The reason why Geely Automobile accelerates its power battery business
layout is that its new energy vehicle strategic development plan requires its
own mastery of core battery technology as support, aiming to take a dominant
position in battery R&D, production and supply. A few days ago, the Geely
Technology Group New Energy Battery Research Institute project signing ceremony
was held in Xiuzhou District, Jiaxing, Zhejiang. The project has a total
investment of approximately 3 billion yuan and plans to build a battery cell
R&D center, power system R&D center, analysis and testing center, energy
storage and cascade utilization center, technology project management center and
cutting-edge technology development center. It is expected to be officially
operational within the year. As the core component of electric vehicles, battery
technology is a key factor in determining the product strength of a model. As
subsidies for new energy vehicles gradually decline, car companies that can
master the basics of batteries will undoubtedly have more effective cost control
and competitive advantages. . Geely Automobile's establishment of a battery cell
R&D center is obviously to master the core technology of power batteries.
Unlike other OEMs that focus on self-built or jointly built PACK companies with
battery manufacturers, Geely has a deeper and more ambitious layout in the field
of power batteries. It is understood that Geely already has 300 core technology
patents in new energy technology systems and solutions. In 2020, Geely
Automobile will launch more than 30 new energy and electrified models on the
market. Currently, all major OEMs are making plans in the field of power
batteries. In addition to BYD's own battery factory supplying batteries,
international models including BMW, Ford, Volkswagen, Daimler and others are
increasing their deployment of power batteries, mainly focusing on the research
and development of advanced battery technology. For example, BMW designs and
assembles battery packs on its own. It first cooperated with CATL and put
forward strict and complicated technical requirements for it, and finally
developed BMW Brilliance's power battery. In addition to setting up a battery
pack production factory and R&D center in Shenyang, BMW will also spend
US$237 million to establish a battery R&D center in Munich, hoping to master
and further improve battery technology in the future. Daimler is teaming up with
Krupp, Germany's IAV and Fraunhofer Institute for Ceramic Technology and Systems
to carry out a bipolar battery research and development project based on
lithium-ion technology, which is expected to increase the vehicle's endurance to
1,000km. In addition, BMW, Ford and Volkswagen are also actively involved in the
research and development of solid-state batteries, investing in solid-state
battery companies such as SolidPower and QuantumScape and establishing joint
ventures to jointly develop more advanced power battery technology. It can be
seen that regardless of whether they produce batteries themselves, participating
in the research and development of power battery technology has become an
indispensable means of competition for OEMs. Once they have mastered advanced
battery technology, OEMs can guide and require suppliers to produce cells
according to their precise product requirements and specifications, thereby
gaining core competitive advantages. This is also the key reason why Geely Group
is so eager to master the knowledge and skills in battery cell R&D and
production when it does not need to mass-produce battery cells on its own for
the time being. It also verifies Geely's ambitions. In fact, Geely has already
laid out and accumulated experience in power battery cells, modules and PACKs.
Currently, Geely Group's mid-to-high-end passenger car power battery cells
mainly come from CATL and its subsidiary Hengyuan New Energy. Its subsidiary
Vair Electric Vehicle Technology (Suzhou) Co., Ltd. is responsible for the
powertrain. CATL is its largest Power battery supplier. Prior to this, Geely
Group's expansion in the field of power batteries has been continuously
advancing, and it has gradually established Geely's power battery supply system
through acquisitions, self-construction and joint construction. ?In terms of
battery cell production: In 2014, Geely indirectly acquired shares in two power
battery factories by acquiring the equity of Hongqiao Group, and has since
launched battery production business. In April 2017, Geely fully acquired the
right to use all production equipment and manufacturing technology intellectual
property rights of LG's Nanjing factory. LG will also help Geely Group's
high-end brands (including Volvo) continue to upgrade battery technology. ?In
terms of modules and PACK: On April 14, 2016, Zhejiang Geely Holding Group’s
Jinhua power battery assembly project started. The base plans to invest 2.05
billion yuan and has a designed annual production capacity of new energy power
batteries of 1.5 million kilowatt hours. On March 12, 2018, a 500,000 battery
pack project was planned and constructed in Hangzhou Bay, which is scheduled to
be completed in December 2018. In December 2018, Geely Automobile announced that
its subsidiary Zhejiang Jirun and CATL would establish a joint venture, in which
CATL would invest 510 million yuan, accounting for 51% of the shares; Zhejiang
Jirun would invest 490 million yuan, accounting for 49% of the shares. The joint
venture company is engaged in the research and development, manufacturing and
sales of battery cells, battery modules and battery packs, and provides a stable
supply of core power batteries for Geely's new energy models. ?In terms of
battery cell research and development: On September 17, 2018, Geely invested 50
million yuan through its subsidiaries to establish Hubei Geely Hengyuan New
Energy Technology Co., Ltd. in Wuhan. The project has a total investment of 8
billion yuan to build battery and module production lines, a research and
development center, a comprehensive office building, and a logistics matching
center. The project will be constructed in two phases. It is planned to complete
the site selection and preliminary work in 2018, and to be completed and put
into operation in 2020. Coupled with the new energy battery research institute
project settled in Jiaxing, Geely Group has participated in the entire battery
production process from research and development to battery cells to modules to
battery packs, thereby mastering the core technology of battery production and
realizing " "Blue Geely Action" new energy strategy provides guarantee. Under
the pressure of a sharp reduction in subsidies and intensifying market
competition, in order to better reduce costs and ensure a stable supply of
batteries, Geely Group is strengthening the research and development of battery
technology and is also looking for new battery suppliers, including foreign
battery companies. As well as self-produced batteries, thereby reducing the risk
of being highly dependent on CATL. In the field of commercial vehicles,
including Phylion Power, Hefei Guoxuan, Yiwei Lithium Energy, Qianjiang Lithium,
etc. are also its suppliers, and it is expected that the supply of batteries
will continue to increase in the future. In 2018, Geely Automobile formed four
major technology paths, covering pure electric technology, hybrid technology,
alternative fuels and hydrogen fuel cell technology. A total of 68,500 new
energy vehicles were sold throughout the year. In 2018, Geely Automobile
released a number of new energy vehicles including Borui GEMHEV, Borui GEPHEV,
01PHEV, Emgrand EV350, Emgrand EV450, and GSe series, becoming a strong
competitor in the new energy vehicle market. In 2019, Geely will also launch
MHEV and PHEV versions of Binyue, Binrui and Emgrand GL, as well as more new
energy and electrified vehicle products such as the high-end brand Lynk & Co
02/03 PHEV, further increasing the sales proportion of new energy vehicles. The
establishment of a battery cell R&D center and battery factory can meet the
Geely Group's future new energy vehicle needs for the sustainable development of
power batteries in terms of technology upgrades, production capacity supply, and
cost reduction.
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