Chen Gang, chairman and general manager of BYD Semiconductor, once said that IGBT can not be produced by throwing money.
The success in the fields of new energy vehicles and power batteries has given BYD the right to speak in the transformation of traditional cars into the new four modernizations. Therefore, when BYD is gathering funds to develop its semiconductor business, investment institutions are very happy to "throw money", "Matthew
"Effect" is also beginning to appear in the blue ocean of semiconductors.
Two rounds of financing in 42 days, with a valuation of 10 billion yuan. Recently, BYD officially announced that following the 1.9 billion round A round of financing, BYD Semiconductor Co., Ltd. completed the A+ round of financing of 799 million yuan, with a post-investment valuation of over 10 billion yuan.
BYD also stated that after the completion of this capital increase and share expansion, the registered capital of BYD Semiconductor will increase to RMB 410 million. The company holds 72.3% of the equity of BYD Semiconductor. BYD Semiconductor will still be a subsidiary controlled by BYD and will still be included in the company's consolidated statements.
In the first round of financing, the investors were all well-known investment institutions at home and abroad, led by Sequoia Capital, CICC Capital and SDIC Innovation, and Himalaya Capital and other institutions participated in the subscription.
It is precisely because the semiconductor capital increase and share expansion project has attracted the favor of many financial and industrial investors, and considering the various business resource integration and cooperation matters planned to be implemented in the future, BYD conducted a second round of introduction.
In the second round of strategic investment, investors include South Korea's SK Group, Xiaomi Group, Lenovo Group, SMIC Juyuan, BAIC Industrial Investment, SAIC Industrial Investment, Shenzhen Huaqiang, Lanhai Huateng, INVT, as well as CMB International and CITIC Industrial
Fund, Houan Fund and many other A+ round investment stocks or through funds.
According to information disclosed by BYD, BYD will accelerate the spin-off and listing of BYD Semiconductor after completing the financing.
Facing technological competition, BYD Semiconductor's core business is mainly in the two fields of automotive IGBT and industrial IGBT.
Since the establishment of the team in 2005, BYD has been engaged in IGBT research and development for 15 years. As a result, BYD has become the first company in China to achieve large-scale mass production of automotive-grade IGBTs and the only one with a complete industrial chain of IGBTs.
Car companies.
IGBT? (Insulated Gate Bipolar Transisto) Chinese name is Insulated Gate Bipolar Transistor. Perhaps in the eyes of semiconductor manufacturers, IGBT is just a discrete device, but this small device has now become the most technologically advanced electronic device.
Advanced products have completely replaced traditional Power MOSFETs. They are called the "CPU" of power electronic devices and function equivalent to the brain of the human body.
As the core components of energy conversion and transmission, IGBT chips and power battery cells are called the "double core" of electric vehicles.
It plays a pivotal role in the new energy vehicle industry and is widely used. Its application areas include electric control systems, vehicle air conditioning control systems, charging piles, etc. In terms of cost ratio, IGBT modules account for nearly 10% of the cost of electric vehicles and 10% of charging
The pile cost is about 20%.
In addition, in terms of smart grid, whether it is the transmission end, the substation end, or the power consumption end, the application of IGBT is inseparable.
At present, the competitive landscape of the global IGBT market is dominated by mainstream international manufacturers such as Infineon, Fujifilm, and Mitsubishi. International manufacturers started early and invested heavily in R&D, so they have high patent barriers. Domestic IGBTs are also very dependent on foreign countries. 90
% needs to be imported, and coupled with the adaptation characteristics of IGBT, the purchase and matching of process equipment are very difficult.
my country's power semiconductor technology is still in its infancy, and generally adopts a "design + foundry" model, that is, design companies provide chip design solutions and some domestic integrated circuit companies manufacture OEM products.
With the rapid development of new energy vehicles and the improvement of infrastructure in my country, the problem of IGBT supply and demand gap will become more and more obvious. It is imperative to break the international monopoly, achieve independent research and development and domestic substitution.
The path to advancement as a supplier began with the joint venture with Changan Automobile to establish a power battery company. It can be said that BYD's path to becoming a supplier in the field of automobile manufacturing has truly begun. Later, the agreements signed with Audi and Jaguar Land Rover also allowed BYD to become a supplier.
be further consolidated.
According to the plan, BYD will spin off the entire battery business and list it independently around 2022.
Obviously, BYD Semiconductor is preparing to take the same path.
At the end of 2018, BYD released IGBT4.0 technology. It is understood that this technology is superior to mainstream products in the market in many key performance indicators, such as current output capacity is 15% higher, comprehensive loss is reduced by 20%, and temperature cycle life can reach mainstream similar products.
More than 10 times, it can be said that this technology is a masterpiece of the rise of China's IGBT chips, and it also breaks the situation where high-performance IGBTs are controlled by others.
Data shows that BYD's current production capacity of IGBT chip wafers is 100,000 pieces per month, and the annual supply of new energy vehicles is as high as 1.2 million vehicles.
At the end of April 2020, BYD IGBT project started construction in Changsha.