Power battery enterprise expansion 'cannot stop' in January, lithium iron phosphate increased nearly five times year-on-year

On February 23, the China Automotive Power Battery Industry Innovation Alliance released the monthly data of power batteries for January 2021. In January this year, my country's power battery output totaled 12.0GWh, a year-on-year increase of 317.2%. From the year-on-year growth rate, lithium iron phosphate batteries continue to be larger than ternary batteries; the output of ternary batteries is 6.8GWh, an increase of 241.6% year-on-year, and a decrease of 19.4% month-on-month; the output of lithium iron phosphate batteries is 5.2GWh, an increase of 493.6% year-on-year, and a decrease of 20.3% month-on-month. . Entering 2021, power battery companies have begun to continuously expand production. 'Under the background of the accelerated outbreak of the new energy vehicle market, market demand has increased significantly, and orders for power battery companies have soared. The overall industry has an obvious upward trend, and the leading companies are basically reaching full production.' Longzhong Information Cobalt Industry Analyst Zhao Chaoxiang 'Securities Daily' reporter said that the current production and sales of new energy vehicles are still in a period of steadily increasing, and it is expected that the sales of new energy vehicles will reach 1.85 million in 2021, a year-on-year increase of 42%. In the medium and long term, the demand for power batteries is increasing, and companies such as CATL, BYD, and AVIC Lithium Battery have expanded their production in response to the upcoming peak demand. Based on the continuous improvement in the prosperity of the new energy vehicle market and the blowout of the power battery market demand, this situation may continue for 3 to 5 years. Lithium iron phosphate continues to be popular. The data also shows that from the perspective of installed capacity, the installed capacity of ternary batteries and lithium iron phosphate batteries were 5.4GWh and 3.3GWh, respectively, up 241.9% and 349.8% year-on-year. From this data, it is not difficult to find that lithium iron phosphate batteries continue to be popular. The Ministry of Industry and Information Technology disclosed that there are 37 passenger car models in the first batch of promotion and application catalogs in 2021, 29 pure electric models, 8 plug-in hybrid models, of which 19 models are equipped with ternary batteries, accounting for 51.4%, and 18 models are equipped with lithium iron phosphate batteries. , Accounting for 48.6%. A total of 115 models were promoted, of which 85 models were equipped with lithium iron phosphate batteries, accounting for 73.9%. 'The mainstream products of most companies now choose to carry lithium iron phosphate as the standard entry-level model configuration.' Gasgoo Research Institute researcher Wang Xianbin told the 'Securities Daily' reporter that Tesla is like this, and more companies will do the same in the future. , The cost is cheap, and the safety is high. In this regard, Zhao Chao also told the 'Securities Daily' reporter that the cycle performance of lithium iron phosphate is good, which can reach about 3500-4000 times, while the three yuan can reach about 1500-2000 times, with a long service life, plus iron After the lithium energy density continues to increase, the advantages are more obvious. The raw materials of ternary lithium battery cobalt, lithium, and nickel have risen sharply, especially when subsidies have declined. This is also the main reason why car companies switch to lithium iron phosphate in order to reduce costs and increase efficiency. At the same time, driven by 5G and commercial reserves, China's energy storage market has also continued to develop, which has also drawn a new blueprint for lithium iron phosphate. Power battery companies continue to expand production. Entering 2021, many power battery companies have released expansion plans. On the evening of February 2, CATL announced that it plans to invest a total of 29 billion yuan to build three production bases in Zhaoqing, Sichuan, Yibin, Sichuan, and Ningde, Fujian. It is expected to increase production capacity by 79GWh. On February 19, Yiwei Lithium released an announcement stating that it agreed to the wholly-owned subsidiary Huizhou Yiwei Power Battery Co., Ltd., a wholly-owned subsidiary of Yiwei Power Hong Kong Co., Ltd., to invest in the construction of 'Passenger Vehicle Lithium The investment amount of 'Ion Power Battery Project (Phase I)' and 'xHEV Battery System Project (Phase I)' are no more than 1 billion yuan and 2.6 billion yuan respectively. In addition, power battery companies such as BYD, AVIC Lithium Battery, and Guoxuan Hi-Tech are all accelerating production expansion. The accelerated expansion of power battery companies is related to the significant increase in downstream consumption of new energy vehicles. In January of this year, the domestic sales of new energy vehicles was 179,200, a year-on-year increase of 286.38%. Among them, the sales volume of pure electric vehicles was 150,600 units, a year-on-year increase of 350.20%. At the same time, many places across the country have promulgated the 'New Year's Day' policy, which has further promoted the new energy vehicle consumer market. According to JD.com's big data, during the Spring Festival, orders for new energy vehicles and some other products in first-tier cities increased by 10 to 20 times year-on-year. Zhang Xiang, a member of the new energy and intelligent networked automobile industry expert think tank of the Ministry of Industry and Information Technology, told the 'Securities Daily' reporter that according to the plan, the sales of new energy vehicles will increase a lot this year. The goal is to reach 30 million vehicles throughout the year by 2025, and new energy vehicles will account for 20% of the total. That is to say, it will reach 6 million vehicles in 2025. Last year, the sales of new energy vehicles will reach 1.36 million vehicles. The annual growth rate is 900,000, and the sales volume this year will reach 2.2 million. Therefore, battery manufacturers are expanding their production.