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Hongguang MINI EV sells more than 15000 vehicles a month, and more than one battery company competes for matching.
Sep 7,2020 08:30CST
The content below was translated by Tencent automatically for reference.

SMM News: if you can't get close to Tesla, think of a way to get close to Wuling Hongguang.

At present, in terms of sales volume, the only one who can challenge Tesla Model 3 should be Wuling Hongguang MINI EV.

Recently, SAIC GM Wuling released monthly sales figures. Wuling Hongguang MINI EV, which just went on sale in late July, achieved an impressive record of 15000 vehicles in August. In contrast, Tesla Model 3, the champion of electric vehicle sales in China in July, sold 11014 vehicles. If nothing happens, Hongguang MINI EV has already won the top spot in August, which has been dominated by Tesla Model 3 for seven months, becoming the highest monthly sales of pure electric vehicles in the Chinese market.

Sales exceeded 7000 in one week on the market, 15000 in 20 days on the market, and 15000 in August. Hongguang MINI EV has become the fastest selling mini pure electric vehicle in the world. It is obvious that the new energy vehicle "King of popularity" must also have the position of Hongguang MINI EV. Driven by the soaring sales of Hongguang MINI EV, the installed capacity of supporting battery suppliers Guoxuan Tech and Xingheng Power supply also increased rapidly in July. With the help of Wuling Hongguang MINI EV, Guoxuan Hi-Tech's installed capacity rose to the fourth in the Chinese market in July, and Xingheng Power rose to 13th place from 24th in June, which really achieved a "win-win" between car companies and suppliers.

Model 3 / Hongguang MINI brings goods LG Chemistry / Guoxuan Tech / Xingheng Power supply has an eye-catching installed capacity

Since the mass production of the Tesla factory in Shanghai Harbor, the sales of Tesla's Model 3 have been crushing the main models of domestic car companies, making it the best-selling electric car in the Chinese market. According to data from the Power Battery Application Branch, Tesla (Shanghai) produced 62357 Model 3 vehicles from January to July this year, far higher than other domestic electric models. Thanks to the hot sales of Tesla (Shanghai) Mdoel 3, LG Chemistry, which is equipped with power batteries, has also increased its installed capacity from January to July this year. In the previous July, the installed capacity of power batteries in the Chinese market reached 3.29GWhh, ranking second, second only to the Ningde era and higher than BYD.

In fact, thanks to the contribution of Tesla (Shanghai) factory, LG Chemistry has achieved a big counterattack in the ranking of power battery installation in the global market this year. According to a recent survey released by SNE Research, a South Korean energy market analysis agency, LG Chemical has installed 13.4 GWH power batteries in the global market from January to July this year, an increase of 97.4% over the same period last year, accounting for 25.1% of the market share, surpassing the Ningde era to become the world's largest installed capacity. Among them, the installed capacity contributed by Tesla (Shanghai) Model 3 is about 3.20GWh.

It is worth noting that in the Ningde era, the installed capacity of power batteries in the Chinese market from January to July was about 10.79 GWH, and overseas installed capacity also increased steadily. Tesla (Shanghai) Model 3 contributed a lot to LG Chemistry, which surpassed the Ningde era.

Tesla Model 3, as the best-selling single electric car in the world, whether it is LG Chemistry or Panasonic battery, all take off because of Tesla's "thigh". At the beginning of this year, Ningde Times also confirmed that it was bound to the Tesla (Shanghai) factory and began to supply it in July. At that time, the global power battery troika Ningde era, LG Chemical and Panasonic battery seats will probably be readjusted, which is worth looking forward to.

Of course, it's not easy to get into Tesla's supply chain, and not all battery manufacturers have the opportunity, but the Model 3 is not the only best-selling electric model.

If the Model 3 is positioned as a mid-to-high-end electric model, then the popularity of the Hongguang MINI EV also gives opportunities to other battery manufacturers.

Hongguang MINI EV positioning is a "miniature household pure electric vehicle", with a power of only 9kWhit14kWhh and a range of only 120km~200km. But this model has also exploded the market, and sales continue to soar. According to SAIC GM Wuling, the cumulative order for the model has exceeded 50,000 since it was launched 20 days ago.

The battery manufacturers behind it benefited a lot in July. According to data from the Power Battery Application Branch, Guoxuan Hi-Tech installed about 364.11MWH in July, an increase of 155.2% over the same period last year and 81.8% month-on-month growth, and the number of power batteries installed in the Chinese market also returned to fourth place. In July this year, Hongguang MINI EV produced 7403 vehicles, of which 3997 were equipped with power batteries.

In July, another power battery supporting enterprise of Hongguang MINI EV came from Xingheng Power supply. In July, Xingheng Power provided power batteries for 3406 Hongguang MINI EV; in July, Xingheng Power supply installed 38.27MWH power batteries, an increase of 435% from the previous month, and its ranking of installed capacity in the Chinese market also rose to 13th from 24th in June.

A number of enterprises are scrambling to supply batteries for Hongguang MINI EV

With the hot sales of Hongguang MINI EV, the industry is also very optimistic about its market prospects. In addition to Guoxuan Hi-Tech and Xingheng Power, which have begun to supply them earlier, other battery manufacturers are also scrambling to enter its battery supply chain.

In late July, Penghui Energy revealed that it had entered the Hongguang MINI EV supply chain. "the latest popular SAIC GM Wuling model with Penghui energy power battery system: Wuling Hongguang MINI EV has successfully been announced by China's Ministry of Industry and Information Technology, with a power of 29kW and a range of up to 200km." According to Penghui Energy, Penghui Energy is equipped with lithium iron phosphate power cell with higher safety performance. The rated voltage of the power battery system is 109V, the rated capacity is 150Ah, and the mileage can reach 200km. The battery not only has high safety performance, but also has a long service life, and its higher power gives it an advantage over low-speed electric cars.

According to the catalogue of recommended models for the Promotion and Application of New Energy vehicles (batch 9 in 2020) released by the Ministry of Industry and Information Technology on August 24th, Ningde Times and Huating Power also appeared on the list of battery suppliers for Hongguang's new MINI EV models. At this point, Hongguang MINI EV battery suppliers have Guoxuan Hi-Tech, Xing Heng Power, Penghui Energy, Ningde Times and Huating Power 5 battery production enterprises.

In terms of battery types, there are not only lithium iron phosphate batteries, but also ternary batteries, as well as lithium manganate batteries. Its China Xuan Hi-Tech, Penghui Energy and Ningde era provide lithium iron phosphate batteries; Huating Power provides ternary batteries; and Xingheng Power provides manganese-based multi-component composite lithium batteries. The energy density of the battery system is mainly between 100W and 112W / kg, and the mileage is in the range of 120-200km.

With the addition of Ningde Times, Penghui Energy and Huating Power, it is believed that Hongguang MINI EV will steadily increase its battery supply, and it is expected that Hongguang MINI EV models supporting the above-mentioned battery enterprises will also be put on the market one after another in the near future. At the same time, with the continuous popularity of this model, it will also lead to the growth of power battery installed capacity of relevant supporting battery production enterprises.

The popularity of Hongguang MINIEV seems to be a bit unexpected. Many car companies have launched low-power mini electric vehicles before, but not many of them have attracted such attention and sales in the market. SAIC GM Wuling Hongguang said that in addition to excellent product power, trendy and close to young consumer groups of marketing is also Hongguang MINI EV magic weapon. It is believed that in the follow-up, many car companies will also learn from Wuling Hongguang MINI EV's strategy to compete in the market of low-power mini-electric vehicles, which is expected to lead to the growth of power battery installation in relevant battery manufacturers.

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