2010, the industrialization of new energy vehicles officially launched a large-screen, state support policy from buses, taxis and other public services to expand to larger markets private consumption. This year in June, the new energy vehicles to buy subsidized private pilot introduction of the policy opens the door to private consumption subsidies. The industry believes that the expansion of private consumption markets means that new energy automotive industry embarked on a rapid development of the “right track.”
In this regard, the capital market is also an implicit benefit of new energy vehicles in the field or likely to benefit companies continue to be a hot market. New energy to the battery vehicle manufacturers, to the upper reaches of battery materials, focus on the whole industry chain of your company Changba me play, the secondary market was bustling. In the car with the new energy field, the maximum cost share of the battery, can generate the highest added value is also expected, including the most popular areas of strong lithium.
Lithium battery will become mainstream
Compared with conventional cars, new energy automotive industry chain based on the extension and increase the battery, motor, electric control system components. New energy battery is the most automobile industry chain, the core component. New components in new energy vehicles, the battery system costs account for most new, this link is also expected to generate the highest added value. According to estimates, battery electric vehicles in the cost of composition as much as 60%.
Now as a new energy vehicles for the battery power source mainly lead-acid batteries, nickel hydrogen batteries and lithium ion batteries, widely believed to lithium battery will become mainstream. Lithium-ion batteries are light weight, energy and high specific power, small size, long cycle life, no memory, self-discharge rate, temperature, wide range of applications and many other advantages, but also a large improvement and cost reduction technology space Therefore, the medium and long term, will gradually achieve lithium battery market to replace nickel-hydrogen batteries.
Lithium take four investment areas
From a structural point of view, lithium-ion battery consists mainly of four parts: the cathode material, anode material, electrolyte, separator and auxiliary materials such as ultra-thin copper foil. Which cathode material, electrolyte and membrane is the core of the three materials, directly determine the performance of battery safety, capacity, accounting for the cost of lithium-ion battery more than 70%. The most commonly used cathode material for lithium batteries are mainly lithium cobalt oxide, lithium manganese, nickel, lithium, ternary materials, and lithium iron phosphate.
By comparison, lithium iron phosphate cathode material is the best it discharge power, low cost (about 180,000 ~ 200,000 yuan / ton), fast charging and long cycle life (over 1000), at high temperature high stability under high heat.
Mainly graphite anode materials, graphite fiber materials, etc, the production of technical barriers to low, stable supply of upstream and downstream relationship is the key to competition in the industry, competitive landscape is relatively stable. Many enterprises in China have been engaged in production of anode material for lithium. .
The safety performance of the lithium battery separator has a tremendous effect in lithium battery costs constitute about 25% in the proportion of share, but gross margins as high as 70%, the power lithium battery in the most profitable part. Diaphragm made public until 2005, but the ratio of foreign and domestic diaphragm thickness, strength, pore overall absorption rate can not be both, and the stability of the general, the major supplier of low-end market.
Electrolyte lithium battery costs account for about 15%, gross margin of about 40%. At present, production capacity of 1.8 million tons of supply and demand balance, the future of new energy vehicles pulling large vehicles on the electrolyte needs.
In addition, the electrolyte is the main raw material lithium hexafluorophosphate account for the cost of more than 50% electrolyte. As the production of high technical difficulty, electrolyte market is monopolized by the Japanese several enterprises, Chinese enterprises have not fully mastered the production technology, the current trial of lithium hexafluorophosphate listed company is of Jiangsu Guotai and Fluoride.
