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Focus Power tool Pingmei Sunshine Annual 1.5GWh Lithium Battery Project signed
Sep 21,2020 15:44CST
The content below was translated by Tencent automatically for reference.

SMM News: a few days ago, Pingping Coal Sunshine annual 1.5GWh lithium battery project signing ceremony was held in Xinxiang City, Henan Province, which is Pingping Coal Shenma Group after the construction of Pingping Coal Lithium Power Phase I, II again to expand production capacity.

It is understood that the project by Pingping Coal Shenma Group and Xinxiang Fengquan District Government, Sunshine Power three parties signed a contract for cooperation. The project plans to introduce advanced equipment from South Korea and build two fully automatic 18650 lithium battery production lines with a total annual production capacity of 1.5GWh. The total investment of the project is 1 billion yuan and the construction period is 9 months. The products are ternary lithium batteries for power tools, which are mainly sold to overseas markets.

In recent years, with the continuous progress of lithium technology and the gradual decline of cost, there are more and more applications of lithium battery in the field of power tools. the cordless and portability of power tools make lithium battery grow well in the field of power tools, and the market keeps growing steadily. The use of lithium batteries in power tools has grown from 3 strings to 8-10 strings, and the number of applications has increased exponentially. Therefore, there is great potential for the growth of lithium electricity market for power tools in the future.

Some research data show that the increment of cordless power tools is huge in the next few years, with an average annual compound growth rate of 6.6%. The market size of cordless power tools is about $15 billion in 2017, and it is expected that the market space for cordless power tools will exceed $18 billion in 2020 and $19.35 billion in 2021. Under such a development trend, domestic manufacturers have accelerated the development of lithium battery power tools.

It is worth noting that lithium electrification of power tools has also been supported by many countries in terms of policy. In January 2017, the European Union issued new rules prohibiting the use of Ni-Cr batteries in wireless power tools, and in November 2017, China launched an industry standard for lithium batteries for power tools to solicit opinions according to an industry standard plan issued by China's Ministry of Industry and Information Technology.

Pingdingmei Shenma Group said that in recent years, the group has taken the new energy and new materials industry as its main direction, vigorously developed high-end products such as lithium batteries, photovoltaic single crystal cells and silicon-carbon materials, and actively explored forward-looking industries such as semiconductors, carbon fiber and graphene. Efforts will be made to build the whole photovoltaic industry chain and energy storage industry chain. It is estimated that the new energy and new materials industry will achieve 30 billion yuan in revenue and 3 billion yuan in profits within three years.

The three parties signed a contract to build an annual 1.5GWh lithium battery project in Pingping Coal Sunshine, which will help to give full play to their respective advantages, open up the industrial chain from materials to battery products, and speed up the building of a strategic base for new energy and new materials in Xinxiang area. All parties take this signing as an opportunity to further build a new platform and mechanism for cooperation and development, jointly promote the smooth implementation of cooperation projects and achieve results at an early date, and make new contributions to strengthening the new energy and new materials industry and promoting economic development.

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