In the news of June 11, China International Capital Corporation pointed out in his latest research report that the permeability of lithium iron phosphate batteries is expected to increase to 45-50% in the future. Moreover, in overseas markets, a number of first-tier car companies, including Daimler and Volkswagen, said in their exchanges with investors that they began to consider the possibility of installing lithium iron phosphate batteries on their new energy models in the future.
Tesla's lithium iron phosphate model, as the "number one" of electric cars, has also been exported to Europe, not to mention Apple, which is rumored to be ready to build a car, is inclined to consider carrying lithium iron phosphate batteries in its electric models. From the frequent actions of the above major overseas car companies, it is not difficult to see that in the medium and long term, the development of lithium iron phosphate in the overseas market is worth looking forward to.
As we all know, compared with the frequent accidents of ternary batteries, lithium iron phosphate battery has higher safety. After strict safety testing, it will not explode even in traffic accidents. Coupled with the continued popularity in the field of new energy vehicles, the demand for lithium iron phosphate batteries has continued to pick up since the third quarter of 2020. According to SMM statistics, the total output of lithium iron phosphate in China's power battery production in April 2020 was 1.8 GWH, while by April 2021, this part of the production had soared to 6.19 GWH, an increase of 235.42% over the same period last year.
Not only that, the proportion of lithium iron phosphate in power batteries has also increased from 39.09% to 47.91%. The increase in the total demand for batteries and the increase in the proportion of superimposed applications has led to the overall demand for upstream lithium iron phosphate materials in our country, and the popularity of lithium iron phosphate is self-evident.
On June 11, a person familiar with the matter said 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. Before that, domestic Model Y was equipped with ternary power batteries supplied by LG.
According to statistics, the global installed capacity of power batteries reached 48GWH in the first quarter of 2021, an increase of 128.6% over the same period last year. SMM predicts that with the growth of the new energy market, the demand for lithium batteries in the new energy market is expected to reach 102 GWH in 2021, an increase of 60 per cent year on year. At present, the proportion of lithium iron phosphate in power battery applications is gradually increasing, the overall demand for upstream lithium iron phosphate in the new energy vehicle market will naturally increase Synchronize.
However, it should be noted that in the context of the skyrocketing demand for lithium iron phosphate, its production is somewhat in short supply, and there is still a shortage of iron phosphate, which is an important part of lithium iron phosphate battery. the tight supply of lithium iron phosphate continues. Fortunately, with the entry of some titanium dioxide enterprises, the shortage of iron phosphate may be alleviated in the fourth quarter. However, at present, there is still an obvious imbalance between supply and demand in the lithium iron phosphate market, and the demand is much higher than the actual production capacity of the industry. Good downstream demand is superimposed by upstream material price support, and SMM expects lithium iron phosphate prices to remain stable at high levels until June.
Of course, at a time when lithium iron phosphate is in short supply, many enterprises have begun to build lithium iron phosphate projects. On June 8, China Nuclear Titanium dioxide said on the interactive platform that the products of the first phase of the company's annual production of 100000 tons of lithium iron phosphate are battery-grade lithium iron phosphate. At present, the project has entered the final stage of environmental assessment, land use rights and project design, and is scheduled to start in the third quarter of 2021.
It is reported that the project, with a total investment of 12.108 billion yuan, is mainly the construction of lithium iron phosphate production line and supporting facilities, which is divided into three phases, with a total annual output of 500000 tons of lithium iron phosphate.
In addition to medium nuclear titanium dioxide, Lin Yang Energy also announced on June 10 that the company plans to set up a joint venture with Yiwei Power, a wholly-owned subsidiary of Yiwei Lithium Energy, with a total investment of no more than 3 billion yuan to build an annual 10GWh energy storage battery project, mainly producing lithium iron phosphate batteries.
According to SMM spot prices, as of June 11, SMM power lithium iron phosphate quoted 50000 yuan / ton, up 1200 yuan / ton from the beginning of the year, an increase of 31.6%.
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