SMM2 March 4: the new energy vehicle industry is developing rapidly in 2020. According to data from the China Automobile Association, monthly sales of new energy vehicles have increased sharply since July, to 1.367 million vehicles in 2020, an increase of 10.9 percent over the same period last year.
The China Automobile Association pointed out that electrification, intelligence, networking and digitization are accelerating the transformation and upgrading of the automobile industry, and the new energy vehicle market will change from policy-driven to market-driven. Especially under the strong promotion of the "New Energy vehicle Industry Development Plan (2021-2035)", the new energy vehicle market is expected to usher in sustained and rapid growth. The China Automobile Association expects sales of new energy vehicles to increase to 1.8 million in 2021.
Source: China Automobile Industry Association
Due to the accelerated outbreak of the new energy vehicle industry, it drives the upstream raw material market demand. According to the SMM quotation, the spot price of lithium iron phosphate has been rising continuously since December 17. As of today, the average price of lithium iron phosphate (power type) is 42500 yuan / ton, up 22.3% from December 17.
"Click to view the spot historical price of cobalt lithium.
At present, with the continuous development of technology, the disadvantage of "poor battery life" of lithium iron phosphate has been gradually improved, and it has the characteristics of low cost, good stability and high safety, and the demand for lithium iron phosphate is increasing. The leading enterprises in the industry also seize the dividend period and increase production capacity expansion one after another to seize market share. Therefore, SMM summarizes the situation of enterprises to expand the production of lithium iron phosphate since 2020.
China Nuclear Titanium dioxide: on the evening of February 3, China Nuclear Titanium dioxide announced that the company intends to invest in the construction of a lithium iron phosphate project with an annual production capacity of 500000 tons through Gansu Dongfang Titanium Industry Co., Ltd., a wholly-owned subsidiary. According to the announcement, the project is divided into three phases, with 100000 tons in the first phase, 200000 tons in the second phase and 200000 tons in the third phase, mainly for the construction of lithium iron phosphate production line and supporting facilities, with an estimated total investment of 12.108 billion yuan and an annual profit of 5.28 billion yuan.
German Nano: in late January, the company, Ningde Times and the people's Government of Jiang'an County signed the Investment Agreement on the Project of Lithium Iron Phosphate with an annual output of 80, 000 tons in Jiang'an County, Yibin City, Sichuan Province. the total investment of the project is about 1.8 billion yuan.
Project name: Jiangan county annual output of 80, 000 tons of lithium iron phosphate project; project overview: the total investment of the project is about 1.8 billion yuan, land area is about 447 mu, construction of 80, 000 tons of lithium iron phosphate project; construction content: divided into two phases of construction, the total construction period is 36 months
Fulin Seiko: on the evening of January 8, Fulin Seiko announced that Jiangxi sublimation, a subsidiary of the company, plans to invest in the construction of a new energy lithium cathode material project with an annual output of 50,000 tons, with an estimated total investment of 600 million yuan. the project will be implemented in Shehong Western International Technical Cooperation Industrial Park. According to the announcement, the project is expected to have an annual production capacity of 50,000 tons by the end of December 2021, and the specific completion time of the project depends on the progress of the project.
Longyi Technology: at the end of December 2020, it was announced that it planned to acquire lithium iron phosphate-related assets and businesses within the scope of Beitre's consolidated statements through itself or its subsidiaries, and Beitri agreed to acquire the above-mentioned underlying assets and businesses. the main purpose is to further expand the company's business system by making use of the technical and market advantages owned by Beit Rui. The signing of this "framework agreement" is also an important layout made by the company to comply with the development trend of the automobile industry, which will help to promote the long-term development of the company.
BYD: in September 2020, BYD's lithium iron phosphate battery factory in Manaus, Brazil was officially put into production, with an annual production capacity of 18000 battery modules. This is BYD's third factory in Brazil and the first lithium iron phosphate battery factory in Brazil, with an investment of about 15 million reais (US $2.7 million) and covers an area of 5000 square meters.
Xiangtan electrification: on July 23, 2020, Xiangtan electrified said that Yuneng New Energy currently has three production bases, which are located in Xiangtan, Hunan, Jingxi, Guangxi and Suining, Sichuan. At present, the lithium iron phosphate production line with an annual output of 20,000 tons is under construction in Suining, Sichuan Province. after the above production line is put into production, the total annual production capacity of lithium iron phosphate of Yueneng new energy can reach about 50,000 tons.
On December 25, Hunan Yuneng New Energy Battery Materials Co., Ltd. recently completed the capital increase, the capital increase price is 3.3419 yuan per share, of which Ningde Times New Energy Technology Co., Ltd., BYD Co., Ltd. and other strategic investors and employee shareholding platforms increase capital with cash, with a total capital increase of 648 million yuan.
Citic Securities estimates that the demand for lithium iron phosphate cathode materials in 2020, 2021 and 2022 is 130000 tons, 240000 tons and 340000 tons respectively. Taking into account the future global demand for power batteries and energy storage batteries, it is estimated that the global demand for lithium iron phosphate cathode materials will be about 980000 tons in 2025, corresponding to a market size of about 28 billion yuan, with an average annual compound growth rate of 43 percent from 2020 to 2025.
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