28.5 billion yuan!BYD has a big move

Author:Securities daily Time:2022.08.16

Our reporter Li Yuzheng on August 15th, according to the news of "Yichun released", the Yichun City Government, Yichun Economic Development Zone, Yifeng County Government, Yichun Mining Company and BYD officially signed a strategic cooperation framework agreement in Nanchang City. BYD intends to be in Yichun City Investment of 28.5 billion yuan to build an annual output of 30GWH power batteries and an annual output of 100,000 tons of battery -grade lithium carbonate and ceramic soil (including lithium) mining selection and selection of production base projects. Luo Xiaoli, an analyst of Longzhong Information Lithium Industry, believes in an interview with the Securities Daily that the settlement of BYD power battery projects is related to the rich lithium cloud mother resources in Yichun City. Factory development. The 30GWH power battery project is a large scale of 30GWH power battery projects that BYD intends to invest in Yichun City. According to the 2021 global power battery installed capacity rankings released by the Korean market research institution Snee Research, BYD's annual power battery installed capacity was 26.3GWh in 2021, and the global market share reached 8.80%. This also means that the capacity of the power battery project has exceeded BYD's power battery installed capacity last year. Behind BYD's huge investment, the company's demand for power batteries is strong. Since this year, with the volume of new energy vehicles under BYD, its power battery installed capacity has also risen. The company's production and sales show that from January to July this year, the company sold 803,900 new energy vehicles, a cumulative increase of 292.00%year-on-year; the total installed capacity of power batteries and energy storage batteries was about 41.33GWh, an increase of 163.11%year-on-year. According to the data of China's automotive power battery industry innovation alliance, in July this year, BYD (Fudi Battery) power battery vehicle volume reached 6.10GWh, and the domestic market share reached 25.23%, followed by Ningde Times. Among them, in terms of loading volume of lithium iron phosphate battery, BYD surpassed the Ningde era in July, and the market share reached 41.90%. From the perspective of the outside world, Yichun's rich industrial resources are a major reason to attract BYD's entry. Analysts told reporters that Yichun City is an important lithium industry base in my country. Not only is the reserves of lithium oxide, but in recent years, it has also created the entire industry chain of lithium battery new energy. Prior to BYD, Ningde Times and Guoxuan Hi -Tech had taken the lead in layout in Yichun City. "Looking at the world, the current lithium ore mainly comes from Australia. In the past two years, domestic companies are strengthening the development of lithium ore and salt lake in South America and Africa, and the development of domestic lithium resources is also the goal of the enterprise." Luo Xiaoli told reporters that Yichun City is located The downstream automobile industry and energy storage field in East China have developed rapidly, and have innate advantages in transportation. Not only BYD, under the high prosperity of the new energy vehicle market, the recently announced expansion of power battery manufacturers. Ningde Times announced on July 21 that the company intends to invest in the construction of the Jining New Energy Battery Industry Base Project in Jining City, Shandong Province. The total investment of the project does not exceed RMB 14 billion; 6 billion yuan is intended to invest in the capacity construction project of power energy storage lithium -ion battery, with a total production capacity of about 36GWh. It is worth noting that the pressure to reduce costs is that in addition to the construction of power battery projects, BYD will also build a comprehensive production base project for mineral selection and use of 100,000 tons of battery -level lithium carbonate and ceramic soil (including lithium) in Yichun. Luo Xiaoli believes that BYD's construction of lithium carbonate projects in Yichun has positive significance for its guarantee of lithium resources and reducing lithium cost pressure. Since the beginning of this year, the price of upstream raw materials of lithium batteries has remained high, which has brought a lot of pressure on downstream vehicle manufacturers. According to Wind data, as of August 12, the prices of 99.5%battery -grade lithium carbonate and 56.5%lithium hydroxide were 476,600 yuan/ton, 467,500 yuan/ton, respectively. From the perspective of the prediction performance growth rate of listed companies in the first half of the year, Shengxin Lithium, Rongjie, Tianqi Lithium Industry, Ganfeng Lithium Industry, Tianhua Chaojing, Tibetan Mining and other lithium mines and other lithium mines. Car companies. In this context, new energy vehicle companies represented by BYD are ensuring upstream resources in various ways. Since the beginning of this year, in addition to investing in domestic lithium ore enterprises and accelerating the lithium of salt lake, BYD has also actively deployed power battery recycling and searching for lithium mine resources overseas. BYD's construction of 100,000 tons of battery -level lithium carbonate projects in Yichun can also be regarded as a new action of the company in "guarantee", which may reduce its cost pressure to a certain extent. In addition, some analysts said that BYD ’s construction of power batteries and lithium raw materials projects in Yichun City’ s significance is not only to reduce costs, but also to extend to the industry upstream to form the development structure of the entire industry chain, which helps stabilize its power battery and new new. The expectations of the development of the energy vehicle industry ensure that it will not be limited due to fluctuations in the price fluctuations of non -ferrous metal raw materials in the future.

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