The world's first sodium-electric model officially rolled off the assembly line, and the battery ETF (561910) consolidated above the 10-day moving average, with a net inflow into Sanlianyang
[The world's first sodium electric model was delivered, and the mass production of sodium electric vehicle kicked off]
Funeng Technology's first sodium-electric model rolled off the assembly line, the United States solid-state sodium battery achieved a record metal cycle rate, Novonix's European anode plan was shelved, China's blade battery shipments exceeded 140GWh in 2023, and it is expected that China's newly planned blade battery production capacity will exceed 200GWh in the next two years, the domestic wholesale sales data will exceed 1.1 million units in December, and nearly 9.4 million units for the whole year, and the global lithium battery production in 2023 will be 1210.0GWh, a year-on-year increase of 14.2% Among them, the output of power and energy storage batteries was 879.3GWh and 220.1GWh, respectively, a year-on-year increase of 6.7% and 57.3%, NIO released a global 900V high-voltage architecture and 46105 large cylindrical batteries, and CATL will launch an automotive-grade version of the condensed matter battery. Xiaomi Auto released CTB integrated battery technology, and EVE released the "Linju" series of batteries.
According to the analysis of Ping An Securities, it is recommended to pay attention to the enterprises with first-mover advantages in the sodium battery industry chain, the relevant enterprises that are deeply cultivated in the fast charging battery industry chain and the leaders of the large cylindrical power battery industry chain, and it is recommended to pay attention to the related enterprises in the industrial chain of liquid-cooled supercharging stations and the related enterprises with rapid development in the on-board power supply system.
[Lithium battery materials continue to decline, and the advantages of sodium-ion batteries are reduced]
Industry insiders pointed out that when the price of lithium carbonate is 200,000 yuan/ton, the marginal cost of sodium-ion batteries can be about 24% ahead, when the price of lithium carbonate falls to 100,000 yuan/ton, the marginal cost price of sodium-ion batteries is about 12% ahead, and when the price of lithium carbonate falls to 50,000 yuan/ton, the marginal cost of sodium-ion batteries is only about 5% ahead.
According to Shanghai Ganglian data, as of December 27, the average price of battery-grade lithium carbonate was reported at 10.25 yuan/ton, down more than 40% from the end of last year, and the cost advantage of sodium-ion batteries is no longer obvious.
[The price of lithium batteries plummeted by 50%, and the construction cost of energy storage projects fell by 30%]
According to the Associated Press of Finance, in November, the sales volume of energy storage batteries in mainland China was 16.0GWh, an increase of 15.1% month-on-month. Since the beginning of this year, the price of lithium carbonate has continued to fall, falling by nearly 80% from last year's high. According to industry insiders, raw materials have plummeted, and the price of lithium batteries has fallen by nearly 50%, which has reduced the construction cost of energy storage projects by more than 30%. At present, the price of lithium carbonate is stable, the price of lithium battery is at a low position, and the scale of wind power and photovoltaic power stations continues to grow, which is conducive to the development of shared energy storage.
[Funds once again borrowed the battery ETF to lay out the sector on dips]
The lithium battery sector has been adjusted again after rising sharply, and the intention of capital layout is obvious. According to Wind data, the battery ETF (561910) consolidated above the 10-day moving average, and received funds to increase its position for three consecutive days, with three net inflows in five days.
Image Credit: Snowball
Image source: Wind
[The sector is located in a very low valuation area]
Image source: Wind
The Battery ETF (561910) tracks the CSI Battery Theme Index (hereinafter referred to as the CS Battery Index), covering battery manufacturing, core materials, lithium battery equipment, and energy storage inverters. Among them, more than 5% of the weight is the concept of new energy vehicles. From the perspective of industry, the CS battery index focuses more on the core part of the new energy vehicle industry, which has the characteristics of high growth and high elasticity. OTC investors can intervene through the Feeder Fund (Class A: 016019; Class C: 016020).