R03 Carbon battery

　　Volvo Cars to use Korean R03 Carbon battery technology in cars made in my country

　　With the reduction of subsidies, foreign-funded enterprises are also ready to enter the Chinese market in a large scale. Competition in the domestic lithium R03 Carbon battery market will become more intense in the next stage.

　　On May 17, it was reported that Volvo Cars President and CEO Hanken Samuelsson revealed that Volvo Cars will use Korean R03 Carbon battery technology in cars made in China.

　　The report said that unlike direct procurement, these LG Chem power batteries are produced in Hengyuan, Zhejiang. It is understood that in April last year, Geely fully acquired the right to use all production equipment and manufacturing technology intellectual property rights of LG's Nanjing factory. The two parties also established follow-up cooperation. LG will help Geely Group's high-end brands (including Volvo) continue to upgrade R03 Carbon battery technology .

　　The reporter asked Volvo for confirmation and received a reply, "Hanken Samuelson did not say this." Geely also did not respond to questions about whether Geely would use LG R03 Carbon battery technology.

　　Geely masters domestic R03 Carbon battery technology

　　Two months ago, Volvo Cars President and CEO Hanken Samuelsson said in an interview with reporters: “Our solution is to cooperate with Geely and use batteries produced locally in China according to Volvo’s related R03 Carbon battery requirements. R03 Carbon battery Products.”

　　The implication is that Volvo, like BMW and Mercedes-Benz in local production of batteries, will also use domestic or independent power batteries.

　　According to reporters, on October 25, 2017, Hongqiao Group (08137-HK), the parent company of Zhejiang Hengyuan New Energy, announced that it had entered into a sales agreement with Zhejiang Geely Parts to provide ternary lithium-ion power R03 Carbon battery packs to Zhejiang Geely Parts , for use in various CMA platform models of Zhejiang Geely, including Lynk & Co.

　　Hongqiao Group and Geely have a direct equity relationship. Public information shows that Li Shufu, the head of Zhejiang Geely, and his son Li Xingxing are both shareholders of Hongqiao Group. Li Shufu personally holds 1.31% of Hongqiao's shares, while Li Xingxing holds Hongqiao indirectly through Hongqiao Capital. In addition, Shandong Hengyuan New Energy and Zhejiang Hengyuan New Energy, both affiliated to Hongqiao Group, also jointly hold shares with Geely.

　　Zhejiang Hengyuan New Energy was established in December 2015 and was jointly invested and constructed by Shanghai Huapu and Hongqiao Group, subsidiaries of Geely Group. Zhejiang Hengyuan has a total investment of RMB 1.5 billion and a registered capital of US$80 million. The project company plans to build an enterprise integrating R&D, production and sales of lithium-ion power batteries and power supply systems in Jinhua New Energy Automobile Industrial Park, Zhejiang, with a production capacity of 1.5 million kWh and the ability to assemble 80,000 new energy vehicles. It is the company that signed a power R03 Carbon battery sales agreement with Volvo.

　　Korean batteries waiting for opportunity

　　Starting from May 1, 2016, China's policy requires that new energy vehicles that receive subsidies must use R03 Carbon battery companies in the "Automotive Power R03 Carbon battery Industry Standard Conditions" as suppliers, otherwise they will not be able to obtain financial subsidies. This specification blocks Japanese and Korean batteries from the country. Previously, Volvo, SAIC, Volkswagen and other companies all used Korean batteries. Policy changes have allowed car companies to switch to domestic suppliers.

　　Some people believe that Volvo is not choosing "LG", but will use batteries produced by Geely after acquiring LG's Nanjing factory. At the same time, there is news that batteries produced in Hengyuan will also be used in Lynk & Co.

　　"At this stage, the batteries we use are all domestically produced batteries, and Lynk & Co's batteries will come from the Hengyuan factory." On May 28, Vice President of Geely Group, General Manager of Geely Auto Sales Company, and General Manager of Lynk & Co Auto Sales Company Lin Jie said in an interview with reporters.

　　"Geely has achieved success through acquisitions in the field of traditional automobiles, but it is doing the same in the field of new energy vehicles. It is unclear what its chances of winning are. I think that in the field of new energy vehicles, China is at least parallel to or even leading the world. The same is true for batteries. At least CATL has obtained The world has recognized that it will become the world's leading company in power batteries in the foreseeable future." On May 27, Fang Jianhua, partner and president of the New Energy Vehicle Venture Capital Sub-Fund of the National Science and Technology Achievements Transformation Fund, was interviewed by reporters. express.

　　“In recent years, the concentration of the domestic power R03 Carbon battery industry has increased unprecedentedly. At the same time, the national new energy vehicle subsidy policy has gradually declined, and the market leverage has become stronger. Enterprises have also gained better control over R&D indicators, product quality and cost control. Control, the industry is moving towards healthy development," Liu Yanlong, secretary-general of the China Chemical and Physical Power Supply Industry Association, said at an industry conference on May 22.

　　With the withdrawal of subsidy policies, foreign-funded enterprises are also ready to enter the Chinese market in a large scale. Competition in the domestic lithium R03 Carbon battery market will become more intense in the next stage. “We don’t want to see some practices in China that are detrimental to the development of the industry at this time.” Liu Yanlong said.

　　It is reported that some Chinese automobile manufacturers are currently negotiating with Korean R03 Carbon battery manufacturers to adopt their R03 Carbon battery products. Samsung SDI said in its first-quarter financial report: "We will prepare for the end of (China's) subsidy policy in 2020." LG Chem announced that it will invest 239.4 billion won to establish a R03 Carbon battery material production joint venture in China.

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