What are the global power battery giants?

The global electric vehicle industry is surging, and the upstream power battery industry directly benefits, and its development potential is huge. It is foreseeable that the future power battery market will exceed the trillion scales, and the giant company with a market value of over one trillion will also be born in this field.

The international giants are eye-catching, and many industry capitals and industrial funds have poured in. Whether it is international or domestic, the power battery industry is experiencing a double-day situation under the stirring of multiple factors.

On the one hand, the rapid development of the new energy automobile industry has greatly stimulated the market demand for power batteries. The upstream and downstream industries of power batteries, including cathode materials, anode materials, separators, and electrolytes, have a lot of capital madness.

According to statistics, in the first half of 2017 alone, there were more than 50 investment projects in the field of power batteries in China, with a total investment of 91.196 billion Yuan. Among them, there are 30 power lithium battery projects with an investment of 67.627 billion Yuan; 16 positive and negative materials projects with an investment of 18.319 billion Yuan; and 6 electrolyte and membrane projects with an investment of 6.05 billion Yuan.

It is an indisputable fact that crazy investment has led to overcapacity. Taking China as an example, the cumulative installed capacity of domestic new energy vehicle power batteries in the first ten months of this year is 18.1GWh, while the domestic power battery capacity has exceeded 200GWh.

On the other hand, under the dual pressure of upstream raw material price hikes and downstream automakers' price cuts, the knockouts of power battery manufacturers have entered a countdown, and the industry has concentrated on the top leaders in the industry.

Taking the Chinese market as an example, the power battery companies that have entered the catalogue of the Ministry of Industry and Information Technology in the catalogue of the Ministry of Industry and Information Technology have more than 200 in 2016, and have rapidly dropped to more than 90 today.

In 2016, among the global power battery shipments, Japan, South Korea's Panasonic, LG, and Samsung SDI accounted for more than 30% of the market share. China's top three power battery companies also accounted for more than half of the market, and this trend will also Continue to expand.

Polarization has led to the maintenance of technical barriers, cost advantages (depending on size, technology and industrial chain layout) and customer barriers have formed the industry's main moat, Panasonic, LG, Samsung SDI technology and cost leadership will be long in the future Play a role for a period of time and continue to maintain strong competitiveness on a global scale. With the further liberalization of the Chinese market, it is highly probable that the giants will enter the Chinese market in a big way and seize the market share of domestic enterprises.

In China, domestic battery companies are taking the monopoly development represented by BYD, Ningde era, Guoxuan Hi-Tech and other battery giants, and some weak battery companies will gradually be marginalized.

Matsushita

History: In 1994, it began to develop rechargeable lithium-ion batteries. In 1998, it produced cylindrical lithium batteries for notebook computers. In 2008, it merged with Sanyo Electric to become the world's largest supplier of lithium batteries. In 2008, Panasonic and Tesla cooperated for the first time and became the exclusive supplier of Tesla, which quickly rose.

Major industry layouts: US, Japan and China

Technical route: NCA high nickel ternary material, cylindrical battery

Product performance and technical parameters: The positive electrode material of 18650 battery adopts NCA, the negative electrode material uses silicon carbon composite material, the monomer energy density reaches 250Wh/kg, and the energy density of 21700 battery cell reaches 300Wh/kg. The process is mature, the product yield is high, and it is transforming from 18650 to 21700.

Product core competitiveness: battery energy density level is the world leader

Strategic cooperation vehicle Company: Tesla

Downstream procurement of complete vehicle companies: Volkswagen, Ford, Toyota

Main supporting models: Tesla ModelS, ModelX, Model3, Volkswagen E-UP, Toyota Prius

Market size: 6.7GWh in 2016, of which Tesla accounted for 6GWh

Market forecast: expected to reach 10GWh in 2017

Raw material supply: mainly from Japan.

Factory distribution: Japan, the United States, China. The batteries of the current Tesla ModelS and ModelX are produced at the Japanese factory. Giga factory, a super factory jointly built with Tesla, will become the world's largest power battery production base. Panasonic has established a factory in Dalian and Suzhou, China, and the Dalian plant produces square batteries. The first phase of the project has been put into production. The Suzhou plant produces 18650 cylindrical batteries.

LG Chem

History: Lithium-ion battery was developed in 1998. In 2009, it cooperated with Hyundai Kia of Korea to enter the power battery market.

Major industry layouts: USA, China, Korea and Europe

Technical route: NCM ternary material battery, soft pack battery.

The core competitiveness of the product: the leader of the global soft pack battery, flexible battery design, high heat dissipation and safety performance. Synergistically develop lithium batteries with a product line of a large number of chemical materials in the group, effectively reduce costs through large-scale production, and have the dual advantages of quality and price.

Strategic cooperation vehicle Company: Hyundai Kia

Downstream procurement of complete vehicle companies: GM, Renault, Nissan

Main supporting models: Chevrolet Bolt, Volt, Renault Zoe

Market size: 2016 shipments 1.4GWh

Market forecast: expected to reach 4GWh in 2017

Raw material supply: partial self-production + partial external procurement

Factory distribution: Power battery factories are installed in Korea, the United States, Europe and China. They are located in Wucang, South Korea, Holland, USA, Wroclaw, Poland, and Nanjing, China. The Nanjing plant will become the most important power battery production base for LG Chem.

Samsung SDI

History: In 2000, it began to enter the field of power batteries. In 2008, it established a power battery company SBLimotive with Bosch. In 2009, it became a BMW power battery supplier. In May 2015, it acquired MSBS, a battery business subsidiary of Magna, and established a complete electric vehicle battery business system from battery cells and modules to battery packs.

Industry layout: China, Europe and South Korea

Technical route: ternary material, square battery, is actively following the production of 21700battery

Product performance and technical parameters: Square battery can meet the needs of large-capacity single-cell batteries, and the design requirements for BMS and PACK are lower.

Product core competitiveness: The technical route follows Panasonic, and there is a certain gap between the products and Panasonic and LG Chem.

Strategic cooperation vehicle Company: BMW

Downstream procurement of complete vehicle companies: Volkswagen

Main supporting models: BMW i series

Market size: 2016 shipments of 1.2GWh

Market forecast: expected to reach 2GWh in 2017

Raw material supply: partial self-production + partial external procurement

BYD

History: In 2003, it officially entered the field of automobile manufacturing. In 2006, the pure electric car F3e was successfully developed, and the iron power battery equipped with ET-POWER technology.

Major industry layouts: China and North America

Technical route: lithium iron phosphate + ternary materials, square batteries, in the past two years began to actively expand the ternary lithium battery.

Product performance and technical parameters: lithium iron phosphate battery has the advantages of long life, high safety, high temperature resistance and low price. Disadvantages are low energy density and poor low temperature performance.

Product core competitiveness: Lithium iron phosphate technology and market advantage leading the world

Strategic cooperation vehicle Company: BYD

Main supporting models: BYD Tang, Qin, e6, K9, etc.

Market size: 2016 shipments of 7.4GWh.

Market forecast: expected to reach 10GWh in 2017

Raw material supply: mainly from domestic

Factory distribution: Huizhou, Shenzhen Pothole

Ningde era

History: Established in 2011, in cooperation with BMW Brilliance in 2012, supporting the Novo 1E electric vehicle, becoming the only battery supplier in BMW Greater China.

Major industry layout: China market

Technical route: lithium iron phosphate + ternary material, square battery

The core competitiveness of the product: The energy density of the newly developed high-nickel ternary material is the positive electrode, and the silicon-carbon composite is the negative electrode. The energy density can reach 300Wh/kg or more.

Strategic cooperation vehicle companies: Yutong, SAIC, Dongfeng, Changan

Downstream procurement of complete vehicle companies: BMW Brilliance, BAIC New Energy, Geely, Guangzhou Automobile, Chery, Weilai

Main supporting models: BMW Brilliance, BAIC E150, Yutong New Energy Bus

Market size: 2016 shipments of 6.7GWh

Market forecast: expected to exceed 10GWh in 2017

Raw material supply: mainly from domestic

Factory distribution: Ningde, Changzhou

Guoxuan Hi-Tech

History: Established in 2006, began supporting electric bus batteries in 2009, and began supporting electric car battery in 2012.

Major industry layout: China market

Technical route: lithium iron phosphate + ternary material, square battery

The core competitiveness of the product: The newly developed ternary lithium battery uses a high-nickel cathode material matched with a silicon-based anode material to achieve an energy density of 281Wh/kg for a single cell, and a lithium-rich cathode material matched with a silicon-based anode material to achieve energy density of a single cell up to 302Wh/kg.

Strategic cooperation vehicle companies: Beiqi New Energy, Nanjing Jinlong, Zhongtong Bus

Downstream procurement of complete vehicle companies: Chery, Jianghuai, Ankai bus

Main supporting models: Jianghai iEV3, Beiqi EC180, Ankai electric bus

Market size: 2016 shipments of 1.86GWh

Market forecast: expected to reach 2.6GWh in 2017

Raw material supply: mainly from domestic

Factory distribution: Hefei, Nanjing, Qingdao

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