Source: Photo.com
According to the official WeChat account of the Management Committee of the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as the "official WeChat account of the Shanghai Lingang Management Committee") on May 13, the construction permit for Tesla's Shanghai energy storage super factory construction project has been completed.
At present, the energy storage super factory construction project has successively obtained a series of approvals and issuances such as housing construction projects, land transfer, project environmental impact assessment, and construction permits. It is reported that the project is located in Nanhui New Town, Pudong New Area, east to the N01-08 plot, west to the N01-05 production protection green space, south to Canghai Road, north to Wanshui Road, with a total area of about 200,000 square meters and a total investment of about 1.45 billion yuan, close to Tesla's Shanghai Gigafactory.
According to the official account of "Pudong Release", the Shanghai energy storage super factory will start construction in May 2024 and complete mass production in the first quarter of 2025, planning to produce ultra-large commercial energy storage battery Megapack.
From the perspective of the time node of the project promotion, on April 9, 2023, Tesla signed a contract with Lingang New Area for the Tesla energy storage super factory project. On December 22 of the same year, Tesla held a signing ceremony for land acquisition with the Administrative Committee of Lingang New Area in Shanghai, announcing the opening of Tesla's energy storage gigafactory project.
It is reported that the super factory initially plans to produce 10,000 commercial energy storage batteries per year, with an energy storage scale of nearly 40GWh.
Panorama of China's energy storage battery industry chain
From the perspective of the industrial chain, in the upstream field, the representative enterprises of battery cell raw materials include German Nano, Guizhou Anda, Beiteri, Tianci Materials, Enjie Co., Ltd., Xingyuan Materials and other companies; Battery production equipment manufacturers include Hangke Technology, Pilot Intelligence, North Huachuang, Yinghe Technology and other enterprises. In the middle of the industrial chain, the representative enterprises of battery pack manufacturing include CATL, BYD, Haiji New Energy, Guoxuan Hi-Tech, etc.; The representative enterprises of battery management system manufacturing include science and industry electronics, Gaote electronics, Gaotai Haoneng, etc.; The representative enterprises of energy storage converter manufacturing include Yangxian Power Supply, Kehua Hengsheng, NARI Jibao, etc.; The representative enterprises of energy management system manufacturing include Peneng Technology, Guodian NARI, Zhongtian Technology, Pinggao Electric, etc.; The representative enterprises of energy storage system integration include Cooper Energy, Mengshi Technology, Nandu Power Supply, Electric Guoxuan, etc.; The representative enterprises of energy storage system installation include Yongfu Co., Ltd., TBEA, Chint Electric, China Power Construction, China Energy Construction, etc. The representative enterprises of the downstream system application of the industrial chain mainly include National Energy, SDIC Power, China Huaneng, China National Nuclear Corporation, etc.
Business performance of representative enterprises in the energy storage battery industry
Among the representative enterprises in China's energy storage battery industry, CATL's energy storage battery system business has the highest revenue of 44.98 billion yuan; The gross profit margin of energy storage products of Paineng Technology is the highest, at 34.11%; In terms of production capacity, as of June 2023, CATL's battery system production capacity is 254GWh/year.
Note: The above marked "*" is for 2021 data, "**" is for the first half of 2023, and the rest is for 2022.
In 2029, energy storage battery shipments may exceed 1500GWh
With the increase of policy support, the commercialization of the power system, and the maturity of the business model, the installed capacity of energy storage lithium batteries will maintain accelerated growth, and energy storage lithium batteries are expected to enter an accelerated period of commercialization during the 14th Five-Year Plan period. According to the forecast of the Lithium Battery Research Institute (GGII), China's energy storage lithium battery shipments are expected to reach 430GWh by 2025, with an average annual compound growth rate of about 50%. Combined with the growth of the global energy storage battery market, it is expected that by 2029, China's energy storage battery shipments are expected to reach 1551GWh, with an average annual compound growth rate of about 40% from 2024 to 2029.
Yang Yusheng, an academician of the Chinese Academy of Engineering, believes that in order to achieve carbon neutrality, it is necessary to develop safe, efficient, long-lived and cheap new energy storage batteries, which is an extremely difficult scientific project and must be immediately planned as a whole. Even if research and development starts now, it will only be around 2040 that new, more comprehensive large-scale energy storage batteries can be used.
On the whole, the mainland energy storage battery industry has broad prospects and is full of huge development potential. With the rapid development of renewable energy and the transformation of the power system, energy storage batteries will play an increasingly important role as a key energy storage and dispatch technology. The mainland government has introduced a series of supportive policies, including financial subsidies, tax incentives and market access, to promote the research and development and application of energy storage batteries. At the same time, the mainland has a huge market demand and manufacturing capacity, which provides huge development opportunities for the energy storage battery industry. With the continuous innovation of technology and the further reduction of costs, the energy storage battery industry in China is expected to usher in explosive growth and make important contributions to energy transition and sustainable development.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Market Prospect and Investment Strategic Planning Analysis Report of China's Energy Storage Battery Industry" by Qianzhan Industry Research Institute
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