High nickel 811 gradually becomes the mainstream of the positive ternary material market

Recently, Smart Energy (600869) said in the high-nickel expert meeting that the company has been developing high-nickel 811 products since 2014, and has already cooperated with OEMs in recent years. Among them, 2600-2900 mAh products (with energy density between 200-220Wh/kg) have already started to use high-nickel 811. Last year, a small amount of shipments have been made. In March of this year, bulk shipments have begun, and silicon-carbon materials will also be used together. Continue to develop high-capacity products, it is expected that 50% of batteries will use high nickel 811 in 2018.

From the perspective of battery energy density, lithium iron phosphate is currently limited by material properties and technology. The energy density of the battery core cannot meet the requirements of 300 Wh/kg or more in the Medium and Long Term Development Plan of the Automotive Industry in 2020. With the lifting of the ternary lithium battery bus market and the new energy vehicle policy for energy density requirements, ternary lithium batteries will be an inevitable choice for the market. However, the energy density of the mainstream ternary 523 material battery on the market can reach 160-200 wh/kg, while the ternary 622 material can reach 220-230 wh/kg, and it is difficult to meet the requirements of 2020. The demand for high energy density has driven the rapid rise of the high nickel 811 in the market.

From the perspective of battery cost, the unit cost of high nickel 811 cathode material will drop by about 7%, and after considering PACK, the overall unit cost can drop by more than 8%, the decline is very impressive; from the perspective of battery capacity, mature three Yuan 18650 power battery uses 532 material, the battery capacity is 2.5AH, and the high nickel 811 material, the capacity can reach 2.75AH.

In addition, because the energy density of the 811 material battery is relatively high, the subsidy amount of the new energy vehicle loaded with the 811 material battery is also higher than that of the load 622 and 532, so that the comprehensive price of the high nickel battery has a considerable advantage, the battery The adoption of high nickel 811 is an inevitable trend.

Guotai Junan also said that with the “reduction of quality and cost reduction” has become the main theme of the development of the power battery industry in recent years, the use of high nickel 811 is a win-win for the battery factory and the positive electrode material supplier. In 2018, it is the first year of the first production of cylindrical batteries in 811. Demand is expected to surge by 500%. In 2019, 811 will be fully promoted on soft and square batteries, and the demand will fully erupt. It is expected that the compound growth rate will be 130% in 3 years.

It is understood that Smart Energy (600869) ternary 18650 lithium battery has a capacity of over 3GWh and the company continues to improve the new energy smart car power system technology, capacity and shipments, battery capacity of 100,000 units. In 2017, the company entered the top six domestic passenger car installed capacity, and formed a cooperative relationship with domestic mainstream new energy smart car enterprises such as Jiangling, Zotye, and Shaanxi Auto, and continued to expand strategic customers such as Brilliance, Chery and Dongfeng.

At the same time, the company launched the "3GWh high energy density power storage lithium battery research and development and industrialization" project, focusing on the layout of 21700 battery, the new six 200PPM 21700-5Ah automated production line, the monomer energy density can exceed 265Wh / Kg, in the industry leading level.

In Yixing, Jiangsu, Smart Energy (600869) is also actively promoting the construction of smart energy industrial parks, deploying high-performance lithium-ion soft pack batteries, with a planned production capacity of 6GWh (expanding to 12GWh in the future). The first phase is scheduled to be completed and put into production by the end of 2018. Jiangsu Yixing has built a leading domestic and international first-class automation, intelligent soft pack and square aluminum shell lithium battery production base.

Smart Energy (600869) as a leading power battery manufacturer in China, having a diversified product structure and is one of the few companies that can mass produce cylindrical 811 batteries. At the same time, the soft pack and square battery capacity release cycle coincides with the high nickel 811 promotion cycling. Under the long-term support of new energy vehicles, the country believes that Smart Energy (600869) will continue to benefit from the high nickel 811 era, helping the Chinese auto industry to achieve "changing the road and overtaking."

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