The latest data released by the Research Institute of Advanced Industrial Estates (GGII) recently showed that in May 2018, China's new energy (6.120, -0.10, -1.61%) automobile production was approximately 86,000, an increase of 82% year-on-year; January-May total production 315,000 vehicles, a year-on-year increase of 90%. In May of this year, the total installed capacity of power battery in China was about 4.50 GWh, an increase of 213% compared to the same period of last year. From January to May this year, the total installed capacity of power batteries was about 12.67 GWh, an increase of 224% year-on-year. With the rapid development of China's new energy automotive industry, the demand for power batteries has also increased substantially as the core components and parts involved. However, overcapacity is also present in the power battery market, and prices have been declining. Experts said that with the intensification of competition, power battery companies have begun to enter a period of rapid reshuffle. Deep cooperation with car companies Since this year, many power battery companies have frequently reached cooperation with vehicle companies in order to lock in more market share. On May 2, Nissan announced that it will launch 20 electric vehicles to China in the future. Dongfeng Nissan's first pure electric vehicle will use batteries from Ningde (43.800, 3.98, 9.99%). The relevant person in charge of the Daimler Group also stated that the Ningde era will provide Daimler with electric vehicle batteries. Previously, the Ningde era has also become a partner of the Volkswagen Group, and signed a strategic cooperation letter of intent with Jaguar Land Rover. At present, the Ningde era has provided batteries for BAIC New Energy, BMW, Geely, Chang'an and Dongfeng, as well as a joint venture with SAIC Motor. BYD (49.060, -0.97, -1.94%) plans to work with more car companies through open and shared battery technology platforms to capture market share. Shen Di, deputy general manager of BYD Lithium Battery Division, said in an interview with the media that it is currently doing a divestiture of the power battery business. It is expected to be split by the end of this year or early next year, and consider a separate listing in 2022 or 2023. BYD has already docked with major car OEMs such as the Great Wall, Beijing Automotive and Guangzhou Automobile. It is expected that some batteries will be sold externally as soon as this year. Previously, BYD's power battery was for internal use only. Korean power battery companies also launched a new round of layout in China. South Korean battery company SKI is considering restarting its battery company BESK, which was jointly established with Beijing Electronic Holdings Co., Ltd. and Beijing Automotive Group, with a total investment of 350 million yuan. Earlier this year, BESK announced the suspension of production due to reduced orders. Power battery companies are also expanding in technology and capacity. According to public information, BYD expects to have a capacity of 26GWh by 2018. In the Ningde Times, the lithium battery output in 2020 will increase to 50GWh. Tianjin Lishen will have an annual capacity of 20GWh in 2020. The billion latitude lithium energy (18.040, -0.07, -0.39%) by the end of 2017 to build a square lithium iron phosphate battery, cylindrical ternary battery and soft pack ternary battery production line, in 2018 will increase the square ternary battery capacity. In 2017, Guoxuan Hi-Tech (14.660, -1.54, -9.51%) made progress in the industrialization of the new generation of ternary 622 square aluminum-shell battery and the development of the ternary 811 battery and soft-battery battery product. Power battery has excess capacity However, with the rapid expansion of production capacity, the domestic power battery industry also experienced excess capacity, and product prices showed a downward trend. According to the GGII data from the Institute of Advanced Industrial Production and Lithium Research, the price of power battery cells at the end of 2017 fell by 20% to 25% from the beginning of 2017. However, the overall price of power battery raw materials did not show a downward trend. This means that power battery companies will be subject to greater cost and profit pressure. Zhao Baoxing, deputy general manager of Lishen Power Battery System Co., Ltd., once said categorically that as the cost of raw materials continues to rise, and the price of the battery is continuously reduced due to the influence of the national policy, the cost pressure of the battery companies is huge. At the same time, due to the decline of subsidies for new energy vehicles, auto companies have also shifted the pressure of operating costs to power battery companies. According to the incomplete statistics of the Beijing News reporter, in 2017, among the 18 power battery companies, Lunshi Technology (6.700, -0.74, -9.95%), Xiongfu (11.410, -0.40, -3.39%), and polyfluorinated More (15.180, -0.45, -2.88%), Star Source Material (37.040, -0.04, -0.11%), Anderson, Tianci Materials (40.120, -1.08, -2.62%), BYD, Guoxuan Hi-Tech, and Bikang The performance of nine companies (31.680, -0.66, -2.04%) has slowed down, and net profit has dropped significantly. A number of companies mentioned in the announcement that the decline in profits was affected by the adjustment of subsidies for new energy vehicles. The increasingly fierce competition has also exacerbated the industry's reshuffle and further improved the industry's concentration. Data show that in 2017 China's new energy vehicle (EV + PHEV) power battery installed capacity of about 36.24GWh. Among them, the total number of power battery companies ranked in the top 10 total installed power was approximately 26.22 Wh, accounting for 72.3% of the total. According to China Chemical (7.250, 0.04, 0.55%) and Liu Yanlong, secretary general of the Physical Power Industry Association, from 2015 to 2017, the number of power battery related companies has dropped from 150 to about 100. This means that one-third of the power battery companies have been eliminated. Mining Crusher
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