Industry chain analysisFrom lithium resources to lithium batteries for new energy vehicles, lithium carbonate and lithium hydroxide are first extracted from upstream spodumene, lithium concentrate/brine, and lithium carbonate is divided into industrial grade lithium carbonate and battery grade lithium carbonate (higher purity). ), battery-grade lithium carbonate/lithium hydroxide is an indispensable raw material for the positive electrode material of lithium battery. With positive electrode material, negative electrode material + electrolyte + separator are also required. A total of these four pieces constitute the entire battery pack of lithium battery. The general process is as follows:
Spodumene, lithium concentrate/brine → industrial grade lithium carbonate, battery grade lithium carbonate → lithium battery cathode material (core raw material lithium carbonate) cathode material + anode material (mainly carbon) + electrolyte (core material lithium hexafluorophosphate) + separator →Lithium battery. Then there are battery management systems, motors, electronic controls, charging piles for supporting facilities, and electric vehicles.
Among them, the battery aspects that everyone is most concerned about:
Materials account for 70% of the entire battery, 20% for labor, water and electricity, and 10% for depreciation.
In the cost of battery materials, the positive electrode accounts for 30%-40%, the diaphragm accounts for 15%-30%, the electrolyte accounts for 20%-30%, and the negative electrode accounts for 5%-15% (specifically, it will fluctuate with the fluctuation of raw material prices).
2. Major companies in each link
Spodumene, Lithium Concentrate/Brine: Four giants – Chile SQM, US FMC, Germany Chemetall, and Tianqi Lithium’s 51%-owned Talison, Tianqi Lithium.
Lithium carbonate: Tianqi Lithium Industry and Ganfeng Lithium Industry are mainly two in China, and Yahua Group and Rongjie Co., Ltd. are closely related to the concept. Salt Lake Co., Ltd., which extracts lithium from brine, has a small scale.
Cobalt products: Huayou Cobalt and Hanrui Cobalt are the main ones in China, and CMOC has a certain layout.
Cathode materials: At present, the two mainstream technology paths are lithium iron phosphate and ternary materials. The gross profit is good. Many companies such as Dangsheng Technology, Shanshan Co., Ltd., GEM, Xiamen Tungsten Industry and so on are involved.
Negative electrode material: It is not difficult, the price is stable, there will be no explosive growth, and the concentration is higher than that of the positive electrode material. Betri, Shanshan and Putailai are the industry leaders.
Electrolyte: The core material of the electrolyte is lithium hexafluorophosphate, supplemented by the electrolyte solvent, the core material and electrolyte of polyfluoride and Tianci materials are all made, and Xinzhoubang, Jiangsu Guotai, and Shanshan Co., Ltd. are used as the electrolyte. Among them, the new lithium salt LiFSI, one of the key materials in the electrolyte of the ternary power battery, is mainly the layout of Xinzhou, and Shi Dashenghua is the absolute leader of the electrolyte solvent (dimethyl carbonate).
Diaphragm: The power battery diaphragm is technically difficult, so the gross profit margin is very high, which is still more than 50%. The domestic high-end diaphragms include Cangzhou Mingzhu, Xingyuan Materials, and Enjie Co., Ltd. began to realize import substitution.
3. Industry moat
Industry Chain Barriers – Resource Side
For the moat of the industrial chain, resources and technology are the core barriers. Due to the scarcity of upstream lithium cobalt → lithium special carbonate and cobalt tetroxide, it appears to be in short supply when the industry demand grows explosively, which is particularly valuable. , Ganfeng Lithium, Huayou Cobalt, and Hanrui Cobalt are all the same.
Industry Chain Barriers – Technology Side
Technical barriers exist widely in all aspects of the industrial chain, with varying degrees of depth. There are four major materials:
The anode material technology is relatively stable and mostly improved. Graphene additives and graphene anode materials are the direction of future efforts.
Electrolyte pays more attention to product quality, drives away small enterprises through price wars, and pays attention to production capacity clearance in the future.
Diaphragm is the last material to achieve import substitution, and the technical threshold is high.
The last thing to talk about is the positive electrode material. The positive electrode material is also greatly affected by the cost, mainly the upstream lithium cobalt price.
We are producing different lithium polymer battery with different series, and they are 3.7V 7.4V 11.1V 14.8V nominal voltage.
We’ve read a post about the top 10 global lithium-ion battery manufacturers on a first-class level. I make a brief introduction to them. You can click here to go through the specific page.
Business Type: Automotive and clean energy company
Headquarters:Austin, Texas, United States
Years of Experience: 19 years
Certificates/Awards:ISO 9001, 14001, 18001
Anyone who has been up to date with the news knows about Tesla and how it is changing the face of technology. While Tesla’s self-driving cars are becoming immensely popular, there is a lot to be said about their lithium-ion batteries.
Business Type: Electronic technology company
Headquarters:Kadoma, Osaka, Japan
Years of Experience: 96 years
Certificates/Awards:ISO 14001, IATF16949
Panasonic is the co-owner of the Tesla-Panasonic gigafactory in the US for lithium-ion battery manufacturing. With nearly a century’s worth of experience, it is natural that Panasonic knows the demands of the industry and creates solutions specifically for them.
Business Type: Consumers electronic company
Headquarters: Seoul, South Korea
Years of Experience: 75 years
Certificates/Awards: ISO 9001, 14001, 45001
LG is a worldwide contender in consumer electronics and deserves this spot on the list of the top 10 lithium-ion battery manufacturers in the world. LG’s manufacturing focuses on providing batteries and energy storage solutions with respect to motorcycles and household appliances.
Business Type: Battery manufacturer
Headquarters: Ningde, China
Years of Experience: 11 years
Certificates/Awards: ISO 27001, 50001
Contemporary Amperex Technology Co., Limited or CATL is the leading lithium battery manufacturer in the world. CATL is one of the most prominent brands manufacturing energy storage systems and lithium ion batteries.
Business Type: Manufacturing company
Headquarters: Shenzhen, China
Years of Experience: 27 years
Certificates/Awards: ISO 14001
BYD or Build Your Dreams is a globally recognized brand for its sustainable solutions and lithium ion batteries. Their manufacturing process is focused on renewable energy sources and efficient energy storage.
Business Type: Battery and electronic materials manufacturer
Headquarters: Yongin-si, South Korea
Years of Experience: 52 years
Certificates/Awards: ISO 9001, IATF 16949
Samsung has been a leading producer of electronics and batteries in the global scenario for a long time. They have been producing creative solutions when it comes to batteries for different industrial applications and related energy storage solutions.
Business Type: Energy solutions company
Years of Experience: 15 years
Certificates/Awards: IATF 16949
SK Innovation is focused upon providing energy efficient solutions that will help make the future more resourceful and technologically advanced. SK Innovation is a leading company in South Korea’s energy industry and creates intelligent solutions related to alternative energy.
Headquarters: Changzhou Jiangsu, China
CALB is a widely chosen manufacturer by small and medium businesses as well as big corporations for their energy solutions and life cycle management. They have a booming market in commercial vehicles, passenger vehicles, special applications, and energy storage.
Headquarters: Tokyo, Japan
Launched in 2007 by NEC Corporation, Nissan Motor Company, Ltd., and NEC Tokin Corporation, the Automotive Energy Supply Corporation, or AESC, started manufacturing lithium ion batteries in 2010. Their first project was to manufacture batteries for the Nissan FUGA HYBRID, followed by the Nissan LEAF.
Business Type: Battery manufacturer
Headquarters: Shizuoka Prefecture, Japan.
Years of Experience: 26 years
PEVE is a battery manufacturer with a focus on providing energy efficient solutions that are not found elsewhere among their competitors. They have a specialist team of research and development specifically for providing HV battery systems.
Reliable & durable lithium-ion battery manufacturer in China with over 10 years experience.
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