To strengthen the car battery business, Xinwangda takes another path

On the road of realizing the counterattack of the car battery business, Xinwangda chose another way. On August 11, Xinwangda announced a notice stating that Xinwangda Electric Vehicle Battery Co., Ltd. (hereinafter referred to as 'Xinwangda Electric Vehicle'), a wholly-owned subsidiary of the company, has recently received Dongfeng Liuzhou Automobile Co., Ltd. (hereinafter referred to as ' 'Dongfeng Liuqi') notification letter regarding the selection results of the Dongfeng Liuqi project product supplier, the company was formally selected as the Dongfeng Liuqi parts synchronous development supplier to supply the power lithium battery assembly products of the hybrid electric (HEV) system. In June of this year, Xinwangda also announced a notice that the company and Nissan will jointly develop the next-generation car battery suitable for Nissan's e-POWER intelligent charging technology models. It is reported that it is also an HEV battery. 01 HEV model market that cannot be ignored In the past few years, under the guidance of policies, domestic car companies and battery companies have focused their research and development on pure electric vehicle (BEV) models and supporting power lithium battery products. There are few battery companies in China. The focus on the layout of HEV batteries has also created a gap between domestic battery production companies and foreign outstanding companies in HEV batteries. According to people familiar with the matter, HEV models have higher requirements for battery technology than BEV. At present, the only companies in the world that can develop and mass-produce supporting HEV batteries are PEVE (a Toyota subsidiary), Panasonic, Hitachi, BlueEnergy, LG Chem, etc. , Xinwangda is one of the representatives of domestic HEV battery production companies. 'In the past few years, the state's policy support for new energy vehicles has been mainly given to pure electric vehicles, which objectively drives the flow of funds to electric vehicles. The company focuses on the development of pure electric vehicles, and industrial funds also flow to electric vehicles.' According to the industry Analysts pointed out that, on the other hand, Japanese companies represented by Toyota, Honda, and Nissan hold most of the technical patents of HEV, and they have almost formed a technology monopoly. It is very difficult for domestic companies to break the situation. Therefore, HEV models have a low voice in the domestic market. Battery production companies also invest relatively little effort. It is worth noting that the recently announced revised 'dual points' policy clearly proposes to support HEV models with good fuel-saving effects. The 'correction' of the policy seems to usher in the dawn of HEV models in the domestic market. In fact, we can see from the data of domestic and foreign car companies in recent years that HEV models will still have a very large market in the future. Industry data shows that in 2018, the global HEV market sales exceeded 2.6 million, an increase of 11% year-on-year. Important markets are Japan, Europe, the United States, and my country, with sales of 1.43 million, 610,000, 360,000, and 210,000 respectively. Among them, Europe increased by 34% year-on-year. The sales volume of Q1-Q3 in Europe in 2019 was 648 thousand, which has surpassed the sales volume of the whole year of 2018, an increase of 39%. Looking at global car companies, mainstream car companies have layouts for HEV models. Volkswagen plans to launch 75 BEVs and 60 HEVs by 2029; Toyota plans to sell 5.5 million new energy vehicles in 2025, of which HEV and PHEV sales will exceed 4 million; Hyundai-Kia plans to develop 44 new models by 2025 Energy vehicles, 13 other HEV models, 6 PHEV models; Nissan plans to sell 1 million electric vehicles in 2023, of which HEV accounts for more than half. Domestically, in 2015, my country's HEV production was 10,774. By 2019, this number had jumped to 235,408, a 20-fold increase in 4 years. It can be seen that the recognition and acceptance of HEV models in the Chinese market is also rapidly increasing. 02 The HEV market has huge potential for 'recovering' battery demand. With the rapid rise of HEV models, the demand for HEV batteries has also 'increased.' It is worth noting that there are many differences between HEV power lithium batteries and BEV power lithium batteries: First, BEVs are generally configured with more than 50kWh to ensure a battery life of more than 400 kilometers; but HEVs are only 1-2kWh, and the SOC range is only 30%-70 %, so high energy density batteries can guarantee stronger power performance; second, HEV batteries require high power performance, generally greater than 5000W/kg to meet the needs of rapid charge and discharge; third, HEV battery cycle life Reached more than 10,000 times, while BEV is generally about 2000 times; fourth, in terms of the difficulty of battery development and product quality control, HEV batteries are far higher than BEV batteries; fifth, HEV batteries have low power consumption and higher Ru0026D and manufacturing costs. Challenging, this is also an important consideration for most battery production companies to develop BEV batteries and not get involved in HEV batteries. The other side of the challenge is the opportunity. The 'segmented field' is a potentially huge market. This year, the performance of many cylindrical battery production companies in the power tools, electric two-wheeled vehicles and smart wearable markets has also confirmed this.