China Top9 Power Battery Company Technology, Capacity and Customer Map

In terms of power battery shipments in 2017, the Ningde era alone dominated nearly 30% of the market, followed by BYD. The total installed capacity of the top 20 power battery companies was approximately 28.86 GWh, accounting for 86.02% of the total. Only Ningde Times and BYD have a 45% share of the power battery market. Whether through the listing or split, the powerful giants will further enhance their competitiveness by expanding their scale and technological advantages. The stronger the stronger, the weaker the smaller Mini battery companies can't escape the fate of being swallowed up.

Public information shows that the Ningde era expanded to 50GWh in 2020, BYD expanded to 26GWh in 2018, Tianjin Lishen expanded to 20GWh in 2020, Yiwei Lithium expanded to 9GWh in 2017, and Far East Foster expanded in 2018 Up to 22GWh, Wultema expands to 20GWh in 2017, totaling a total of 147GWh.

According to the forecast of the Ministry of Industry and Information Technology, the total demand for domestic power lithium batteries will reach 90GWh by 2020, and by 2025, the demand for power batteries will reach 310GWh. Lithium iron phosphate batteries will face serious overcapacity in the next 1 to 2 years. Triad lithium batteries have overcapacity in stages and there is still room for growth in the medium and long term.

(a) Ningde Times

Market recognized "unicorn" industry, valuation has exceeded 100 billion yuan. As of 2017, the net asset of Ningde Times was 26.471 billion yuan. In 2017, it achieved operating revenue of 19.997 billion yuan, net profit of 4.288 billion yuan, and total lithium battery capacity of 17.09 GWh.

The data shows that the top five global power battery sales in 2017 were Ningde, Matsushita Electric, BYD, Waterma and LG Chemical, with sales of 11.84 GWh, 10 GWh, 7.2 GWh, 5.5 GWh, and 4.5 GWh, respectively. The steady growth of major customers Beiqi New Energy, Geely, and Yutong New Energy Bus has achieved sales in the Ningde era.

Table 6-11 List of sales of global power battery companies in 2017

(Source: Energy Storage Application Branch)

Customer Development. The company maintains long-term strategic cooperation with Yutong Group, SAIC, BAIC Group, Geely Group, Fuqi Group, China Motor Group, Dongfeng Group and Changan Group. In terms of international brand customers, the company has entered BMW, The supply system of Volkswagen and other international first-class automakers (Note: The company is the only supplier of Volkswagen MEB in China, a world-leading power battery supplier), and it is also one of the few suppliers of power battery solutions for international auto brands.

At the same time, the company has cooperated with emerging vehicle companies such as Weilai Automobile (including Internet car companies and smart car companies) to actively deploy smart cars. The company has the most extensive customer base in the industry. As of the end of 2017, the Ministry of Industry and Information Technology announced a total of more than 3,200 models of 12 new energy vehicle models, of which more than 500 vehicles are supported by the company’s power batteries, accounting for approximately 16% of the total. Power Battery Manufacturers.

Technical reserves. In 2017, the energy density of the square-shell batteries supplied in large quantities in the Ningde era was between 190 and 210 Wh/kg. By the end of 2018, it is likely to increase to 210 to 230 Wh/kg; and the joint declaration with the Institute of Physics of the Chinese Academy of Sciences The new-generation lithium-ion power battery industrialization technology development project was launched. The research and development of a lithium-ion power battery with a high-nickel ternary material as the positive electrode and a silicon-carbon composite as the negative electrode can increase the specific energy of lithium-ion power batteries from the current 150- 180Wh/kg increased significantly to more than 300Wh/kg.

Capacity expansion. In October 2016, the company plans to invest 10 billion yuan in the construction of a 10 GWh battery production line (of which 7 GWh is a battery cell) in Jiangsu Liyang, with a unit capacity investment of 1.43 billion yuan/GWh. In addition, the company's prospectus shows that after the fund-raising project “Ningde Times Huxi Lithium-ion Power Battery Production Base Project” has reached production, the company will add 24GWh of new production capacity.

(B) BYD

In 2017, BYD achieved operating revenue of 105.895 billion yuan, an increase of 2.34% year-on-year, operating profit of 5.434 billion yuan, and current market value of about 150 billion yuan. As of the end of 2017, the total production capacity of BYD's power batteries was 16GWh, of which lithium iron phosphate batteries accounted for 9GWh and lithium-ion batteries accounted for 7GWh.

Business status. In 2017, the new energy automotive industry maintained a good momentum of development, and the Group’s new energy automotive business continued to maintain its leading position in the industry, and once again won the championship of global sales of new energy vehicles. During the year, sales and revenues of the Group’s traditional automotive business declined, bringing some pressure on the Group’s earnings growth. However, after the listing of the new model, Song MAX, the market responded strongly and demand was strong, leading the Group’s traditional automotive business to gradually ebb out of a trough. In addition, the cloud track business has started to bring certain revenue contribution to the Group in the second half of 2017.

Capacity expansion. In order to further expand its production capacity, the company has also established a new 18GWh Sanyuan battery production base in Qinghai, which is expected to be officially put into production in mid-2019. As a result, BYD's planned production capacity will reach 34GWh, lithium iron phosphate batteries will account for 9GWh, and three-element lithium batteries will account for 25GWh. For power batteries, BYD plans to increase the capacity of 10 GWh ternary batteries by 2018, and the total capacity will reach 26 GWh by the end of 2018.

(III) Guoxuan Hi-Tech

In 2017, Guoxuan Hi-tech Co., Ltd. achieved operating income of 5.048 billion yuan, a year-on-year increase of 6.10%, an operating profit of 1.106 billion yuan, and a current market value of approximately 25 billion yuan. In 2017, Guoxuan Hi-tech Co., Ltd. already has a production capacity of 3GWh ternary batteries and 7GWh lithium iron phosphate batteries.

Customer Development. At present, Guoxuan Hi-Tech has formed close cooperation with many auto companies such as Beijing New Energy, Beijing Automotive Changzhou, Ankai Bus, Jianghuai Auto, Chengdu Dayun, Chery Automobile and Nanjing Jinlong.

Technical aspects. Guoxuan Hi-Tech Co., Ltd. undertook the National Ministry of Science and Technology's 300wh/kg high energy density major science and technology project. The company has successfully developed a ternary 811 soft-pack cell with an energy density of 302wh/kg. The company has now begun to build a pilot line for related products. It is planned to begin construction of the production line in 2019. In addition, the company has independently developed lithium iron phosphate cathode materials, mass production of 32131 high-energy density cylindrical lithium iron phosphate reached 170wh/kg this year, and the laboratory development product has reached the current energy density of 190wh/kg, leading the performance index industry, the company will As soon as possible to the scale of production. In response to the passenger car market in 2018, Guoxuan Hi-tech Co., Ltd. has begun to deploy production systems with a system energy density of 160Wh/kg ternary battery system. The company has already introduced a standardized battery system for 140Wh/kg commercial vehicles based on lithium iron phosphate materials in the market. In 2018, it is also expected to introduce a 145Wh/kg lithium iron phosphate battery system.

Capacity expansion. Guoxuan Hi-tech's existing production line is expected to produce 6.5 GWh of power battery in 2018, and 6-7 GWh of production line will be put into production in the first half of 2018, of which the Sanyuan 622 production line will be 5 GWh. It is expected that the company's power battery production will reach 8-9GWh in 2018, and the company's overall capacity will reach 13-14GWh by the end of 2018, and it will reach 30GWh capacity level by the end of 2020.

(d) Fuenergy Technology

Fuxin Technology was established in Ganzhou, Jiangxi Province in 2009 to develop and produce new materials, new energy storage systems, and new energy vehicle power battery systems. In 2010, Fuengeng Technology achieved the industrialization of lithium-ion power batteries for new energy vehicles. In 2017, the total number of battery installations for passenger vehicles by Fuengeng was 43,700 units, ranking the top three in domestic battery supply. Energy, JMC.

At present, the company's annual production capacity has grown from 150MWh in 2010 to nearly 5GWh, becoming one of the major manufacturers of power batteries for new energy vehicles in China. According to the plan, by the year 2020, Fuengeng Technology will form a power battery production base with an annual capacity of 40GWh.

(five) God batteries

In 2017, Lishen Battery passed the audit of Daimler Supplier, completed the construction of the Tianjin Phase 6 investment project, completed the first phase of production in Suzhou, and started the construction of the Qingdao Base. It has a production capacity of 10 billion watt-hours and completed 3 billion yuan. Capital increase.

Lishen Battery owns several production bases and subsidiaries in China, including Tianjin headquarters, Suzhou Lishen, Qingdao Lishen, Wuhan Lishen, Beijing Lishen, Mianyang Lishen, and Shiyan base. Among them, after the Tianjin phase 6 plant was officially completed and put into production on November 18, 2017, Tianjin had an annual production capacity of 5.6 GWh of lithium-ion battery; Suzhou Lishen was officially completed and put into operation on July 20, 2017, and initially formed. The annual production capacity of lithium-ion battery of 44 billion watt-hours; Qingdao Lishen started construction on May 16, 2017, and is expected to be completed and put into operation in the second half of 2018. The annual production capacity after the production is 4 billion watt-hours. Shiyan Base signed Dongfeng Lishen Power Battery System Project Agreement with Dongfeng Industry Co., Ltd. The planned production capacity is 3 billion MWh per year of power battery system, which mainly provides power battery system for Dongfeng Group's new energy vehicles. In addition, in the international market, branch offices and sales bases are established in the United States and Europe.

Technical reserves. In 2018, in terms of increasing energy density, the company adopted a surface-treated high-nickel ternary composite material and a high-voltage cathode material, and the negative electrode used a low-expansion silicon-graphite composite material, combined with auxiliary materials such as a foil and a shell cover. Quantitative implementation. At the same time, the manufacturing method and size of the battery core can also be optimized, the space utilization of the internal structure can be improved, and the energy density of the battery core can be comprehensively improved. The energy density of the modules and systems is increased through module simulation, system simulation, standardization, and weight reduction. The 21700 products produced by Suzhou Lishen have lower manufacturing costs, better power performance, and superior product consistency than the industry's traditional 18650 batteries. Selecting 21,700 products as a product solution enables Suzhou Lishen to successfully avoid the harsh price war in the 18650 market through differentiated competition.

Capacity expansion. To fully enhance the development of new energy industries, Lishen Battery will accelerate the investment and construction of power battery projects. Lishen Battery plans to generate 30 billion watt-hours of annual production capacity of the power battery by 2020, and 60 billion megawatt-hours of annual production capacity of the power battery by 2025. It is committed to becoming a green energy solution provider for all applications.

(6) Others

1 BAK

BAK's two production bases in Shenzhen and Zhengzhou have a total annual production capacity of 8GWh. In 2018, the production capacity will increase to 12GWh. By 2020, BAK's total annual production capacity will reach 20GWh.

As one of the few companies in the country that specializes in cylindrical power batteries, its 2.75Ah power battery cell (18650) has an energy density of 240Wh/Kg, and it plans to achieve 300Wh/kg by 2020. BAK is also committed to the research and development of high energy ratio 21700 cylindrical power battery cells, compared to 18650 products, BAK 21700 monomer energy density increased by 35%, currently has mass production capacity, is expected to achieve mass production in 2018 .

2 Credits

Lixin Zhenjiang Base, with a total investment of RMB 3 billion, an annual production capacity of 4 billion watt-hour lithium-ion power batteries for vehicles and new energy storage batteries, forming a supporting capacity of 200,000 new energy vehicles and supporting production capacity of at least 1GWh of energy storage systems . In addition, the company's Jinzhai plant project in Anhui Province was officially put into operation at the end of 2018, with an annual production capacity of 4 billion WH. It is expected that the capacity will reach 8GWH in 2018.

The current production base is mainly concentrated in five major regional cities such as South China, Central China, North China, Southwest China, and Northeast China. It participates in operations and infrastructure construction at a proper time, and uses battery ladder utilization and material recycling to obtain the value of the battery life cycle. At the same time, the company is actively deploying its markets in Europe, the Americas, and Asia to build global R&D and module/system production units.

Reliance Energy plans to enter the world's top three lithium-ion power battery companies by 2030. At the same time, the company will implement its targets in three phases. By the end of 2018, the company will complete 4 billion WH production capacity, 100,000 vehicles or more, or 4 GWH storage vehicle sales, achieving a company performance of over 5 billion yuan, and a market share of over 5 %; In 2021, to complete 20 billion WH production capacity, annual sales of more than 250,000 vehicles or 20GWH auxiliary vehicles, to achieve a company performance of over 30 billion yuan, the company's market share exceeds 10%; in 2030, to complete 50 billion WH Capacity, sales of 500,000 units or more, or 50 GWH or more of energy-storage vehicles, achieving a company performance of over 100 billion yuan, and a market share of over 20%.

3 Ouyang Shunchang

The company’s lithium battery segment Tianpeng Power has developed rapidly. Its power lithium battery system actually shipped 30,000 sets of passenger cars in 2017. The company’s existing production capacity is 3GWh, and its daily production capacity is 1 million cells.

Customer Development. In 2018, through the cooperation with Huasheng Power, it also matched more passenger car companies. In the past, Tianpeng and Kangdi, Zhongtai and other key companies in the field of car cooperation. In 2018, two high nickel NCA products will be placed on SAIC-GM-Wuling and Zhidou passenger vehicles. The monomer energy density will reach 240Wh/kg, and the PACK energy density will reach 160Wh/kg.

product development. The company's 2.65Ah and 3.0Ah batteries were all mass-produced in the fourth quarter of last year. The pass rate has reached the original 523 level. The corresponding package energy density 140-160Wh/kg. In the second quarter of 2019, the two new production lines will produce 21,700. In the second half of 2018, they will supply samples to the depots. In the second quarter of 2019, they will start to supply the depots in batches, and will directly make the NCA high-nickel alloy system. Do not shake.

Capacity planning. The planned production capacity in the future is to use the existing factory buildings, and 2GWh of Phase 2 of the Second Plant, 3GW of Phase 3, and a total of 21,700 high-nickel-powered batteries. The project has already started construction, and will be mass-produced in the second quarter of 2019.

4 Zhonghang Lithium

At present, CNAC Lithium has two production bases in Luoyang and Jiangsu. Luoyang Zhonghang Lithium Power Base has completed the construction of the Luoyang Phase III Industrial Park with an additional capacity of 1.5 billion watt-hours and a total capacity of 2.5 billion watt-hours in the Luoyang Park; Jiangsu Zhonghang Lithium Power Base completed the first phase of construction of the Jiangsu Industrial Park at the end of 2016 with new capacity 25 billion watt-hours; by the end of 2018, plans to complete the construction of the second phase of Jiangsu Industrial Park with an increase in production capacity of 7 billion watt-hours; and by the end of 2020, it is expected to complete the construction of the third phase of the Jiangsu Industrial Park with an additional capacity of 2.5 billion watt-hours. Will reach 12 billion watt-hours.

CNAC lithium battery adopts LiFePO4, ternary two system battery routes, NCM+LMFP compound cathode material blending technology, ceramic diaphragm technology, functional electrolyte synthesis technology, multi-stage ear winding process, negative electrode coating modification technology, Pole piece insulation coating technology and other advanced technology.