BYD electric car lithium battery installed capacity re-topped

After a year, BYD (002594, SZ; 01011, HK) installed capacity again. On the evening of May 20, the statistics released by True Lithium Research showed that in April 2018, China's electric vehicle market achieved 3.69Gwh of lithium-ion installed capacity, an increase of 261.56% year-on-year and an increase of 68.67%. Judging from the installed capacity of battery companies, BYD reached the top with a installed capacity of 1.32Gwh in April, accounting for 35.78%. This is BYD's monthly installed capacity surpassing the Ningde era in the first place after a lapse of one year.

"Daily Economic News" reporter noted that in the April installed data, Ningde era ranked second with 1.25Gwh installed capacity, accounting for 33.74%, which also means that the situation of monopolizing half of market share this year has been broken. Specifically, in April installed capacity, BYD lithium iron phosphate battery installed capacity is 577.66Mwh, NCM ternary battery installed capacity is 742.5Mwh, while Ningde era lithium iron phosphate battery installed capacity is 470.91Mwh, NCM ternary battery installed capacity At 774.22Mwh.

The two giants "chasing game"

According to the installed data of the first four months of this year, the Ningde era continued to rank first with a total installed capacity of 3.54Gwh, but the market share has dropped to 43.07% compared with 50.64% in the first quarter. BYD 1.99GWh accounted for 24.18%, ranking second, compared with 14.76% in the first quarter, the market share increased by nearly 10%, in the fast-opening gap with the Ningde era.

In the domestic lithium-power battery enterprise market, although BYD's battery business was earlier than the Ningde era, its closed system allowed the latter to quickly occupy the market, and the power battery shipments were surpassed by the Ningde era in 2017. In the investor relations record released on May 7, BYD said in an investigation by institutional investors that the company already has some batteries for sale, and some customers are negotiating.

In the 2017 board work report, Jianrui Woneng mentioned that in 2017, with the national policy for the liberalization of the application of ternary lithium batteries in the passenger car field and the subsidy policy, the high-energy density power battery is gradually inclined, making the ternary lithium battery Shipments are rapidly expanding, and their market share is gradually approaching lithium iron phosphate batteries. With the introduction of the latest subsidy policy in 2018, it further indicates that the future ternary lithium battery will truly become the protagonist of the power battery market.

The data shows that from the perspective of various types of lithium batteries, from January to April this year, NCM ternary battery installed at 5.07Gwh accounted for 61.65%, ranking first, and lithium iron phosphate battery at 2.98Gwh accounting for 36.23%, ranking second. Position, market share has shrunk to less than 40%.

BYD also disclosed in the investor relations activity record table that as of the end of 2017, the total capacity of the power battery is 16Gwh including 6Gwh ternary battery and 10Gwh lithium iron phosphate battery. This year will also expand the production of 10Gwh ternary batteries. The total capacity will reach 26Gwh.

Korean power battery is coming back

"The power industry pattern has basically stabilized, and now the competition is product quality and technology." Hui Wu, research director of the Ivey Economic Research Institute, said in an interview with the reporter of "Daily Economic News".

Although the pattern of domestic battery manufacturers is basically stable, it is likely to face another impact, that is, the “returning” of Japanese and Korean batteries. Since April, Korean battery companies, including Samsung and LG, have broken the silence and launched a new round of investment in China.

On April 11, the listed company Huayou Cobalt announced that it plans to jointly invest 4 billion Yuan with LG Chem to establish two joint ventures to produce lithium battery materials. The two parties will each hold one of the joint ventures.

On May 2nd, Samsung Electronics Vice President Zaiyu Li visited BYD in Shenzhen. Regarding the content of the negotiations, both parties refused to disclose the details and attracted outside speculation.

Many people in the industry believe that in the past few years, Japanese and Korean power battery companies have also invested heavily in China, intending to seize the Chinese market, but since 2016, Japan and South Korea's power battery is almost completely defeated in China, which is therefore directly It has contributed to the rapid growth of the share of Chinese local battery companies.

The main reason for the "comeback" of Japanese and south Korean battery manufacturers is that after the elimination of subsidies for new energy vehicles in 2020, China will open up to Japanese and south Korean battery manufacturers, which means there are still two or three years left. If the investment is started now, the batteries can be sold to the outside world by 2020.

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