The Rox SUV has an EREV (range extended) powertrain, seven seats and a nice appearance. Let's get to know it better.
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In the Qiji Energy solution, a single battery block has a capacity of 171 kWh and heavy-duty trucks can choose to use 1-3 blocks.
Chinese power battery giant CATL has unveiled a battery swap solution for heavy-duty trucks, following the release of a similar solution for passenger cars early last year.
CATL unveiled the Qiji Energy solution, consisting of battery swap stations, battery blocks and a cloud platform, at an online launch event today.
The battery swap stations for heavy trucks use adaptive tuning technology and cover the full wheelbase of heavy trucks.
The battery blocks, or electric blocks, are powered by CATL's third-generation lithium iron phosphate batteries with no heat dispersion technology and a cycle life of over 15,000 cycles.
Similar to EVOGO's Choco-SEB (swapping electric block), which it released last year, the solution for heavy trucks supports flexible use of the number of batteries in the vehicle.
With a single electric block capacity of 171 kWh, heavy trucks can choose to use 1-3 blocks, and the entire battery replacement process takes only a few minutes.
The cloud platform helps drivers make battery swap service appointments, plan driving routes and allows CATL to manage assets.
In a vehicle-battery separation model, a heavy truck can save between RMB 30,000 (US$4,200) and RMB 60,000 in annual costs, CATL said.
On January 18, 2022, CATL officially announced EVOGO, the battery swap brand for passenger cars, primarily for the shared mobility market.
EVOGO offers a battery swap solution consisting of battery blocks, fast battery swap stations, and an app.
The battery block, called Choco-SEB by CATL, is a mass-produced battery developed specifically for shared mobility, allowing consumers to select one or more batteries to match their mileage needs.
The battery block can be adapted to 80 percent of the world's models already on the market and those developed on all-electric platforms that will be available in the next three years, CATL said at the time.
On June 6, CATL said EVOGO's battery swap service became available in Fuzhou, the capital of Fujian province, with the first three battery swap stations already in operation. Prior to that, the service was already available in Xiamen, Hefei and Guiyang.
($1 = RMB 7.1424)
CATL unveils module to bracket battery technology for heavy trucks
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CATL remains the largest power battery maker in China, but BYD's lead in the LFP market expanded in May.
After regaining the top spot in the lithium iron phosphate (LFP) market over CATL in April, BYD extended its lead in this segment in May.
In May, China's power battery installations were 28.2 GWh, up 52.1 percent year-on-year and up 12.3 percent from 25.1 GWh in April, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL's power battery installed base in May was 11.67 GWh, ranking first with a 41.31 percent share, up from 40.83 percent in April.
BYD's power battery installed base in May was 8.68 GWh, ranking second with a 30.72 percent share, up 1.61 percentage points from 29.11 percent in April.
CALB ranked third with a 7.76 percent share of 2.19 GWh in May, down 0.98 percentage points from 8.74 percent in April.
Eve Energy ranked No. 4 in May with 1.33 GWh installed base and 4.71 percent share, down 0.77 percentage points from 5.48 percent in April.
Gotion High-tech ranked 5th in May with 1.01 GWh of installed base and a 3.58 percent share.
Gotion ranked fourth in March with 4.51 percent share, but was overtaken by Eve Energy in April.
China's ternary battery installed base in May was 9.0 GWh, accounting for 32.0 percent of total installed base, up 8.7 percent year-on-year and up 12.8 percent from April.
The installed base of LFP batteries was 19.2 GWh, accounting for 67.8 percent of the total installed base, up 87.2 percent year-on-year and up 11.8 percent from April.
In the LFP battery market, BYD installed 8.68 GWh in May, topping the list with a 45.30 percent share, up from 42.68 percent in April.
CATL's installed base in the LFP battery market in May was 5.90 GWh, ranking second with a 30.81 percent share, down from 33.65 percent in April.
In March, CATL's share of the LFP market was 39.47, higher than BYD's 38.88 percent, marking the first time it has overtaken BYD in this segment during the year.
BYD's share of the LFP market rebounded to 42.68 percent in April, regaining the lead over CATL's 33.65 percent.
Eve Energy and CALB ranked third and fourth in the LFP battery market with 6.33 percent and 6.14 percent shares, respectively.
In the ternary battery market, CATL ranked first with 63.87 percent of the installed base in May with 5.77 GWh.
CALB and LG Energy Solution ranked second and third in the ternary battery market with 11.26 percent and 7.48 percent shares, respectively.
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CATL and Arun Plus have entered into a CTP partnership agreement to provide the Thai company with a CTP production line and share CTP production technology.
(Image credit: CATL)
Chinese power battery giant CATL has entered into a new agreement with Thailand's Arun Plus, following the signing of a CTP (cell to pack) technology licensing agreement between the two a year ago.
CATL recently entered into a CTP partnership agreement with Arun Plus to provide the Thai company with a CTP production line and share CTP production technology, according to a press release yesterday.
The two parties will work to meet local demand for electric vehicle (EV) production in Thailand and help Thailand become a battery production hub in Southeast Asia, according to the release.
Arun Plus, the EV subsidiary of Thai state energy group PTT, has well-established energy infrastructure in Thailand.
In November 2022, Arun Plus established an EV manufacturing subsidiary to capitalize on the growing demand for electric vehicles in Thailand and Southeast Asia.
The latest partnership will help enhance Arun Plus' EV production capacity and drive the building of a power battery ecosystem in Thailand and Southeast Asia, CATL said.
It is also an important step in CATL's efforts to improve its global footprint and will help the company explore diverse partnership models in markets including Southeast Asia to accelerate the global electrification and clean energy transition, the power battery giant said.
On May 13, 2022, CATL announced that it had signed a strategic partnership memorandum with Arun Plus, licensing the latter to use CTP technology.
Arun Plus and CATL will supply battery products to Horizon Plus, a joint venture between Arun Plus and Foxconn that plans to produce EVs in Thailand in 2024, and other EV brands, according to last year's press release.
CTP is a technology that integrates cells into battery packs without modules, increasing the system energy density of packs, simplifying manufacturing processes and saving costs, CATL previously said.
On October 27, 2021, CATL announced an agreement with Hyundai Mobis, the parts division of Hyundai Motor, to license its CTP technology.
CATL will support Hyundai Mobis in the supply of CTP-related battery products in South Korea and globally, it said at the time.
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EVOGO's battery swap service was previously available in Xiamen, Hefei and Guiyang.
(Image credit: CnEVPost)
EVOGO, the battery swap service brand of CATL, China's largest power battery manufacturer, has brought its service to a new city.
EVOGO's battery swap service is now available in Fuzhou, the capital of Fujian province, with the first three battery swap stations already in operation, CATL said on June 6.
By the end of this year, EVOGO's service radius in the Fuzhou urban area is expected to narrow to 8 kilometers, said Ningde, Fujian-based CATL.
EVOGO's operating entity, CATL's subsidiary Contemporary Amperex Energy Service Technology (CAES), signed a strategic cooperation framework agreement with the subsidiaries of Sinopec and State Grid in Fujian on June 6.
(Image credit: CATL)
CATL unveiled the EVOGO brand on January 22, 2022, which offers a battery swap solution consisting of battery blocks, fast battery swap stations, and an app.
The battery blocks, called Choco-SEB (swapping electric block) by CATL, are mass-produced batteries developed specifically to enable shared battery swaps, allowing consumers to pick and choose from one or more batteries to flexibly match their mileage needs.
(Image credit: CnEVPost)
EVOGO's battery swap service was officially launched on April 18, 2022, with Xiamen, Fujian being the first city to see the service available.
On June 18 last year, Hefei, Anhui province in eastern China saw the launch of EVOGO's battery swap service, becoming the second city to be covered by the service.
On December 12, CATL announced the expansion of EVOGO's battery swap service to a third city -- Guiyang in southwestern China's Guizhou province.
The first vehicle to support EVOGO's battery swap service is the NAT (Next Automatic Taxi) model of FAW's Bestune brand, which is aimed at the shared mobility market.
On April 27 last year, CATL announced that it had signed a framework agreement with EV startup Aiways to develop a battery swap-enabled model based on the Aiways U5, the second EVOGO battery swap-enabled model. Aiways is currently facing financial difficulties.
Last October 25, CATL said that the Dongfeng Peugeot-Citroën's Dongfeng Fukang ES600 sedan will have a variant capable of using EVOGO's battery swap service.
CATL officially unveils battery swap brand EVOGO, brings innovative battery block concept
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"The bottleneck remains to be these materials specific for sodium-ion batteries," the engineer told me. "And that takes time for the supply chain to mature."
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Second-tier battery makers may adopt a more aggressive pricing strategy to gain market share in the second half of the year, and CATL could face increasing risks to its market share and margins in the domestic market, Morgan Stanley said.
Morgan Stanley downgraded its rating on CATL, citing market share risks, sending shares of the Chinese power battery giant tumbling in morning trading.
"We downgrade CATL to UW as we think second-tier battery makers may adopt more aggressive pricing strategies to gain market share in 2H23," analyst Jack Lu's team said in a research note sent to investors earlier today.
As of press time, CATL shares traded in Shenzhen were down about 6 percent to near their lowest point of the year.
Earlier this year, Morgan Stanley upgraded CATL to equal weight, while being bearish on most battery material makers, as it believes CATL is better able to respond to slowing demand and leverage its cost advantages and bargaining power across the broader value chain.
Now, Lu's team believes that the dual-sourcing battery strategy of local EV companies may help the Tier 2 battery makers achieve their goals, while CATL may face increasing risks in terms of market share and margins in the domestic market.
In February, CATL launched a lithium rebate program to trade cheap lithium resources for market share. However, the subsequent plunge in lithium prices to below RMB 200,000 per ton has led to significant uncertainty about the program, the team said, adding that they have not received any further news about the program.
Meanwhile, battery makers have been offering fairly significant price cuts against the backdrop of falling lithium prices in the second quarter, the team noted.
"Our checks with tier-two battery makers indicate that the price cuts could be in the range of 10-20% during the quarter, with some battery makers likely offering more aggressive cuts than others," the team wrote.
Such actions could threaten CATL's market share in its domestic market, and market share potential is an important stock price driver, the team said.
CATL's power battery installed base in China was 10.26 GWh in April, ranking first with a 40.83 percent share, but down from 44.95 percent in March, China Automotive Battery Innovation Alliance (CABIA) data from last month showed. Data for May is Expected to be available in a few days.
NIO (NYSE: NIO) and Li Auto (NASDAQ: LI) are bringing in new battery suppliers instead of making CATL their sole supplier, Lu's team noted.
"With many new models being launched in the domestic EV market, we think CATL's domestic market share could come under pressure," the team said.
As background, since late last year, regulatory filings for NIO's new NT 2.0-based models have shown battery suppliers that include the smaller CALB in addition to CATL.
Last month, NIO filed to use semi-solid-state batteries from Beijing WeLion New Energy Technology in its models.
On February 8, Li Auto officially launched its first five-seat SUV, the Li L7, and announced the introduction of Sunwoda Electric Vehicle Battery and Svolt Energy as new battery suppliers.
More and more Tier 2 companies are adopting increasingly aggressive pricing strategies, and CATL may have to do the same, according to Lu's team.
Despite a short-term recovery in value chain orders, there will still be excess battery capacity in the short term and price competition is inevitable, the team said.
In addition to the market share pressure it faces domestically, Lu's team believes CATL's overseas path is increasingly uncertain.
"Some investors have argued that CATL's market share overseas is yet to see signs of decline; however, in our view CATL's overseas market is under increasing scrutiny and becoming more and uncertain, limiting visibility," the team wrote.
CATL has tried to penetrate overseas markets through exports and localization of production, but both pathways are increasingly at risk due to geopolitical tensions, particularly in the US, the team said.
Notably, Lu's team stressed that if the cost of battery materials and minerals continues to fall, this could give car companies more room to pursue new technologies and other battery performance metrics.
"If this is the case, CATL could regain any lost market share and continue to dominate the global battery market, leveraging its strong R&D capabilities and bargaining power over the supply chain. Our bull case scenario assumes 60% global market share in the long term," the team wrote.
Global EV battery market share in Jan-April: CATL 35.9%, BYD 16.1%
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In January-April, CALB's power battery installations of 8.4 GWh surpassed Samsung SDI's 7.5 GWh, according to SNE Research.
China's CATL and BYD (OTCMKTS: BYDDY) continued to be the world's two largest power battery manufacturers in January-April, the latest data show.
In January-April, global battery consumption for electric vehicles (EVs) totaled 182.5 GWh, up 49 percent from 122.5 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.
Among them, CATL installed 65.6 GWh of batteries from January to April, up 55.6 percent from 42.1 GWh in the same period last year.
The Chinese power battery giant continues to rank No. 1 in the world with a 35.9 percent share and remains the only one in the world with a market share of more than 30.0 percent.
This was higher than its 34.4 percent share in the same period last year and up from its 35.0 percent share in the January-March period.
CATL's batteries are installed in many major passenger EV models in China's domestic market, such as the Tesla Model 3, Model Y, SAIC Mulan, GAC Aion Y and NIO ET5, as well as Chinese commercial vehicle models, and continue to grow steadily, SNE Research said.
BYD installed 29.4 GWh of power batteries from January to April, up 108.3 percent from 14.1 GWh in the same period last year.
The company ranked second with a 16.1 percent share from January to April, up from 11.5 percent in the same period last year but down from 16.2 percent in January-March.
BYD has gained popularity in China's domestic market with its competitive pricing by establishing a vertically integrated supply chain management, including battery self-sufficiency and vehicle manufacturing, SNE Research said.
With the launch of the Atto3 model, BYD showed explosive growth by expanding its market share outside of China in Asia and Europe, SNE Research said.
LG Energy Solution installed 25.7 GWh of power batteries from January to April, up 49.3 percent year-on-year.
The South Korean company ranked third in the world with a 14.1 percent share, unchanged from a year ago.
Japan's Panasonic was fourth with 8.2 percent share, South Korea's SK On was fifth with 5.2 percent share and China's CALB was sixth with 4.6 percent share.
South Korea's Samsung SDI of, China's Gotion High-tech of China, Eve Energy and Sunwoda ranked seventh, eighth, ninth and tenth respectively, with shares of 4.1 percent, 2.4 percent, 1.8 percent and 1.5 percent from January to April, respectively.
It is worth noting that CALB's power battery installed base of 8.4 GWh exceeded Samsung SDI's 7.5 GWh in the January to April period.
In January-March, CALB was 5.7 GWh, lower than Samsung SDI's 6.5 GWh.
In 2023, Chinese companies are expected to enter overseas markets such as the US and Europe in preparation for a gradual decline in growth rates in China's domestic market, the largest EV market, according to SNE Research.
The European EV market, which has relatively fewer political issues than the US, is attracting attention as a strategic point for seeking to diversify the battery supply chain, the report noted.
Going forward, the share of LFP batteries in Europe is expected to increase as Chinese companies enter the European market in earnest, the report said.
CATL unveils Condensed Battery for electric aircrafts and EVs
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On May 26, a Chinese netizen shared that he drove his Zeekr 001 passing through a high altitude area until the battery was completed exhausted without any additional charging, which lasted 11 hours.
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The Deepal S7 from Changan, Huawei and CATL has hit the production line in China. To launch tomorrow.
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