Toyota IA5, Changan Yidong EV460, Changan CS15 E-Pro, Changan Benben E-Star, Changan CS55 E-Rock, Geely Emgrand EV450, Geely Geometry C, Dongfeng Fengguang E3.
In the capital market, China Innovation Aviation is accelerating its sprint for IPOs. In December last year, the CSRC disclosed that it had received the "Approval of Overseas Initial Public Offering of Shares" materials from China Innovation Airlines. In February this year, China Innovation Aviation Jiangsu Phase III project signed a syndicate and received 5 billion yuan of project loan support.
2
Guoxuan Hi-Tech
In 2021, the installed capacity of Guoxuan Hi-Tech power batteries was 8.02GWh, accounting for 5.2%, ranking fourth; in January 2022, the installed capacity was 0.94GWh, accounting for 5.81%, and the ranking remained unchanged.
Guoxuan Hi-Tech, which holds hands with Volkswagen Group, has taken advantage of the heating of lithium iron phosphate batteries in 2021. In July last year, Guoxuan Hi-Tech signed a memorandum of understanding with Volkswagen Group, and the two sides reached a comprehensive cooperation in product development, industrialization landing, supply chain, human resources and other aspects. Guoxuan Hi-Tech will develop the first generation of standard batteries for Volkswagen Group, becoming the first designated developer to obtain r&D of standard batteries. According to Volkswagen's plan, standard batteries will enter the product introduction stage in 2023 and cover 80% of the volkswagen group's electric vehicle models by 2030. In December of the same year, Guoxuan Hi-Tech issued non-public shares to Volkswagen China, and the listing of the new shares was completed after registration, which meant that Guoxuan Hi-Tech's introduction of Volkswagen China strategic investors was basically landed. It is reported that Volkswagen has begun to build the Anhui MEB factory. According to public information, the plant has recently completed 50% of the construction according to the schedule, and the first model will be put into operation in the second half of 2023.
In terms of customers, As the first supplier of Hongguang MINIEV power batteries, Guoxuan Hi-Tech will support more than 134,000 vehicles in 2021, with an installed capacity of 1.67GWh per model, accounting for 25.7% of its total installed electromechanical capacity. In addition, Guoxuan Hi-Tech also provides support for A00-class hot models of Jacques Automobile, Chery Automobile, Zero-run Automobile, Changan Automobile, BAIC New Energy and other car companies. At the same time, Guoxuan Hi-Tech has also actively penetrated into the high-end models of mainstream domestic car companies such as Volkswagen, Great Wall, Geely, chery, etc., and has also signed a supply agreement with a large American car company to deliver no less than 200GWh power batteries from 2023 to 2028.
In 2021, Hefei Guoxuan, a wholly-owned subsidiary of Guoxuan Hi-Tech, intends to build a 20GWh Volkswagen standard battery cell project in the Xinzhan High-tech Zone, which is expected to cover an area of 500 acres. On February 28, 2022, Guoxuan Hi-Tech's wholly-owned grandson company- Inner Mongolia Guoxuan Zero Carbon Technology Co., Ltd. Wuhai lithium-ion battery anode material project started, planning to build an annual production capacity of 400,000 tons, the total investment of the project is 10 billion yuan. In order to ensure the release and supply of battery production capacity, Guoxuan Hi-Tech's current layout of upstream materials has covered lithium, cobalt, nickel, precursors, ternary materials, LFP materials, lithium titanate, cathode, negative electrode, copper foil, diaphragm, electrolyte, additives and most of the lithium battery production raw materials.
3
Hive Energy
In 2021, the installed capacity of honeycomb energy power batteries was 3.22GWh, accounting for 2.1%, ranking sixth; in January 2022, the installed capacity was 0.44GWh, accounting for 2.69%, ranking fifth.
As a new force in the industry that has been "self-reliant portal" for three years, from barely ranking among the top ten domestic power battery installed capacity for the first time to stabilizing its market position at present, Hive Energy is moving forward step by step on the road of expansion.
Hive Energy has a diversified customer structure, and there are products suitable for market demand in the fields of short mileage and long mileage PHEV (plug-in hybrid vehicle). In addition to Great Wall Motors, Hive Energy also supplies a number of external customers. In 2021, about 5% of shipments will be supplied to Nezha Automobile and Zero Run Car. In June 2021, Chongqing Jinkang New Energy Vehicle declared the Xilis plug-in extended range hybrid multi-purpose passenger car, the Nezha pure electric car declared by Hezhong New Energy and the pure electric car declared by Great Wall Euler all have models equipped with honeycomb energy power batteries. In addition, Geely Automobile's three models, namely The Mid-level Sedan Borui, the compact MPV Jiaji, and the compact SUV Lynk & Co 06, are also supported by Hive Energy. Dongfeng, a Fengshen brand pure electric car, also added the supporting information of Hive Energy in the column of the change and expansion product announcement.
According to incomplete statistics, Hive Energy has received suppliers or sales orders from 25 domestic and foreign car companies such as Geely, Dongfeng, PSA and so on. In addition, Hive Energy has locked up the power battery order of Beam Vehicle, a joint venture project between Great Wall and BMW.
In the past two years, Hive Energy has frequently increased its production capacity targets and become an active member of the expansion army. At the end of 2021, Hive Energy released the "Lead Bee 600" strategy, proposing to increase the capacity planning target to 600GWh in 2025. The relevant person in charge said that the place where the hive energy needs to be improved is first of all the need to improve the capacity climbing speed of the new production line to create the greatest benefit in the shortest possible time; secondly, it is necessary to accelerate the speed of new product launch.
In February this year, the construction of the second phase of the 20GWh power battery project of the Hive Energy Shangrao Base was started, and it is expected to achieve SOP in the second half of 2023, so far, with the 4GWh of the first phase, the total production capacity of the Shangrao Base is planned to be 24GWh. In terms of products, Honeycomb Energy launched a series of short knife battery categories, and will implement electric global short knife in the future; in addition, it plans to launch a second-generation short knife battery, with an energy density of 190Wh/kg, which will be mass-produced at the end of this year.
4
Ewell Lithium Energy
In 2021, the installed capacity of Ewell lithium power batteries was 2.92GWh, accounting for 1.9%, ranking eighth; in January 2022, the installed capacity was 0.37GWh, accounting for 2.31%, ranking sixth.
In terms of battery technology, Ewell Lithium energy has adopted a wide-net strategy, from lithium iron phosphate batteries to ternary lithium batteries, from squares, soft packs to cylindrical batteries, and different products correspond to different customer needs. For example, it provides soft-pack ternary lithium batteries for Daimler and Hyundai Kia, square ternary lithium batteries for BMW and Land Rover, and lithium iron phosphate batteries for commercial vehicle and bus customers.
In recent years, Ewell Lithium energy has made great progress on the power battery track, and while its performance has increased significantly, it has also actively expanded its production capacity. In November 2021, Ewell Lithium Energy signed a strategic investment agreement with the Jingmen Municipal Government, planning to complete the fixed asset investment of 30.521 billion yuan and build a power storage battery industrial park project with an annual production capacity of 152.61 GWh. In 2021, Ewell Lithium can build a production capacity of 28.5GWh, spending 8.611 billion yuan, and the production capacity under construction is 124.11GWh, and it is expected to invest more than 20 billion yuan. In addition, Ewell Lithium Plans to invest in the construction of a project with an annual output of 50GWh power energy storage batteries (Phase I 20GWh, Phase II 30GWh) in Chengdu, superimposed Huizhou base soft pack battery 10GWh, lithium iron phosphate battery 20GWh (Phase II tentatively 16GWh) and 10GWh joint venture with Lin Yang, the related capacity planning is more than 240GWh. It is also reported that Ewell Lithium energy has won the order for Tesla's 4680 battery, which will be mass-produced in 2022, and is currently actively expanding the plant.
In the new era of TWh in the power battery industry, suppliers face a major test of resource integration capabilities. The "circle of friends" of Yiwei Lithium Energy has been extended to upstream supply chain enterprises such as Enjie Shares, Diaphragm Leader Enjie Shares, Lithium Iron Phosphate Leader German Nano, and Nickel and Cobalt Leader Huayou Cobalt Industry. Among the second-tier lithium battery manufacturers, Ewell Lithium Energy is one of the few companies that has achieved full coverage of the industrial chain.
In February 2022, Ewell Lithium Energy signed a cooperation agreement with the Yuxi Municipal Government of Yunnan Province, Enjie Shares, Huayou Holdings, and Yuntianhua to sign a project cooperation agreement on the whole industry chain of power batteries, and the company will carry out joint venture cooperation with phosphorus chemical giants Yuntianhua and Enjie Shares to jointly exploit mineral resources.
5
Fu Neng Technology
In 2021, the installed capacity of power batteries of Fu Neng Technology was 2.45GWh, accounting for 1.6%, ranking ninth; in January 2022, the installed capacity was 0.34GWh, accounting for 2.11%, ranking seventh.
The main products of Fu Neng Technology are cells, modules and battery packs for soft-packed ternary lithium batteries, covering battery systems for pure electric vehicles, hybrid and plug-in hybrid vehicle battery systems. Previously, Fu Neng Technology and Daimler-Benz reached a cooperation agreement to sign a 10-year order agreement for power batteries that will exceed 170GWh in total. Mercedes-Benz invested 700 million yuan in Fu Neng Technology and became its shareholder.
In April 2021, Mercedes-Benz EVA battery mass production rolled off the production line, marking the realization of mass production of The first global pure electric platform battery project supported by Benz. In May, Beijing Benz declared the second model of its EQ series, the EQB, which is equipped with Fu Neng Technology's ternary lithium battery system. In addition to Daimler-Benz, Fu Neng Technology has also entered the supply chain of GAC Mitsubishi and has reached cooperative relations with GAC Aian, Dongfeng Lantu, Tianji Automobile, etc. As of 2022, the order volume in hand of Fu Neng Technology has reached 14.8GWh, and the effective production capacity is expected to be about 13GWh this year.
Fu Neng Technology is listed on the Science and Technology Innovation Board, but its recently released 2022 annual performance report is not optimistic: revenue has doubled, but net profit has lost nearly 1 billion yuan. Fu Neng Technology said that there are many reasons for unsatisfactory net profit, mainly including factors such as product price impact, rising raw material prices, greater impact of depreciation and amortization, and larger research and development expenses. At the beginning of this year, Fu Neng Technology determined the fixed increase of high-performance power lithium battery project, located in Sanshan Economic Development Zone, Wuhu City, Anhui Province, after the project reaches production, it will achieve the ability to produce 12GWh power battery system per year, and it is planned to be completed in 18 months, with a post-tax static investment recovery period of 6.95 years and an after-tax internal rate of return of 12.8%.
In 2021, Fu Neng Technology's 800VTC supercharge and overpressure technology was launched, claiming to "redefine the era of supercharging", and the product is scheduled to be loaded in September 2022. It is reported that Fu Neng Technology 800VTC overcharge and overvoltage technology is the first mass-produced 800V high-voltage platform in China, with a charging rate of 2.2~4C, realizing medium and high voltage free switching + fast charging, providing strong support for the high-voltage energy network ecology. Fu Neng Technology also developed and verified the new generation of 330Wh/kg power batteries, optimized the SPS (Super-Pack Solution) structure, and obtained a low-cost fast-charging battery technology development contract of about 26.65 million yuan from USABC (American Advanced Battery Alliance).
6
Sunwoda
In 2021, the installed capacity of Sunwoda power batteries was 2.06GWh, accounting for 1.3%, ranking tenth; in January 2022, the installed capacity was 0.23GWh, accounting for 1.41%, ranking eighth.
Sunwoda automotive batteries adopt a multi-line strategy such as HEV, BEV and PHEV. According to the data, at present, sunwoda's product applications have rapidly entered the field of high-end brands, involving the promotion of 34 models in the catalog. Since entering the field of power battery cells in 2017, Sunwoda's overseas customers are mainly Renault-Nissan, Volvo, etc.; domestic customers are mainly Geely, SAIC, GAC Passenger Cars, Dongfeng Liuqi, Xiaopeng, Yundu and so on.
Since the second half of last year, Sunwoda has been more active in implementing capacity planning: in August, it announced that it intends to invest 20 billion yuan to build a power battery project in the jurisdiction of the Nanchang Economic Development Commission, which will be built in four phases, which will be implemented in 2021, 2022, 2024 and 2026 respectively; in December, it announced that it intends to invest about 20 billion yuan in zaozhuang National High-tech Industrial Development Zone for the construction of power batteries with an annual production capacity of 30GWh, energy storage battery production lines and related supporting facilities.
There are indications that Sunwoda is highly valued by car companies. In November last year, Wuling Industry, a subsidiary of Wuling Automobile, and Sunwoda Automotive Battery, a subsidiary of Sunwoda, signed a letter of intent for joint venture cooperation, with the intention of jointly investing in the establishment of a joint venture in Liuzhou, Guangxi Province, covering new energy vehicle power battery systems. In February 2022, Sunwoda announced the completion of a capital increase of 2.43 billion yuan, and 19 shareholders appeared in the list of WEILAI, Xiaopeng and Ideal Automobile or their affiliates. Among them, Jiangsu Chehejia, an affiliate of Ideal Automobile, SkyTopLLC, an affiliate of Xiaopeng Automobile, and Weirui Investment, an affiliate of NIO, increased the capital of Sunwoda Auto Battery by 400 million yuan, 400 million yuan and 250 million yuan respectively. After the completion of the capital increase, Sunwoda's registered capital increased by 1.237 billion yuan to 6.325 billion yuan, and 19 investment enterprises obtained a total of 19.55% of the shares.
Recently, Sunwoda Electric Vehicle, a subsidiary of Sunwoda Holdings, received a fixed-point notice from SAIC On the ZS12MCE HEV project to supply power battery assembly products for SAIC's ZS12MCE HEV project. On March 1, according to the announcement issued by Sunwoda, it is planned to invest in the construction of the "Sunwoda 30GWh Power Battery Production Base Project (tentative)" in Zhuhai, with a total investment of about 12 billion yuan, of which the total investment in fixed assets is about 10 billion yuan.
7
Tafer New Energy
In 2021, the installed capacity of Tafer's new energy power battery was 3.00GWh, accounting for 1.9%, ranking seventh; in January 2022, the installed capacity was 0.13GWh, accounting for 0.82%, ranking tenth.
The development of Tafir New Energy can be described as experiencing highs and lows. After a patent dispute with a competitor, since 2020, Tafir New Energy has become unusually low-key. Nowadays, it is difficult to find information about the company for nearly a year or two on the Internet. Regarding the strategic goals, production capacity planning, technical reserves and other specific conditions of Tafer New Energy in the future, there are few relevant information. However, in contrast to the lack of movement on the Internet, Tafir New Energy is "recruiting" and is in full swing to carry out campus and social recruitment. This seems to mean that Tafir New Energy is still secretly exerting its strength and preparing to return home.
Headquartered in Nanjing, Jiangsu Province, Tafer New Energy currently has five major R&D production bases in China, in addition to the two self-built bases in Dongguan and Nanjing, in addition to the production bases in Changde, Hunan, Qihe, Shandong and Guizhou Gui'an, which have cooperated with other enterprises. The company has a complete resource development capability of cell, module, BMS and Pack design and production, and is committed to providing customers with high-quality products and services through continuous improvement of battery technology, the main products are various types of national standard size square aluminum shell lithium-ion power batteries and energy storage batteries (lithium iron phosphate batteries and ternary lithium material system batteries). In order to respond to the needs of customers and the market, when the limelight is in full swing, in 2020, Tafer New Energy invested heavily in the new Changshu project - Zhengli New Energy. It is reported that the project invested more than 4 billion yuan, the total production capacity of 10GWh after production, the first phase has been put into operation in April 2021, the second phase is expected to be put into operation in the first half of 2022.
According to the data, Tafer New Energy has established in-depth cooperation with international and domestic mainstream car companies; at the same time, it has also carried out close strategic cooperation with experts and scholars from the Institute of Chemistry of the Chinese Academy of Sciences, Nankai University, Tsinghua University, South China University of Technology and other colleges and universities, and is committed to the development of next-generation battery technology.
Text: Zhao Qiong Editor: Pang Guoxia Typography: Li Peiyang