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Category: Electric
GAC-backed Greater Bay unveils Phoenix battery that claims to be able to charge from 0 to 80% in 6 minutes
The Phoenix battery will be in mass production next year and is expected to be used in production vehicles by the end of next year, Greater Bay said.
(Image credit: Greater Bay Technology)
Many Chinese companies have announced breakthroughs in battery technology this year, with GAC Group-backed Greater Bay Technology as the latest.
Greater Bay unveiled the Phoenix battery, which claims to be able to charge from zero to nearly full in less than 10 minutes, at a battery technology launch event on June 6.
The Phoenix battery integrates Greater Bay's latest innovations in materials, electrochemistry, structure, and controls to give electric vehicles the ability to run as usual in all-weather conditions, it said.
Phoenix battery-equipped electric vehicles can be charged at up to 8C at different voltage platforms from 300 volts to 1000 volts, with 0-80 percent charging in 6 minutes, it said.
In the battery world, C refers to the charging multiplier, and 8C means the battery can theoretically be fully charged in one-eighth of an hour -- 7.5 minutes.
At the same time, Phoenix batteries offer leading-edge advantages in safety, cycle life, range and cost to compete with fuel-powered vehicles, Greater Bay said, according to a WeChat article it posted today.
Greater Bay said its technology gives the battery 18 times more heat exchange area compared to conventional solutions, and allows the pack temperature to rise from -20°C to +25°C in five minutes even in winter.
Phoenix battery uses a new structural design, not only the thermal management of the battery sees great improvements, volume utilization can be as high as 75 percent, it claimed.
With extremely fast charging, the Phoenix battery also has an ultra-long life, with a cycle life of 10 years or 800,000 kilometers, the company said.
The battery system's highly integrated design allows for an energy density of 260 Wh/kg and a range of 1,000 kilometers on a single charge, it said.
Phoenix batteries will be in mass production next year and are expected to be used in production vehicles by the end of next year, according to the company.
Greater Bay, founded in September 2020, is a battery maker incubated by GAC, according to its website.
The company is building cell and pack production capacity, with a pack plant in Nansha, Guangzhou, already in operation.
Greater Bay plans to build a production base of about 500 mu (33 hectares) in Guangzhou, with the first phase of construction expected to be completed in 2023 and a capacity of 8 GWh, which could supply batteries for 120,000 vehicles, the information on its website reads.
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LEVC XE08 spotted in China during road tests. New vehicle for the London taxi fleet?
The LEVC XE08 is a huge MPV that is getting ready for the UK and Chinese markets. It can have up to four rows of seats inside.
The post LEVC XE08 spotted in China during road tests. New vehicle for the London taxi fleet? appeared first on CarNewsChina.com.
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Svolt Energy plans to build battery plant in Thailand, report says
Svolt Energy is planning to invest $30 million to build a battery module pack plant in Thailand, according to local media.
(Image credit: Svolt Energy)
Svolt Energy, a battery maker that spun off from Great Wall Motor, is said to be planning to build a battery factory in Thailand as manufacturers in China's new energy vehicle industry chain target Southeast Asian markets.
Svolt Energy is planning to invest $30 million to build a battery module pack plant in Thailand, local media Cailian reported today, citing sources familiar with the matter.
Svolt Energy has incorporated a wholly owned subsidiary, Svolt Energy Technology (Thailand) Co Ltd, in Thailand and is currently planning the construction of the new plant, the report said, without providing further details.
Svolt Energy was originally the power battery division of Great Wall Motor, which began research and development of batteries in 2012.
It became independent from Great Wall Motor in February 2018 to work on next-generation battery materials, cells, modules, PACKs, BMS, and energy storage technologies.
The battery maker currently has 11 production sites in China and one overseas production site in Heusweiler, Saarland, Germany, according to its website.
On September 9, 2022, Svolt Energy said it will build a cell factory for the European market in Lauchhammer, Brandenburg, Germany, which will be its second factory overseas.
Svolt Energy plans to produce the cells at its Lauchhammer facility and process them into packs at its Heusweiler facility, the company said at the time.
In 2019, Svolt Energy said it was aiming to build 120 GWh of power battery capacity globally by 2025.
It made several subsequent increases to that target and raised it to 600 GWh in December 2021.
In April, Svolt Energy installed 0.42 GWh of power batteries in China, ranking 8th with a 1.66 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).
CATL and BYD had 10.26 GWh and 7.32 GWh of batteries installed in April, ranking first and second with 40.83 percent and 29.11 percent shares respectively.
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Nio ET5 Touring spotted on a trailer in China. Ready for deliveries
Nio is getting ready to start the ET5 Touring deliveries. This EV has 490 hp and a swappable battery. Later, it will be available in Europe.
The post Nio ET5 Touring spotted on a trailer in China. Ready for deliveries appeared first on CarNewsChina.com.
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BYD sees cumulative sales of Han and Tang family models exceed 1 million
Cumulative sales of Han family models reached 505,062 units and Tang family reached 501,662 units.
(Image credit: BYD)
BYD's (OTCMKTS: BYDDY) two flagship models have both sold more than 500,000 units since their launch, putting combined sales over the 1 million mark.
Cumulative sales of BYD's flagship Han family of sedan models reached 505,062 units and cumulative sales of its flagship Tang family of SUVs reached 501,662 units, bringing total sales of the two models to more than 1 million units, the new energy vehicle (NEV) maker announced today.
The BYD brand's product array includes the Dynasty and Ocean series, with the Han and Tang being models in the Dynasty lineup, which includes both plug-in hybrid and pure electric versions.
The company launched the first-generation Han model in July 2020 and they see cumulative sales of more than 100,000 units in July 2021, according to data monitored by CnEVPost.
On March 16, BYD made the 2023 Han EV available, and on May 18, the hybrid Han DM-i and Han DM-p variants were launched.
BYD sold 240,220 NEVs in May, with Han family models contributing 20,387 units, down 14.82 percent year-on-year but up 42.28 percent from April.
From January to May, the Han family of models sold 71,784 units, up 63.72 percent year-on-year.
The BYD Tang originally debuted at the 2014 Beijing auto show and began production in 2015.
The Tang family of models sold 11,871 units in May, up 40.50 percent year-on-year and up 0.95 percent from April.
From January to May, Tang sold 56,682 units, an increase of 18.85 percent year-on-year.
BYD made the 2023 Tang DM-i available on March 16.
Both BYD Han and Tang family models target the mainstream market in the price range of RMB 200,000 ($28,090) - 300,000.
($1 = RMB 7.1197)
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CATL shares plunge after Morgan Stanley downgrades rating to underweight
Second-tier battery makers may adopt a more aggressive pricing strategy to gain market share in the second half of the year, and CATL could face increasing risks to its market share and margins in the domestic market, Morgan Stanley said.
Morgan Stanley downgraded its rating on CATL, citing market share risks, sending shares of the Chinese power battery giant tumbling in morning trading.
"We downgrade CATL to UW as we think second-tier battery makers may adopt more aggressive pricing strategies to gain market share in 2H23," analyst Jack Lu's team said in a research note sent to investors earlier today.
As of press time, CATL shares traded in Shenzhen were down about 6 percent to near their lowest point of the year.
Earlier this year, Morgan Stanley upgraded CATL to equal weight, while being bearish on most battery material makers, as it believes CATL is better able to respond to slowing demand and leverage its cost advantages and bargaining power across the broader value chain.
Now, Lu's team believes that the dual-sourcing battery strategy of local EV companies may help the Tier 2 battery makers achieve their goals, while CATL may face increasing risks in terms of market share and margins in the domestic market.
In February, CATL launched a lithium rebate program to trade cheap lithium resources for market share. However, the subsequent plunge in lithium prices to below RMB 200,000 per ton has led to significant uncertainty about the program, the team said, adding that they have not received any further news about the program.
Meanwhile, battery makers have been offering fairly significant price cuts against the backdrop of falling lithium prices in the second quarter, the team noted.
"Our checks with tier-two battery makers indicate that the price cuts could be in the range of 10-20% during the quarter, with some battery makers likely offering more aggressive cuts than others," the team wrote.
Such actions could threaten CATL's market share in its domestic market, and market share potential is an important stock price driver, the team said.
CATL's power battery installed base in China was 10.26 GWh in April, ranking first with a 40.83 percent share, but down from 44.95 percent in March, China Automotive Battery Innovation Alliance (CABIA) data from last month showed. Data for May is Expected to be available in a few days.
NIO (NYSE: NIO) and Li Auto (NASDAQ: LI) are bringing in new battery suppliers instead of making CATL their sole supplier, Lu's team noted.
"With many new models being launched in the domestic EV market, we think CATL's domestic market share could come under pressure," the team said.
As background, since late last year, regulatory filings for NIO's new NT 2.0-based models have shown battery suppliers that include the smaller CALB in addition to CATL.
Last month, NIO filed to use semi-solid-state batteries from Beijing WeLion New Energy Technology in its models.
On February 8, Li Auto officially launched its first five-seat SUV, the Li L7, and announced the introduction of Sunwoda Electric Vehicle Battery and Svolt Energy as new battery suppliers.
More and more Tier 2 companies are adopting increasingly aggressive pricing strategies, and CATL may have to do the same, according to Lu's team.
Despite a short-term recovery in value chain orders, there will still be excess battery capacity in the short term and price competition is inevitable, the team said.
In addition to the market share pressure it faces domestically, Lu's team believes CATL's overseas path is increasingly uncertain.
"Some investors have argued that CATL's market share overseas is yet to see signs of decline; however, in our view CATL's overseas market is under increasing scrutiny and becoming more and uncertain, limiting visibility," the team wrote.
CATL has tried to penetrate overseas markets through exports and localization of production, but both pathways are increasingly at risk due to geopolitical tensions, particularly in the US, the team said.
Notably, Lu's team stressed that if the cost of battery materials and minerals continues to fall, this could give car companies more room to pursue new technologies and other battery performance metrics.
"If this is the case, CATL could regain any lost market share and continue to dominate the global battery market, leveraging its strong R&D capabilities and bargaining power over the supply chain. Our bull case scenario assumes 60% global market share in the long term," the team wrote.
Global EV battery market share in Jan-April: CATL 35.9%, BYD 16.1%
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