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Once Again! CATL Will Provide Japan Honda with 56GWh Power Battery Before 2027!

2019-02-13

ASIACHEM research indicates that, recently, global vehicle enterprises strengthen cooperation with power battery enterprises, or choose to self-construct power battery factories. ASIACHEM believes that, the main reason is that, it can guarantee new energy vehicle used power battery technology match, stabled supply and with reasonable price. Through cooperation with vehicle enterprises, power battery enterprises on one hand can ensure long-term selling income through ‘lock the customer’, on the other hand, power battery enterprises can not only deeper understand market requirement, improve its manufacturing process, increase production efficiency, to ensure core competitiveness in fierce market competition of power battery, but also can accumulate experiences of power battery products integration on new energy whole vehicles, through collecting application parameters, to lay a solid foundation for their future possibly technology extension.

 

Feb 2019, CATL and Japan Honda signed cooperation agreement in Tokyo, Japan. According to the agreement, CATL becomes Honda’s partner on power LIB field. Before 2027, CATL will provide Honda with 56GWh power LIB.

 

Information shows that, CATL was founded in Dec 2011. In Jun 2018, the company listed on Shenzhen Stock Exchange. According to its IPO, from 2015 to 2017, the company LIB output was 2.52GWh, 7.02GWh and 12.91GWh, respectively.

 

In 2018, China power battery vehicles market booming increase once again. CAAM data shows that, in 2018, China new energy vehicle production and sales all exceeded 1.25M and YOY increase nearly 60%. Because of excellent product quality, CATL power battery installation reached 23.5GWh, ranked No.1 in China for a second successive year, and installation is almost doubled of BYD, No.2 in the industry.

 

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ASIACHEM information shows that, since Jul 2018, CATL and vehicle enterprises cooperation conditions are as shown below.

 

Germany BMW

 

Feb 2019, information shows that, CATL announced that, it would invest and construct world largest battery factory in Erfurt, Germany and capacity will reach 100GWh.

 

Before, in Jul 2018, CATL and Germany Thuringia Government signed investment agreement. According to the agreement, CATL would invest EU 240M to set up battery production base and smart manufacturing technology R&D center. After reaching designed capacity in 2022, it will form 14GWh/a capacity.

 

CATL stated that, main reason of expansion is European market requirement increases and competition is fierce.

 

Beside, foreign media reported that, BMW has signed battery purchase contract with CATL. BMW would purchase CATL battery valued USD 4.7bn. The purchase contract is divided into 2 parts, among, USD 1.76bn comes from CATL Erfurt new factory.

 

Geely

 

Dec 2018, Zhejiang JiRun Automobile Co. Ltd., holding company of Geely Holding Group and CATL joint released announcement that both parties would set up joint venture company. JV company will mainly engage in production and sales of LIB, fuel cell and ultra-large volume energy storage batteries.

 

SAIC-GM

 

Sep 2018, SAIC-GM and CATL signed strategic cooperation agreement. In the future, both parties will actively co-launch exploration on vehicle battery technology field, and deep cooperate on R&D of SAIC-GM next generation new energy batteries.

 

Dongfeng Motor

 

Jul 2018, Dongfeng Amperex (Wuhan) Battery System Co. Ltd. formally listed in Dongfeng New Energy Vehicle Industrial Park. The company is joint venture and constructed by Dongfeng Electric Vehicle and CATL, registered capital is CNY 100M and both parties contribute 50% each. It is estimated that, by 2020, Dongfeng CATL will realize annual capacity 192k sets and output 9.6GWh.

 

GAG

 

Jul 2018, CATL released announcement, the company signed joint venture contract with Guangzhou Automobile Group Co. Ltd. in Guangzhou, both parties planned to joint contribute and set up ‘CATL GAC Power Battery Co. Ltd.’ and ‘GAC CATL Power Battery System Co. Ltd.’ respectively in Guangzhou (both are named tentatively).

 

Among:

 

Operating scopes of CATL GAC Power Battery Co. Ltd. are development, production and sales of LIB, power battery, ultra large volume energy storage battery and battery system, and providing related after sales and technical consulting services.

 

Operating scopes of GAC CATL Power Battery System Co. Ltd. are development, production and sales of power battery system, technology development, technology transfer, technical consulting and technical services within professional fields of power battery.

 

Brilliance BMW

 

Jul 2018, CATL and Brilliance-BMW signed <Strategic Cooperation Agreement> in Beijing. Brilliance-BMW would purchase battery capacity construction project from CATL and project amount is CNY 815M; Brilliance-BMW would long term purchase specific typed power battery product from CATL and initial advance payment is CNY 2.8525bn; CATL agreed that, Brilliance-BMW has right to invest shares of the company when CATL implementing domestic or oversea equity financing and this investment up limit is CNY 2.8525bn.

 

Jiangling Motors

 

Jul 2018, CATL and Jiangling Motors Group signed strategic cooperation agreement, both parties would launch strategic cooperation on many major vehicle types and both parties reach intentions on further deepening long term strategic cooperation.

 

Besides, it is noteworthy that, except vehicle enterprises above, CATL also expands its business to ship used power battery fields:

 

Jan 2019 CATL and China Classification Society Wuhan Rules & Research Institute signed strategic cooperation agreement, both parties will launch cooperation on promoting research and on-water application of battery system marine technology, accelerate recognition and examine of related batteries. Besides, both parties will co-start research and formulation / revision work of e-ship safety specification, constructing safety specification system from monomer battery, module, battery management system to battery system.

 

ASIACHEM research indicates that, recently, global vehicle enterprises strengthen cooperation with power battery enterprises, or choose to self-construct power battery factories. ASIACHEM believes that, the main reason is that, it can guarantee new energy vehicle used power battery technology match, stabled supply and with reasonable price. Through cooperation with vehicle enterprises, power battery enterprises on one hand can ensure long-term selling income through ‘lock the customer’, on the other hand, power battery enterprises can not only deeper understand market requirement, improve its manufacturing process, increase production efficiency, to ensure core competitiveness in fierce market competition of power battery, but also can accumulate experiences of power battery products integration on new energy whole vehicles, through collecting application parameters, to lay a solid foundation for their future possibly technology extension.