[1.16 Lithium Express] Tesla and Glencore negotiate cobalt supply contract * Tengshi New Energy vehicle registered capital increased by 700 million

[Tesla and Glencore are negotiating cobalt supply contracts to meet demand at Tesla's Shanghai plant] Glencore is negotiating a long-term contract to supply cobalt to Tesla's new electric car plant in Shanghai, according to people familiar with the matter. The deal will help Tesla avoid a crunch in the supply of key battery metal raw materials as it enters China, the world's largest car market. It also marked Glencore's victory after tough times for Glencore's cobalt business. Executives at the two companies negotiated the terms of the deal ahead of the official delivery of the first cars at Tesla's Shanghai plant earlier this month, one of the people familiar with the matter said.

[lithium battery and recycled lead business revenue growth Nandu Power is expected to exceed 363 million net profit in 2019] on January 14, Nandu Power (300068) disclosed its 2019 annual performance forecast, and the company expects to achieve a net profit of 363 million-436 million yuan in 2019, an increase of 50-80 percent over the same period last year. Among them, the gross profit margin of lead battery business has increased, lithium battery and recycled lead business revenue have achieved growth, performance contribution increased compared with the same period last year; the operation of civil power battery business has improved compared with the same period last year.

[Tengshi New Energy vehicle registered capital increased by 700 million BYD and Daimler as the two major shareholders] according to Tianyan check data, Shenzhen Tengshi New Energy vehicle Co., Ltd. increased its registered capital by 13.83 percent on January 14, from 5.06 billion to 5.76 billion. Shenzhen Tengshi New Energy vehicle Co., Ltd. was established in February 2011, the company's business scope includes passenger cars, electric vehicles and so on. The company is a joint venture between BYD and Daimler, Germany, each with a 50 per cent stake. The legal representative of the company is Wang Chuanfu, chairman and president of Hubertus Troska, BYD, as one of the directors.

[Zepin Macro: predicting that Tesla's annual sales will reach 3 million vehicles in 2030] Zeping Macro WeChat official account released a Tesla research report, which pointed out that with the deepening of vertical integration, Tesla is constantly opening up its business boundaries, but it is also facing problems and disputes in terms of production capacity, product safety and quality, cash flow, and so on. Tesla's future competitors are not only traditional OEM, such as Volkswagen and Toyota, but also high-tech companies such as Google, Nvidia and Uber, as well as oil giants, Chinese traditions and new car makers. The global market pattern of new energy vehicles is still variable. Global electric vehicle sales are forecast to reach 35 million by 2030, Tesla will sell 3 million vehicles a year, and overseas markets will account for more than 50 per cent of revenue.

It is reported that GAC plans to take a stake in Weilai and is currently raising funds for this purpose. [GAC will invest about US $1 billion in Wei] it is reported that GAC plans to take a stake in Weilai. The amount is about $1 billion, according to people familiar with the matter. Eou Automobile contacted Wei for the first time, and the other party responded: subject to the announcement of the listed company.

Volkswagen sold 4.23 million SUV vehicles in China in 2019, up 81 per cent from a year earlier. Volkswagen Group recently announced deliveries in the Chinese market in 2019. Volkswagen delivered a record 4.23 million vehicles in China in 2019, up 0.6 per cent from 4.21 million in 2018. Since FAW-Volkswagen launched the SUV model at the end of 2018, Volkswagen's market share in the SUV market has gradually increased. Volkswagen delivered 812500 SUV models in 2019, up 81.6 per cent from a year earlier. In addition to the surprise of the SUV, Volkswagen finally launched a pure electric model in 2019. At present, Volkswagen brand a total of seven new energy models are on sale, Volkswagen imported flagship new energy model Touareg PHEV will also be on the market in 2020.

[Kia releases medium-and long-term strategic goals: 29 trillion won to push 11 pure electric vehicles by 2025] on January 14, South Korea's Kia Automobile released the medium-and long-term strategic goal "S Plan" (Plan S), proposed to accelerate transformation and upgrade, and gradually establish a leading position in the future automotive industry, including electrification, mobile travel services, intelligent networking and self-driving. In line with its medium-and long-term strategic goals, Kia will invest 29 trillion won (17.3 million yuan) in 11 pure electric vehicles by 2025, with a global market share (excluding China) of 6.6% and a 25% share of environmentally friendly vehicles, thus establishing its leading position in electrification. Kia's first proprietary pure electric car will be launched in 2021.

2019 is the first year of the development of hydrogen fuel cell vehicles in China, but its development does not meet the expectations of the industry. According to the promotion target statistics issued by some local governments, a total of about 5000 fuel cell vehicles will be promoted in 2020, and the total number of vehicles may reach 10, 000 by the end of the year. If the plans are implemented smoothly, hydrogen vehicle sales in 2020 will nearly double from last year. Due to the high technical barriers and cost investment, the hydrogen fuel cell power system will still be dominated by Yihuatong, Guohong hydrogen Energy, Shanghai reshaping and other enterprises in the current market, which is similar to the pattern of battery manufacturers in the pure electric vehicle industry chain. Bus whole vehicle, the market will be Yutong bus, Zhongzhi Automobile, Shenlong bus, BAIC Futian and other manufacturers with hydrogen energy bus sales experience.

SMM Cobalt Lithium small Metal Research team

Hu Yan 021-51666809

Qin Jingjing 021-51666828

Mei Wangqin 021-51666759

Huo Yuan 021-51666898

Wuyang 021-51666818

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