The rapid development of the Ningde era quickly became a power battery giant

by:CTECHi     2021-09-25
In 2001, ATL successfully entered Apple's supply chain and provided it with lithium battery products. In 2011, ATL's automotive power division was spun off from the company, and Ningde Times New Energy Technology Co., Ltd. was established. In 2017, CATL reached the top of the global power battery shipment list for the first time. Listed on China A shares in 2018. CATL is the world's leading provider of power battery systems, centering on power battery systems, comprehensively deploying lithium battery materials and energy storage systems, and focusing on the development of power batteries and energy storage batteries. Power battery system products include batteries, modules/electric boxes and battery packs. The application areas cover new energy passenger vehicles, new energy commercial vehicles, and other new energy travel tools and non-road mobile machinery, etc., which can meet the requirements of start-stop, fast charging , Long life, long cruising range and many other functions, with the characteristics of high energy density, many cycles, safety and reliability. Energy storage system products include batteries, modules/electric boxes and battery cabinets, which can be used in the fields of power generation, transmission and distribution, and power consumption, with the functions of peak shaving and valley filling and load regulation. At present, participants in the power battery industry are mainly concentrated in China, Japan and South Korea. The Chinese power battery market accounts for more than 50% of the global power battery market, making it the largest single market for power batteries. According to SNEResearch statistics, the world's top ten power battery companies installed 40GWh in the first half of 2020, accounting for 94% of the global power battery installed capacity. The market concentration has further increased. The top three are LG Chem, CATL, and Panasonic. Growth profitability Operating income has grown rapidly, and it has developed into a global power battery giant in just a few years. The entire industry is still in its infancy. As the power battery industry matures, the company's gross profit margin is decreasing year by year, but it is higher than its peers. In the field of continuous technological advancement, the production of lithium batteries breaks the constraints of cost and quality, improves quality, reduces quality losses, shortens production cycles, higher quality, lower costs, and stronger competitive advantages. The company has ample operating cash flow, which can provide continuous financial support for the company's development. With stronger operating ability and profitability, more Ru0026D investment can be achieved. Core Competitiveness 1. Take the new energy to develop Dongfeng and quickly grow into a power battery giant. In 2019, it will account for 50% of the domestic share or 34% of the global share. It is a direct beneficiary of the great development of the power battery industry and has established a first-mover advantage . 2. Product quality, capacity scale and production cost advantages, higher yield and lower cost supply chain, are expected to be strong. Development trend 1. As a consumer product, the cost performance of automobiles is the fundamental factor. Compared with fuel vehicles, electric vehicles use power batteries to replace fuel engines and simplify the powertrain system of fuel vehicles. The cost difference also comes from this. Since the development of automobiles, the core link that determines the purchase cost, the cost of power batteries is still declining. At present, the average selling price of ternary power battery packs has reached 0.86 yuan/wh, and the average selling price of lithium iron phosphate power battery packs is 0.79 yuan/wh , A decrease of 69% and 73% respectively from 2014. The current cost of electric vehicles is still higher than that of fuel vehicles. However, under the current power battery price system and superimposed subsidies, some models have already shown cost-effective advantages on the purchase side. Costs continue to fall, and the competitive advantage will be greatly improved by then. 2. In Europe, with the tightening of carbon emissions and increasing subsidies, the sales of new energy vehicles are growing rapidly. Countries such as Norway, Germany, Sweden, the United Kingdom, and France will gradually ban the sale of fuel vehicles from 2030 to 2040. 3. Since 2019, car companies such as Volkswagen, BMW, and Mercedes-Benz have launched electrification strategies. Taking 2020 as the strategic starting point, they will fully develop the pure electric vehicle market. According to statistics, among the ten mainstream automobile groups, Volkswagen, Ford, Dailem, FCA, Hyundai Kia and GM announced specific investment amounts, totaling more than 170 billion U.S. dollars (equivalent to RMB 1.24 trillion), which is twice the total output value of the current new energy vehicle industry chain. In the golden 10 years, it is expected to become the main force in the new energy vehicle market. 4. In my country, according to the 'New Energy Vehicle Industry Development Plan (2021-2035)' (draft for comments) issued by the Ministry of Industry and Information Technology in December 2019, my country's planned sales of new energy vehicles will account for about 20% by 2025. In the first half of 2020, my country's new energy vehicle sales volume is 393,000, accounting for only 3.8% of all vehicle sales. The new energy vehicle industry has a bright future. 5. The intelligentization of automobiles has become one of the mainstream trends in future development. The intelligent technology represented by autonomous driving technology is constantly iteratively upgraded, which can effectively realize real-time monitoring of commercial vehicle operation and safe driving, and greatly improve economic efficiency. 6. Due to continuous improvements in safety, performance and cost, the competitiveness of electric vehicles has gradually improved. It is becoming increasingly clear that new energy vehicles will replace traditional fuel vehicles on a global scale. Countries have defined policy boundaries through carbon emissions, double credits, and fuel bans. Measures and direct subsidies are used to promote the development of electric vehicles. In 2019, the global new energy vehicle market penetration rate was only 2.5%. It is still in the early stage of development, and there is huge room for future growth. 7. The production barrier of power battery is the accumulation of technology in each link. The technology is updated and iterated quickly, and the development direction is uncertain. Continuous Ru0026D investment is the key. 8. The energy storage system industry is still in the early stages of development. The rapid advancement of wind power, photovoltaic and other renewable energy technologies has reduced costs, significantly improved the economy of power generation, and the installed capacity of renewable energy has grown rapidly, and the demand for supporting energy storage batteries has also been rapid increase.
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