The new car has a starting price of $46,560 and will be available in Huawei stores from April 1.
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Category: CATL
CATL has begun mass production of Qilin Battery, report says
Deliveries of Zeekr's Zeekr 009 MPV, the world's first vehicle to be powered by the Qilin Battery, are expected to begin in the second quarter.
(Image credit: CATL)
Chinese power battery giant CATL's Qilin Battery has achieved mass production and has a 13 percent higher capacity than 4680 batteries in the same volume, local media outlet The Paper reported today.
As the world's first vehicle to be powered by the Qilin Battery, deliveries of Zeekr's Zeekr 009 MPV are expected to begin in the second quarter, 1-2 months behind the battery's mass production, the report said.
A high percentage of consumers who ordered the Zeekr 009 opted for the version with the Qilin Battery, a Zeekr source said, adding, "This surprised us."
On June 23, 2022, CATL officially unveiled its highly anticipated CTP (cell to pack) 3.0 Qilin Battery, which it said brought battery system integration to a new level.
The Qilin Battery allows volume utilization to exceed 72 percent and energy density to reach 255 Wh/kg, easily allowing vehicles to achieve a range of 1000 km, CATL said at the time.
With the same chemistry system and the same pack size, Qilin Battery delivers 13 percent more power compared to 4680 batteries, achieving an overall improvement in range, fast charging, safety, life, efficiency, and low-temperature performance, according to CATL.
Last August 27, Zeekr and CATL announced that the Zeekr 009 MPV will be the world's first vehicle to carry the Qilin Battery, and the Zeekr 001 will use an ultra-long range version of the Qilin Battery, which will be the world's first production vehicle to carry the 1000-km range Qilin Battery.
In a post on its WeChat account at the time, Zeekr said that deliveries of the Zeekr 009 with the Qilin Battery are expected to begin in the first quarter of 2023, while the Zeekr 001 with the battery will be available in the second quarter of 2023.
"With its 140-kWh battery pack, the Zeekr 009 ME version sets a global record for a mid to large size MPV achieving an all-electric range of 822 kilometers," The Paper quoted Liu Changyan, CATL's executive president of China passenger vehicle business, as saying.
In addition to Zeekr, several other vehicle brands, including Li Auto, Neta, Lotus and AITO, have previously said they will use CATL's Qilin Battery.
It is worth noting that the Qilin Battery is a CATL innovation in pack structure, not in battery chemistry. This means that both ternary batteries, as well as lithium iron phosphate (LFP) batteries, can use this pack structure.
The Qilin Battery can achieve energy densities of 255Wh/kg with ternary cells and 160Wh/kg with LFP cells, CATL previously said.
CATL's innovation was named the best invention of 2022 by Time magazine in the US, according to information shared by the battery maker on Weibo on December 30 of last year.
CATL unveils Qilin Battery, says it can easily achieve 1,000 km vehicle range
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HiPhi Y SUV with 810 km of range confirmed. New spy shots
The HiPhi Y exposed with a massive 115-kWh battery and up to 810 km of pure-electric range. It is ready to rival Nio, XPeng and others.
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CATL to reach new price agreement with automakers as soon as end of Mar, report says
The price of lithium, a raw material for batteries, has accelerated its decline, with industrial-grade lithium carbonate falling RMB 7,500 per ton to RMB 302,500 per ton today.
New price agreements between Chinese power battery giant CATL and some local automakers are expected to be reached this month, at a time when battery raw material prices continue to fall.
CATL's lithium rebate policy is progressing steadily, and it is now at the practical stage of signing agreements with some car companies, local media Cailian said today, citing sources close to the battery maker.
These agreements are expected to be reached by the end of this month at the earliest, the source said.
CATL's plan was first reported on February 17 by local media outlet 36kr, which said it is not aimed at all customers, but rather at several strategic customers, including NIO (NYSE: NIO), Li Auto (NASDAQ: LI), Huawei and Zeekr.
The core terms of the partnership include that CATL will settle a portion of the price of power battery supply with car companies at a rate of RMB 200,000 ($28,970) per ton of lithium carbonate for the next three years.
At the same time, car companies signing the partnership will be required to commit about 80 percent of their battery purchases to CATL, according to the report.
CATL management first acknowledged the move during the company's earnings call on March 9.
CATL's lithium sharing plan is not for the purpose of lowering prices, but rather the company already has some mineral resources and does not want to reap windfall profits, its management said.
CATL wants to be able to share with long-term strategic customers and is moving forward with communications to that end, the company said.
Prior to that, Li Auto and NIO both said that they had ongoing discussions with CATL when asked about the topic in their respective earnings calls.
CATL's move comes as lithium carbonate has been falling for months.
Today's quotes for industrial-grade lithium carbonate and battery-grade lithium carbonate in China were both down RMB 7,500 per ton, with the latest average prices at RMB302,500 per ton and RMB 340,000 per ton, respectively, according to My Steel.
($1 = RMB 6.9040)
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CATL, BAIC sign deal to jointly develop battery products
CATL will participate in the vehicle development and production of BAIC-affiliated NEV companies, and provide power battery products and services.
(Image credit: CATL)
BAIC Group, which has lagged behind many of its local counterparts in the transition to electrification, appears to be stepping up its efforts.
CATL and BAIC signed a strategic cooperation agreement on March 13, in which they plan to jointly develop power battery products and tap into the new energy vehicle (NEV) market, according to a press release from the power battery giant yesterday.
CATL will participate in the vehicle development and production of BAIC-affiliated NEV companies and provide power battery products and services, according to the press release.
The two sides will build a close strategic partnership and cooperate fully in power batteries, the release said.
BAIC's efforts in the NEV market are mainly carried out by its subsidiary Beijing Electric Vehicle Co Ltd (BJEV), but its performance has been lukewarm.
BJEV sold 50,179 units for the full year 2022, up 92.06 percent from 26,127 units in 2021, but lags behind most Chinese electric vehicle startups, according to data released by its parent company BAIC BluePark New Energy Technology Co.
In the first two months of this year, BJEV sales were 4,812 units, up 42.16 percent from 3,385 units in the same period last year.
In August 2022, Bloomberg reported that smartphone giant Xiaomi was in talks with BAIC Group to collaborate on the production of electric vehicles, which could see vehicles built by BAIC BluePark and co-branded with Xiaomi.
BAIC Group later told local media that the company had "not heard of this."
That comes after BAIC BluePark announced on July 15 that it plans to raise up to 8 billion yuan ($1.16 billion) in additional shares to no more than 35 specific targets.
The stock offering is intended to increase the company's capital strength, as it continues to increase the size of its business and invest in product development amid the rapid growth of China's NEV industry, BAIC BluePark said at the time.
BAIC BluePark's share price has been weak over the past year and is currently down about 40 percent from its high last June.
($1 = RMB 6.8715)
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Avatr E12 EV sedan from Changan, CATL and Huawei revealed in patent images
The Avatr E12 from Changan, CATL and Huawei exposed in patent images in China. It stays in line with the 11 SUV.
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Marco Rubio takes aim at planned Michigan Ford battery plant using Chinese technology
Filed under: Green,Government/Legal,Green,Ford,Electric
Marco Rubio takes aim at planned Michigan Ford battery plant using Chinese technology originally appeared on Autoblog on Fri, 10 Mar 2023 09:20:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsChina Feb EV battery installations: Total volume up 36% from Jan, CATL share down slightly
BYD's share in February was essentially unchanged from January, while CALB's share grew significantly.
China's power battery installed base rebounded in February compared to January, though CATL's share declined slightly and CALB's share increased significantly.
In February, China's power battery installed base was 21.9 GWh, up 60.4 percent year-on-year and up 36.0 percent from January, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL's power battery installed base in February was 9.60 GWh, continuing to rank first with a 43.76 percent share, but down from 44.41 percent in January.
BYD installed 7.50 GWh of power batteries in February, ranking second with a 34.19 percent share, essentially unchanged from January's 34.12 percent share.
CALB saw significant market share gains in February, as the company installed 1.62 GWh of power batteries in the month, ranking third with a 7.39 percent share, up 2.46 percentage points from 4.93 percent in January.
Gotion High-tech ranked fourth with an installed base of 0.78 GWh and a 3.58 percent share in February, while Eve Energy ranked fifth with an installed base of 0.71 GWh and a 3.25 percent share.
China's ternary Li-ion battery installed base in February was 6.7 GWh, accounting for 30.6 percent of total installed base, up 15.0 percent year-on-year and up 23.7 percent from January.
The installed base of LFP batteries was 15.2 GWh, accounting for 69.3 percent of the total installed base, up 95.3 percent year-on-year and up 42.2 percent from January.
In the ternary Li-ion battery market, CATL ranked first with 65.53 percent of the total installed base of 4.40 GWh in February.
CALB and LG Energy Solution ranked second and third in the ternary battery market with 10.93 percent and 7.49 percent shares, respectively.
In the LFP battery market, BYD installed 7.50 GWh in February, topping the list with a 49.37 percent share, the second consecutive month it ranked first in this segment.
BYD's power batteries are mainly LFP batteries, which are mainly used in the company's own new energy vehicle (NEV) models.
CATL ranked second in the LFP market with 34.19 percent of the total installed base of 5.20 GWh in February.
CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 5.84 percent and 4.82 percent shares, respectively.
CATL's share in global EV battery market slips in Jan, BYD rises
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CATL confirms it’s negotiating new prices with EV makers
CATL's lithium sharing program is not for price reduction purposes, but rather the company already owns some mineral resources and doesn't want to reap windfall profits, its management said.
Last month it was reported that CATL was pushing a lithium rebate program to electric vehicle (EV) makers to drive down the cost of battery purchases for a handful of customers. Now, for the first time, the power battery giant has acknowledged the move.
CATL's lithium-sharing program is not for the purpose of lowering prices, but rather the company already owns some mineral resources and doesn't want to reap windfall profits, its management said Thursday.
The company released its 2022 annual report Thursday and held an investor call afterward in which its management made those comments, according to a meeting minutes it released today.
CATL hopes to be able to share with long-term strategic customers and is moving forward with relevant communications, the company said.
On February 17, local media outlet 36kr first reported on CATL's plan, saying it was not for all customers, but for several strategic customers including NIO (NYSE: NIO), Li Auto (NASDAQ: LI), Huawei and Zeekr.
The core terms of the partnership include that CATL will settle a portion of the price of power battery supply with car companies at a rate of RMB 200,000 ($28,720) per ton of lithium carbonate for the next three years.
At the same time, automakers signing the partnership will be required to commit about 80 percent of their battery purchases to CATL, according to the report.
CATL did not confirm the report at the time, though Li Auto and NIO both mentioned the program in their respective subsequent earnings calls.
In response to the rumored new pricing arrangement, Li Auto and CATL were in negotiations, the EV maker said during an analyst call following the February 27 announcement of its fourth-quarter earnings.
Whether it's lithium price concessions or battery prices linked to raw materials, it would be good news if battery prices could be brought back to a rational range, Li Auto's management said.
Asked about the topic during a conference call on March 1, NIO's management said the company is also in the process of discussions with CATL.
"Of course, we will maintain a long-term strategic relationship with CATL, and we are discussing some new pricing mechanisms with them," said William Li, NIO founder, chairman and CEO.
Battery makers also recognize that they must share the price volatility of battery materials with car companies, Li said at the time.
Back at CATL, the company's annual report, released yesterday, showed it posted a 39 percent quarter-on-quarter increase in net profit in the fourth quarter and further improved gross margins to 22.57 percent.
CATL's management, when asked about the lithium industry overhaul in Yichun, Jiangxi, said it had essentially no impact on the company, and its projects there are moving forward as planned.
The overhaul is mainly aimed at correcting the chaos in local lithium mining, which is beneficial to compliant companies in the long run, CATL's management said.
In Yichun, nicknamed the "lithium capital of Asia," local lithium miners have shut down production for an industry-wide overhaul, Yicai reported on February 26.
Analysts fear that this may bring disruption to the lithium supply, thus halting the downward trend in lithium prices. But such fears have not materialized.
Lithium carbonate prices have continued to fall over the past two weeks, with battery-grade lithium carbonate falling to RMB 367,000 per ton on March 9 and industrial-grade lithium carbonate falling to RMB 332,500 per ton, both one-year lows.
($1 = RMB6.9643)
CATL reportedly cutting battery costs significantly for some clients including NIO, Li Auto
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CATL sees Q4 net profit up 39% QoQ, gross margin improves further to 22.57%
CATL's capacity utilization was 83.4 percent in 2022, down from 95 percent in 2021.
CATL saw a solid performance in the fourth quarter, with its key businesses seeing strong growth.
The Chinese power battery giant achieved revenue of RMB 118.25 billion ($16.98 billion) in the fourth quarter, up 107.49 percent year-on-year and up 21.44 percent from the third quarter, according to its annual report released Thursday.
The company's net profit attributable to shareholders reached RMB 13.14 billion in the fourth quarter, up 60.64 percent year-on-year and up 39.49 percent from the third quarter.
CATL's gross margin further improved to 22.57 percent in the fourth quarter, up from 19.27 percent in the third quarter.
Previously, CATL's gross margin continued to decline in 2021, dropping to 14.48 percent in the first quarter of 2022 due to a large increase in battery raw material prices.
CATL's revenue for the full year 2022 was RMB 328.59 billion, up 152 percent year-on-year, and net profit was RMB 30.73 billion, up 92.89 percent year-on-year.
The company's gross margin in 2022 were 20.25 percent, a decrease of 6.03 percentage points from 2021.
CATL's revenue mainly comes from its power battery systems business, energy storage systems business and battery materials and recycling business.
Its power battery systems business generated revenue of RMB 236.6 billion in 2022, up 158.6 percent year-on-year, contributing 72 percent of the company's revenue.
CATL's actual battery systems capacity in 2022 was 390 GWh, up 128.9 percent year-on-year. It has 152 GWh of capacity under construction.
It had 325 GWh of battery system production in 2022, up 100 percent year-on-year, with full-year sales reaching 289 GWh, up 116.6 percent year-on-year.
It has a battery inventory of 70 GWh in 2022, up 75.2 percent year-on-year.
Notably, with rapid capacity expansion, CATL's capacity utilization rate was 83.4 percent in 2022, down from 95 percent in 2021.
CATL's energy storage systems business generated revenue of RMB 44.98 billion in 2022, up 230.16 percent year-on-year, contributing 13.69 percent of total revenue.
Its energy storage systems business saw a large decline in gross margin, which was 17 percent in 2022, 11.51 percentage points lower than in 2021, a much larger decline than other businesses.
This is because energy storage orders are mostly long-term orders, and compared to power batteries, energy storage batteries are more sensitive to price fluctuations, making it difficult to negotiate directly with customers for price increases in the short term.
CATL's battery materials and recycling business generated revenue of RMB 26.03 billion in 2022, up 94.7 percent year-on-year, contributing 7.92 percent of total revenue.
The battery materials and recycling business gross margin remained largely stable, declining only 2.36 percentage points to 21.23 percent in 2022.
Citi analyst Jack Shang said in a research note that CATL's reported results were in line with previous forecasts, and they are bullish on the company's strong pricing power and overseas customer channel as a leader in the battery industry.
Citi raised its earnings forecast for CATL by 4 percent for this year and 2 percent for next year to RMB 39 billion and RMB 49 billion, respectively, maintaining it as a top pick in the industry.
Citi expects CATL's battery sales could reach 402 GWh this year, up 39 percent year-on-year.
($1 = RMB 6.9648)
CATL's share in global EV battery market slips in Jan, BYD rises
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