Abstract: In recent years, through cooperation with leading domestic car companies, multi-fluorinated and multi-new energy battery products have covered the main BEV models of Chery, Wuling and other car companies in passenger car applications, with a total of more than 300,000 vehicles.
In recent years, the sales of new energy vehicles of the world's mainstream car companies have increased significantly, driving the demand for power batteries to continue to increase. At the same time, the demand for new energy storage, represented by electrochemical energy storage, is increasing rapidly. Not only that, with the implementation of the "new national standard" for electric bicycles and the beginning of the boom of electric motorcycles, the electric two-wheeled vehicle industry in mainland China has entered a new stage of high-quality development, and the products show a trend of lithium batteryization.
According to data from EVTank, a research institution, in 2023, China's lithium-ion battery shipments will reach 887.4GWh, a year-on-year increase of 34.3%, and the proportion of global lithium-ion battery shipments will reach 73.8%, and the proportion of shipments will continue to increase. Looking ahead, EVTank expects global lithium-ion battery shipments to reach 1,926.0GWh in 2025 and 5,004.3GWh in 2030.
In order to seize the high ground, the world's leading lithium hexafluorophosphate company polyfluoride (002407) continues to deepen the field of lithium batteries.
On April 22, the "Lithium Battery Quality Day" observation activity jointly organized by Duofluoride New Energy Technology Co., Ltd. (hereinafter referred to as Duofluoride New Energy) and Huajiyuan was held in Jiaozuo, Henan Province, and visited the production and operation command center, energy storage power station, lithium battery production line and testing center of Duofluoride, fully demonstrating the hard power of lithium battery business.
Deep cultivation of technology to solve the core pain points of large cylindrical batteries
According to public information, for the battery business, Duofluoride established a subsidiary in December 2010, introduced advanced manufacturing equipment at home and abroad, and engaged in the production and research and development of new power batteries and materials, modules, vehicle battery packs and other products, and is one of the manufacturers of early mass production of power batteries in China.
In recent years, polyfluorinated and multi-new energy have studied different application fields and developed power, energy storage and power products. At the same time, for large cylindrical batteries, the company combines the characteristics of PACK structure design, integrates safety, temperature, cost and other factors, and innovatively designs low-cost, high-performance 60150-50Ah, 40135-20Ah and other lithium iron phosphate large cylindrical batteries.
It is understood that large cylindrical batteries have relative advantages such as high energy density, strong fast charging, high safety, and long life, and can be used in various fields such as electric vehicles, electric bicycles, electric motorcycles, energy storage, low-speed electric vehicles, and parking power supplies. However, due to factors such as technology, the mass production time of large cylindrical batteries has been postponed again and again.
EVTank data shows that in 2023, global cylindrical lithium-ion battery shipments will increase slightly by 3.5% year-on-year to 12.37 billion units. EVTank analysis believes that one of the main driving forces for the growth of global cylindrical battery shipments in 2023 is that the growth of electric vehicle sales represented by Tesla will drive the growth of EV cylindrical shipments.
In this regard, multi-fluorinated and multi-new energy large cylindrical batteries are gradually moving from the production capacity preparation stage to the large-scale mass production stage. It is reported that the multi-fluorine and multi-new energy large cylindrical battery adopts an all-tab structure, which solves the shortcomings of the insufficient power of the traditional cylindrical battery after it is enlarged, and can realize large-rate discharge.
In terms of packaging, the polyfluorinated and multi-new energy large cylindrical battery shell adopts the upper and lower double explosion-proof canning packaging technology, even if the battery thermal runaway will not cause fire, explosion and other safety accidents, the structure is exquisite, the process is simple, and it is convenient to achieve automation and scale while meeting the needs of efficient manufacturing.
Thanks to the excellent formula, structure and process, the multi-fluorine and multi-new energy large cylindrical battery not only has excellent safety performance, excellent cycle life, but also outstanding low-temperature performance, which can not only achieve low-temperature discharge at -30 °C, but also achieve low-temperature charging below 0 °C, which is feasible to solve the low-temperature pain point of lithium iron phosphate battery.
At present, the cylindrical products of polyfluorinated and multi-new energy cover a series of products from 15Ah to 70Ah, and the unique cans and double-sided explosion-proof technology have built a better safety and cost advantage, which is the best choice in the field of light vehicles and small energy storage, and is also one of the company's core businesses in the future.
The battery network also noted that recently, polyfluorinated new energy and Jiangxi Longji Power Technology Co., Ltd. (hereinafter referred to as: Longji power) of the lithium battery brand Huajiyuan signed a strategic cooperation framework agreement, polyfluorinated new energy will provide Huajiyuan with customized manufacturing of large cylindrical cells, Longji Power investment in the construction of battery cell factory, to provide comprehensive supporting facilities for Huajiyuan, and then to create a closed loop of the upstream and downstream of the industrial chain.
It is reported that Huajiyuan is the core brand of Longji Power, with the production and sales of small power lithium batteries as its main business, and currently has two production bases in the country, more than 600 dealers nationwide, and an annual production capacity of 10GWh.
In recent years, through cooperation with leading domestic car companies, multi-fluorinated and multi-new energy battery products have covered the main BEV models of Chery, Wuling and other car companies in passenger car applications, with a total of more than 300,000 vehicles.
The battery business has blossomed in more places to accelerate the pace of going overseas
This year, it has reached cooperation with leading brands such as Emma, Huajiyuan, Wanyang, Jinpeng, Loncin, Xupai and other leading brands and well-known electric vehicle battery suppliers, and has been recognized by customers in the field of backup, battery replacement and home storage, and has actively cooperated with China Tower in sodium-ion batteries, lithium-ion batteries and cascade utilization. Polyfluorinated and multi-new energy has rapidly expanded the coverage of battery products in the market, and has formed a strategic layout of comprehensive rollout and multi-point flowering.
According to the data of the Power Battery Alliance, in the first quarter of this year, the cumulative installed capacity of power batteries in mainland China was 85.2GWh, a year-on-year increase of 29.4%. Among them, polyfluoride is the thirteenth in the loading volume of power battery loading enterprises.
At present, Duo Fluoride New Energy has two production bases in Jiaozuo, Henan Province and Nanning, Guangxi, with an effective production capacity of 10GWh and a production capacity of 15GWh under construction.
The battery network noted that on September 27, 2023, the groundbreaking ceremony of the second phase of the Nanning project of polyfluorinated and multi-new energy was held in Nanning, Guangxi.
Ningfu New Energy was established on July 26, 2021, relying on the multi-fluorine and multi-industrial foundation of the headquarters, conforming to the development trend of the new energy industry, implementing the development strategy of "new materials supporting new energy, new energy driving new materials" of the headquarters, and implementing the 20GWh lithium battery project. The project is divided into two phases, of which the first phase has a total investment of 2.9 billion yuan and a production capacity of 5GWh/year, which has been fully put into operation, and the second phase of the project has a total investment of 7.3 billion yuan and a production capacity of 15GWh/year.
According to the disclosure of polyfluoride, the company's battery business is currently mainly focused on three major market segments, including large-scale energy storage market, new energy vehicle market, and small energy storage market.
Since 2017, the company has cooperated to establish an energy storage industrial base overseas, with a complete customer structure and after-sales guarantee in the United States, Europe and other countries, and the order situation is good. In the domestic market, the company continues to promote the marketization of large-scale energy storage and industrial and commercial energy storage, and has formed long-term cooperation with a number of leading enterprises.
In terms of new energy vehicles, polyfluorinated and multi-new energy mainly adopts the product layout of fast-charging pouch batteries and all-tab large cylinders. NEW ENERGY VEHICLES WITH A CRUISING RANGE OF LESS THAN 400KM ARE MAINLY LITHIUM IRON PHOSPHATE AND SODIUM-ION BATTERIES, WHILE NEW ENERGY VEHICLES WITH A CRUISING RANGE OF MORE THAN 400KM ARE MAINLY DEPLOYED WITH HIGH-NICKEL AND SILICON-CARBON ANODES. At present, the company has reached long-term cooperation with many well-known domestic car companies, and its products have penetrated a variety of best-selling models.
In terms of the small energy storage market, polyfluorinated multi-new energy has multi-cylindrical battery cell products from 40 to 60 series, with excellent comprehensive performance such as power, low temperature and safety, and is mainly used in household energy storage, battery swapping, two-wheeled vehicles and other fields.
In addition, due to the advantages of low material cost and good low-temperature adaptability, sodium-ion batteries have broad application prospects in low-speed vehicles, two-wheeled vehicles and energy storage. Polyfluorinated New Energy began to research sodium hexafluorophosphate, the core material of sodium-ion batteries, in 2019, it has been successfully supplied to downstream customers in batches, in 2020, the key materials of positive and negative electrodes were developed in small scale, and in 2022, large cylindrical sodium-ion batteries began mass production, and in the same year, they were loaded into the winter standard test, and are jointly developing automotive power batteries with GM-Wuling.
Duofluoride said frankly that the sharp decline in lithium carbonate at this stage has led to the weakening of the cost advantage of sodium-ion batteries, and the company has postponed the progress of commercial production, but R&D and cost reduction are still in full swing.
It is worth mentioning that in terms of the next generation of batteries, Duofluoride mentioned in the investor conference a few days ago that the company maintains attention to solid-state batteries, and semi-solid-state batteries are carrying out research and development work;
According to the battery network, in March 2024, HNE, a subsidiary of Polyfluorinated Duo, signed a "joint venture agreement" with SBH to jointly invest in the establishment of a joint venture company in South Korea. The joint venture will produce lithium hexafluorophosphate products, which will be sold to SBH's global electrolyte plants. Prior to the establishment of the Korean joint venture, Duofluoride had already invested in KORE Power, an American energy storage company, and provided technical services and product support.
For the overseas layout, the senior executives of Polyfluoride mentioned at the investor exchange meeting that compared with the domestic market, the overseas market has broad prospects and the gross profit margin of products is also high, which provides the company with huge development opportunities. At this stage, the company has made a certain degree of progress in overseas markets such as South Korea, Europe and the United States, and other sectors will also accelerate the progress of going overseas in the future.
In the future, polyfluorinated new energy will accelerate the industrialization progress according to market demand and form a new profit growth point as soon as possible. The company integrates domestic and foreign resources, and the new energy battery business will be deployed in the global market, forming five pillars: Jiaozuo base, Nanning base, American base, Shanghai Research Institute and Singapore Research Institute.