Recently, SVOLT announced on its official social platform that SVOLT's 400,000th PHEV battery pack rolled off the assembly line in Changzhou.
According to public information, Honeycomb Energy Technology Co., Ltd. was established in February 2018, split by Great Wall Motor Group, and invested in Jintan District, Changzhou City, Jiangsu Province. In 2019, 2020 and 2021, the first, second and third phases of the power battery production line of the Jintan plant were completed and put into operation. And in Changzhou, Taizhou, Yancheng, Jiangsu, Baoding, Hebei, Ma'anshan, Anhui, Shangrao, Jiangxi and other places have production bases.
From 2021, the mass production and launch of Mocha and Macchiato HEV/PHEV models equipped with lemon DHT dual-motor hybrid gearboxes under Great Wall Motor's Wei brand brand has begun. And began to supply to other vehicle companies. At present, SVOLT's power battery products have been mass-produced and installed on more than 20 PHEVs and extended-range models such as Geely Galaxy, VOYAH, Li and Tank.
According to the official disclosure of SVOLT, in 2023, the cumulative installed capacity of power batteries produced by SVOLT in the PHEV field will be 5.6GWh, a year-on-year increase of 409.1%. Thanks to its excellent performance in the PHEV market, SVOLT Energy's installed capacity and market share have also increased, with the cumulative installed capacity of power batteries in 2023 being 8.69GWh, ranking sixth in the country.
Since the end of 2020, independent car companies represented by Great Wall, BYD, Geely, Chery, FAW, and Dongfeng have successively realized the mass production and installation of DHT dual-motor series-parallel hybrid gearboxes. Due to the obvious price advantage of hybrid models compared with pure electric models of the same level in terms of cost, the plug-in hybrid vehicle market in China has shown a rapid growth trend. At present, SVOLT has mass-produced PHEV power battery products covering various specifications of battery packs with a pure electric range of 50km to more than 200km. Among them, the 62Ah and 117Ah battery packs of the Flying Stack Short Knife are the popular items in the PHEV market of SVOLT in 2023.
In December 2023, at the 4th Battery Day event held by SVOLT, in the PHEV field, SVOLT released the "second-generation hybrid cell", upgrading the hot-selling products in the PHEV market, 62Ah, 90Ah, and 117Ah, to 2.2C fast charging, and promising to "accelerate without price increase". At the same time, in order to meet the market demand for "large battery pack PHEV models", SVOLT has also released three new products, namely the hybrid lithium iron phosphate short knife fast charging core that can achieve a pure electric range of more than 300km, the hybrid ternary short knife fast charging core with a pure electric range of more than 350km and the 800V-3C hybrid fast charging core, which can further meet the supporting needs of B-class and C-class SUV/MPV hybrid models with 45-65KWh battery pack configuration. If SVOLT can obtain financial service support from banks, insurance and other institutions in important overseas industrial raw material production areas, invest in industrial raw materials necessary for power batteries such as lithium ore and nickel ore, and improve its own supply chain, it is expected to reduce the development cost of power batteries on the existing basis and occupy a larger market share in the domestic power battery market.