Hunan Times Invest in the Large Cylindrical Cobalt-free Battery, can it Subvert the Market?
In February of this year, the news that "Tesla will adopt the CATL cobalt-free battery" stirred up thousands of waves and stirred up the fluctuations of the concept of cobalt and lithium iron phosphate in the securities market.
In fact, the industry speculates that the cobalt-free battery is lithium iron phosphate. Since then, the domestic lithium iron phosphate battery has changed its name to a "cobalt-free battery" and has risen again in China.
In February 2020, when the news of Tesla came out, Hunan Times was incorporated and its business includes the research and development, manufacturing and sales of lithium-ion batteries and related products, and after-sales service.
A few days ago, Hunan Times United New Energy Co., Ltd. "Lithium-ion Power and Energy Storage Battery Intelligent Industrialization Base" started construction. The total investment of the project is 1 billion yuan, of which 700 million yuan is a fixed asset investment. The planned land area is 170 acres and the construction period 10 months. It is understood that after the completion of the project construction, it will integrate R & D, production and sales of battery cells and PACK to form an annual production capacity of 4GWh lithium-ion batteries, and realize annual sales income of about 2.4 billion yuan.
The core product of the project is "60 series large cylindrical cobalt-free batteries". According to OFweek lithium grid, compared with 50 series cylindrical batteries, "60 series large cylindrical cobalt-free batteries" retain the basis of high consistency and high specific energy. In the above, the new pole-ear welding technology is adopted, which has better battery rate performance, higher capacity, lower internal resistance, lower temperature rise, more excellent high and low temperature performance, and higher safety.
The product of this project adopts wet-process water-based technology, the world's first 15 lithium-ion battery production process, compared with more than 40 production processes in the same industry, greatly reducing the hidden quality of man-made quality, effectively improving the battery qualification rate; independently developed low-pressure safety valve, collecting exhaust Decompression and explosion-proof functions are integrated, and the gas inside the battery can be discharged in time through the low-pressure safety valve, which effectively solves the problem of traditional battery expansion and improves battery safety.
Although the product looks good and the manufacturing process is advanced, it has to face the current market situation. The installed capacity of cylindrical batteries of new energy vehicles in China was 7106.28MWh in 2018, and the installed capacity was 413.39MWh in 2019, with the market share shrinking to 6.65%. In addition, statistics show that the top ten leading companies such as Guoxuan Hi-Tech, Lishen Battery and BAK Battery accounted for 96.5% of the market share in 2019.
The data shows that in recent years, the domestic market share of cylindrical batteries in the field of new energy vehicles has been in a downward trend, and the industry's head concentration effect is obvious. So, is it a wise choice to enter the lithium iron phosphate battery market in Hunan Times at this time? Will it have a place in the future?