Recently, Guangzhou Automobile New Energy Aion? There were many spontaneous combustion accidents in S, which were equipped with NCM8 1 1 batteries provided by contemporary Amperex Technology Co., Ltd. Subsequently, a screenshot of WeChat was circulated on the Internet. Two unidentified people confided in the exchange that the recent frequent spontaneous combustion incidents of new energy vehicles led Contemporary Anpu Technology Co., Ltd. to gradually give up the NCM8 1 1 battery technology route of the company's core products with high energy ratio. Some media directly shouted "Car companies fled from Contemporary Ampere Technology Co., Ltd.". Affected by this information, on September 7th, Contemporary Ampere Technology Co., Ltd. once fell more than 1 1%, and its market value lost more than 40 billion RMB. ?
Relevant persons of Contemporary Amperex Technology Co., Ltd. responded in an interview with Traveler (ID: Carcaijing) that at present, including BMW Brilliance iX3, which will be listed soon, and overseas orders after that, 8 1 1 ternary lithium battery, a high-end brand-oriented product, is gradually increasing. At the same time, contemporary Ampere Technology Co., Ltd. is also in multi-line parallel, and 8 1 1 battery is the main attack strategy of contemporary Ampere Technology Co., Ltd. In the future, Contemporary Ampere Technology Co., Ltd. will also launch a lithium battery without nickel and cobalt, which is named "Metal-free Battery" internally.
Ternary lithium battery is a ternary cathode material lithium battery with nickel cobalt lithium manganate or nickel cobalt lithium aluminate as cathode material. According to the different proportions of nickel, cobalt, manganese or nickel, cobalt and aluminum, it can be roughly divided into 333, 532, 622, 8 1 1 and so on. 8 1 1 ternary lithium battery, with the increase of nickel proportion, the cobalt content is further reduced, the battery energy density is higher, the cruising range is improved, and the battery raw material cost is reduced. Because of its higher manufacturing process requirements, it is regarded as a symbol of the technical strength of power battery manufacturers and a powerful weapon to compete with the traditional fuel vehicle market. However, the greater the proportion of highly active nickel, the worse the thermal stability of cathode materials. When the battery encounters high temperature, external force and other shocks, it is more likely to cause thermal runaway.
In the industry's view, 8 1 1 battery has passed the national safety monitoring. Contemporary Ampere Technology Co., Ltd. has adopted special production technology and special production line, and it is impossible to give up inexplicably. However, to some extent, the above turmoil also reflects the influence of the power battery giants: the capital market keeps a close eye on its product technical route and market share, and is very nervous about any trouble, even though Contemporary Amp Technology Co., Ltd. has long been in the forefront of the global power battery shipment list. ?
To this end, contemporary Ampere Technology Co., Ltd. released words and took out 654.38+0.9 billion yuan for industrial chain investment, which led to the popularity of domestic A-share related companies; And set up a number of companies around the use of batteries. Facing the complicated and highly uncertain new energy market, even the giants have their own deep worries. ?
8 1 1 battery storm
"As the first person to eat crabs, Contemporary Ampere Technology Co., Ltd. will not give up 8 1 1 battery easily." Xu Yanhua, secretary general of China Electric Vehicle Charging Infrastructure Promotion Alliance, said that the 8 1 1 battery has its own market demand, and it will not be given up easily after careful argumentation before Contemporary Ampere Technology Co., Ltd. invests heavily in research and development. ?
8 1 1 battery reduces the amount of cobalt in high nickel materials, reduces the cost and reduces the risk of supply chain, and is the battery with the highest energy density at present. Most importantly, high-nickel batteries can effectively improve the cruising range of electric vehicles, reduce battery costs, enhance competitiveness, and "beat" traditional fuel vehicles. However, due to the stronger activity of 8 1 1 battery, its own production and application are more difficult. It is mainly used for luxury models with a price of more than 300,000 yuan, and car companies regard it as a propaganda element with strong sense of technology and high quality. ?
CICC Securities said in the research report that the high-nickel route represented by 8 1 1 has the characteristics of medium and long-term performance improvement and cost reduction, and it is the choice trend of global lithium battery leaders and international first-tier car companies. ?
However, due to the frequent safety accidents of electric vehicles, the central government's financial subsidies for new energy vehicles have declined, and high-energy density batteries, such as 8 1 1 ternary batteries, have been under considerable pressure, and mid-range models have begun to choose cheaper and more mature NCM532 ternary lithium batteries. ?
Behind this, the debate about the technical route of power battery has never stopped in recent years. In the contention of a hundred schools of thought, all enterprises are competing uncompromisingly. Abandoning 8 1 1 means denying the existing high nickel technology route in the industry. After all, it is related to the life and death of enterprises in the relevant chain. ?
For this reason, the wings of rumors touched the cautious heart of the capital market. In addition, several potential new energy consumers recently asked a traveler (ID: Carcaijing) about the safety of the 8 1 1 ternary battery of Contemporary Amperex Technology Co., Ltd. ?
According to Zhang Xiang, an auto industry analyst, "All new energy vehicles equipped with 8 1 1 ternary battery of Contemporary Amperex Technology Co., Ltd. have passed the national safety inspection, because it is wrong to boycott 8 1 1 ternary battery due to several unexplained safety accidents."
In addition to the uncertainty of battery demand in the future market, threats from overseas battery manufacturers such as LG and other domestic battery companies are also risks that contemporary Ampere Technology Co., Ltd. cannot ignore. ?
On the one hand, in the global electric vehicle battery market, LG Chem surpassed Contemporary Ampere Technology Co., Ltd. with a global battery market share of 24.6% in the first half of the year; On the other hand, in recent years, news such as Volkswagen holding Guo Xuan, BMW holding hands with Xinwangda, and Mercedes-Benz marrying Funeng Technology have emerged one after another, and the previous stable power battery market pattern has changed. ?
Informed sources close to both sides told Traveler (ID: carcaijing) that in the first half of this year, LG won the sales crown with the blessing of overseas markets under the COVID-19 epidemic. Generally speaking, there is little market difference between Contemporary Amp Technology Co., Ltd. and China. With the rapid recovery of the consumption of new energy vehicles in China, it is still inconclusive who will eventually win the title of power battery sales in the whole year. With the globalization of domestic power battery supply, the overall battery technology has gradually crossed the acceptable threshold of car companies, and the stable lithium battery pattern will be full of variables again. ?
Contemporary Ampere Technology Co., Ltd. has a clear understanding of this. As early as 20 18, when the domestic sales of new energy vehicles were in full swing, there was a joke among car companies, which used the cash box to grab the priority supply from contemporary Amperex Technology Co., Ltd. At that time, many R&D personnel in Contemporary Anpu Technology Co., Ltd. wanted to know the real consumption demand of new energy vehicles (ID: carcaijing) and discussed their views on expanding production.
The automobile industry is undergoing changes that have never happened in a century. The market demand and technical route of new energy vehicles are very complicated and uncertain, but it also gives room for industry restructuring. At present, Contemporary Ampere Technology Co., Ltd. is actively facing the upstream and downstream layout.
On August 1 1, Contemporary Ampere Technology Co., Ltd. announced that it would invest in high-quality listed enterprises in the upstream and downstream of domestic and foreign industrial chains by means of securities investment. The total investment does not exceed RMB 654.38+09.067 billion, of which the total overseas investment does not exceed RMB 654.38+07.2 billion. ?
A stone stirred up a thousand waves, and the huge investment of contemporary Ampere Technology Co., Ltd. in the industrial chain set off a carnival in the securities market. In the following days, Pioneer Intelligence (300450. Shenzhen), Meg (002340. SZ) and Bai Rong Science and Technology (688005. SH) have increased to varying degrees. At the same time, "What is Contemporary Ampere Technology Co., Ltd. going to do" has also triggered infinite speculation in the industry. ?
Zhang Xiang told Traveler (ID: Carcaijing) that in the past, Contemporary Ampere Technology Co., Ltd. positioned itself as a small supplier of layout, but now Contemporary Ampere Technology Co., Ltd. has become a domestic leader and faces the global market, so it is necessary to reorganize and adjust the supply chain to cope with a broader market.
Bet on buying mines and building factories, and have no intention of investing in complete vehicles?
Contemporary Ampere Technology Co., Ltd. is not satisfied with being a battery manufacturer.
In the industry's view, contemporary Amperex Technology Co., Ltd., which has become a giant, hopes to promote upstream and downstream development through investment and consolidate its moat; Some people think that this is the technical reserve made by Contemporary Ampere Technology Co., Ltd. for future cars.
On September 8th, Zheng Shu, chief financial officer of Contemporary Amperex Technology Co., Ltd., said in a conference call with investors in US dollar debt that the company has been approved to obtain a foreign debt line of 2 billion US dollars (about RMB 1, 367,654,380 billion yuan). The specific issuance amount will depend on the market situation, and the issuance period will be divided into five years and 10 years. ? This is the first appearance of contemporary Ampere Technology Co., Ltd. in overseas bond market.
The US$ 2 billion debt is mainly used to build overseas production bases and supplement working capital. A tourist (ID: Carcaijing) learned exclusively from a person who participated in the US debt roadshow in Contemporary Ampere Technology Co., Ltd. that the goal of Contemporary Ampere Technology Co., Ltd. is the upstream of the industrial chain and is not interested in the whole vehicle in the short term. Investment needs to be audited by regulatory agencies, and there is no potential target for investment.
Contemporary Ampere Technology Co., Ltd. is using strategic means to hedge the cost fluctuation and supply risk of battery materials. Yang Jing, director of corporate research department of Fitch Ratings in China, and Jin Tailun, director of corporate rating in Asia-Pacific, told Traveler (ID: Carcaijing) that Contemporary Amp Technology Co., Ltd. further reduced material costs and improved operational efficiency by vertically integrating metal mines, battery materials and battery recycling businesses.
In the view of analysis institutions, the upstream metal resources are the most important in the layout of contemporary Anpu Technology Co., Ltd., while the domestic reserves of cobalt, lithium and nickel are insufficient and need to be imported in large quantities every year.
From the actual layout, upstream materials have always been the key layout object of contemporary Ampere Technology Co., Ltd.. Contemporary Ampere Technology Co., Ltd. seeks stable supply of lithium, nickel and cobalt in North America, Australia and Indonesia by holding shares in mining companies and signing joint venture agreements.
Some people think that the industrial investment in Contemporary Ampere Technology Co., Ltd. will break the balance of the battery material industry. The head enterprises that have completed the reshuffle present a dominant field, and the industry concentration is expected to decline in the future, such as the diaphragm; In areas where the reshuffle has not been completed and enterprises are fully competitive, the concentration of industries will increase in the future, such as electrolyte, positive electrode and negative electrode.
Investing in upstream enterprises can reduce production costs and improve market competitiveness. According to Youzu (ID: carcaijing), the investment focus of Contemporary Ampere Technology Co., Ltd. is overseas. The announcement that "the total overseas investment does not exceed RMB 654.38+072 billion" proves this point well. ?
Now Europe has become a new consumption engine of new energy vehicles. According to the data of China Automobile Association, in the first half of this year, the domestic sales of new energy vehicles decreased by 44% year-on-year to 335,000, while the sales of new energy vehicles in Europe increased by 52% year-on-year to 403,300. LG has rapidly increased its global market share by supplying the European new energy vehicle market.
In the first half of 2020, the global installed capacity of LG chemical power battery increased by about 84.2% year-on-year, reaching 10.5GWh, surpassing Contemporary Ampere Technology Co., Ltd. (23.5%) with a global market share of 24.6%, becoming the first power battery supplier with a global market share of half a year.
Due to the early layout of LG in overseas markets, both factory construction and fixed-point projects of car companies have the first-Mover advantage, and latecomers may need to go through a more complicated process to enter the supply chain.
20 19 10 Contemporary Ampere Technology Co., Ltd. started to build its first overseas factory in Thuringia, Germany. It is estimated that the battery capacity will reach 14GWh in 2022. Due to the lack of lithium battery industry chain in Europe, ensuring overseas supply chain will be the primary task of the German factory of Amperex Technology Co., Ltd. before formal production. ?
A person close to Contemporary Amperex Technology Co., Ltd. also revealed to The Paper (ID: carcaijing), "For Contemporary Amperex Technology Co., Ltd. at this stage, the safety of overseas supply chain is very important, and it is expected that there will be considerable overseas industrial chain investment in the future."
Can you transition from selling products to selling services?
The upstream investment of Contemporary Ampere Technology Co., Ltd. aims at reducing costs and stabilizing the offshore supply chain, while its downstream investment emphasizes diversified application scenarios. Recently, Contemporary Ampere Technology Co., Ltd. set up battery management companies with Weilai and Nezha Automobile respectively, which are mainly engaged in the separation of automobile and electricity. ?
High-cost battery is an obstacle to the promotion of new energy vehicles. Contemporary Amperex Technology Co., Ltd. tries to use the above-mentioned companies to purchase batteries by financial means, such as leasing, in order to reduce the purchase cost of consumers.
This has surprised the industry. Previously, it was known in the industry that the power exchange mode was only applicable to buses, taxis and other operating vehicles, and the C-end consumer market was unlikely to be popularized in the short term. Contemporary Ampere Technology Co., Ltd. may not make a profit by participating in the power exchange mode.
"Private consumers need to replace electricity." According to Xu Yanhua, 30% to 40% of private car owners in China do not have the conditions to charge at home, and the public charging experience is not good. At present, it can be completed in 90 seconds, which is faster than refueling.
For Contemporary Ampere Technology Co., Ltd., the arrangement of battery replacement management and other services not only expanded the battery application market, but also gained the operating experience of energy storage batteries. Ren Wanfu, an auto industry analyst, told Traveler (ID: carcaijing) that Contemporary Amp Technology Co., Ltd. actively participated in power exchange, mainly through pilot and layout in advance. In the long run, the scale of private cars will far exceed the B-end market, and cooperation with companies such as Weilai and Nezha will be easier to achieve results.
Obviously, based on battery technology, the idea of contemporary Ampere Technology Co., Ltd. to lay out new battery application scenarios in advance is very obvious. The above-mentioned contemporary Amperex Technology Co., Ltd. revealed to The Paper (ID: carcaijing) that "Contemporary Amperex Technology Co., Ltd. is extending its layout upstream and downstream, during which there will be many strategic and financial investments."
For example, Contemporary Amperex Technology Co., Ltd. plans to form a new consumer finance company with Ant Financial, with a registered capital of 8 billion yuan, which is considered to meet the financial needs of energy consumption. In addition to the power exchange mode, other diversified projects of Contemporary Amperex Technology Co., Ltd., such as limited electric boats, two-wheeled electric vehicles and energy storage, are also progressing in an orderly manner. In July this year, Contemporary Ampere Technology Co., Ltd. also set up a joint venture with Henan Yuejia Intelligent Machinery Co., Ltd. to provide the whole process solution of electric intelligent unmanned mine. According to the economic model, only one electricity mine card can save nearly 300 thousand yuan in energy costs every year. At the same time, mine unmanned operation is helpful to reduce personnel safety accidents in mining areas. Some analysts believe that Contemporary Ampere Technology Co., Ltd. may provide power batteries for driverless mine cards and provide energy storage services for information digital centers and other infrastructure. ?
Only time can tell how to successfully implement the strategy in the increasingly complex global economy and trade and fierce competition in the power battery industry chain. (Editor/Yang Peiqian)
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.