For a long time, there has been an endless debate on the two mainstream technology routes of ternary lithium battery and lithium iron phosphate battery in the market. A reporter from the Financial Associated Press learned from industry insiders that with the breakthrough in the battery life technology of lithium iron phosphate and the gradual decline of subsidies for new energy vehicles, the installed capacity of lithium iron phosphate battery has continued to rise recently, and there is even a trend to catch up with the installed capacity of ternary batteries, which also drives the industrial chain into the trend of increasing production.
On the evening of December 13th, Tianyuan shares (002386.SZ) announced that it plans to set up a new company to invest in the construction of 100000 tons / year lithium iron phosphate cathode material project, supporting an annual production capacity of 100000 tons of iron phosphate precursor project and an annual production capacity of 80, 000 tons of wet process phosphoric acid project, with a total planned investment of 2.389 billion yuan. The construction period of the project is expected to be 24 months, and the annual net profit of the project is estimated to be 689 million yuan.
It is worth noting that this layout means that Tianyuan shares will have ternary lithium battery, lithium iron phosphate battery two major technical routes corresponding to the project capacity. A person close to the company told the Financial Associated Press that the company's planned production capacity of ternary cathode materials in 2021 is 18000 tons; at present, the production capacity of ternary cathode materials is 30, 000 tons and precursors 10, 000 tons, both of which are 150000 tons in the medium-term plan.
With regard to the logic of the layout of lithium iron phosphate battery-related projects, the above-mentioned person told the Financial Associated Press: "New energy is the development trend in the future, but the future is diversified development trend. Ternary and lithium iron phosphate are the mainstream technology routes in the future. Two kinds of battery materials have their advantages; Yibin City to build a world-class new energy industry base, Tianyuan is the focus of development enterprises; In addition, Tianyuan shares have phosphate rock, iron resources, in doing lithium iron phosphate related projects have raw material advantages. "
It is reported that Mabian Infinity Mining Company, a subsidiary of listed companies, has phosphate rock resources and a large number of high-quality iron raw materials produced by the high-titanium slag project of Sichuan Pingshan Tianyuan Titanium Industry Company, which comprehensively solves the supply of phosphorus and iron resources in this project. In addition, the above-mentioned people said that the company currently has yellow phosphorus reserves of more than 30 million tons and a production capacity of 900000 tons.
The advantages of the technical route of lithium iron phosphate and the gradual optimization of the duration of the voyage are also one of the reasons for the layout of Tianyuan shares this time. The Financial Associated Press reporter learned from people in the industry that the ternary lithium battery has a long battery life but high cost, and the lithium iron phosphate battery has a low cost and high safety but a slightly shorter battery life; at present, the battery life of lithium iron phosphate battery is being continuously optimized. Take 002594.SZ 's "Han" series new energy vehicle with lithium iron phosphate battery (blade battery) as an example, its range has reached 600km. Even if the raw materials of lithium iron phosphate batteries have increased recently, the cost is now about 20% lower than that of ternary batteries. In addition, the domestic reserves of cobalt and nickel involved in the raw materials of ternary lithium batteries are very few, and there is a problem of "sticking neck" in the raw materials.
The output and loading capacity of lithium iron phosphate batteries are indeed increasing rapidly. According to the November power battery data of the China Association of Automobile Manufacturers, from January to November, the output of lithium iron phosphate batteries in China totaled 105.3 GWH, accounting for 56.0 percent of the total output, a cumulative increase of 275.7 percent over the same period last year, far exceeding the overall increase of 175.5 percent in the same period. In terms of loading capacity, in November this year, the number of power batteries loaded in our country was 20.8 GWH, up 96.2% from the same period last year and 35.1% from the same period last year. Among them, lithium iron phosphate batteries were loaded with a total of 11.6 GWH, up 145.3% from the same period last year and 37.2% from the same period last year.
The growth of the battery end drives the whole industry chain to expand production one after another. 300919.SZ recently said that it plans to invest 10 billion yuan to build an integrated production line of 200000 tons of iron phosphate and lithium iron phosphate material production line; in addition, Taihe Technology (300801.SZ), Longbai Group (002601.SZ), Fulin Seiko (300432.SZ), Chuanjin Nuo (300505.SZ), Chuanfa Dragon Python (002312.SZ) have also recently expressed the increase of lithium iron phosphate related project production capacity. It is worth mentioning that as of today, Tianyuan share price is 12.71 yuan, an increase of 8.35%.
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