[SMM Express] climb to new heights! Domestic Tesla Model Y will carry the company's lithium iron phosphate battery with an intraday stock price of more than 449 yuan in Ningde Times.

On June 11, the Ningde era continued to rise after a brief decline in morning trading, rising more than 3.5% at one point, and the share price rose to a new high of more than 449 yuan per share. By the midday close, the Ningde era had risen 3.49 per cent to 449.8 yuan per share, and the market capitalization had once again brushed a new high of 1.05 trillion.

On the news, a person familiar with the matter said this morning that domestic Tesla Model Y may plan to launch a lithium iron phosphate battery version of the (LFP) model in July, which will be equipped with Ningde era LFP batteries. Prior to this, the domestic Model Y was equipped with ternary power batteries supplied by LG. The cooperation with Tesla means that Ningde era takes a step forward in the power battery market.

It's not just Tesla. A few days ago, it was rumored that Apple was negotiating with Ningde Times and BYD on the supply of batteries for electric cars. It is reported that Apple prefers lithium iron phosphate batteries to ternary batteries that use nickel and cobalt. In this regard, the Ningde era said it would not comment.

It is worth mentioning that according to the news on June 9, China International Capital Corporation pointed out in his latest research report that the permeability of lithium iron phosphate battery is expected to increase to 45-50%. And considering that overseas markets, including first-tier international car companies such as Daimler and Volkswagen, have also revealed that they will use lithium iron phosphate batteries in their entry-level models, Ningde Times and BYD, which have made great achievements in the field of lithium iron phosphate batteries, are worth looking forward to in the future.

Citic Securities also expressed optimism about the future of the Ningde era as the leader of the global lithium iron phosphate battery in the research report. And Citic Securities believes that Ningde era, as a global power battery leading company, is now deeply bound to domestic mainstream electric car companies; at the same time, it also provides comprehensive and in-depth support for overseas Tesla and other giant customers. The company's growth certainty is high, with long-term allocation value, continue to recommend, the target price of 435 yuan per share, maintain the "buy" rating.