Pengpai News reporter Qin Yixiao
On October 29, the new cooperation between the world's electric vehicle leader Tesla (Tesla ) and the power battery leader CATL New Energy Technology Co., Ltd. ( CATL , 300750) has made CATL's market value exceed 1.5 trillion mark, which is only 60 billion away from the second-ranked Industrial and Commercial Bank of China .
According to people familiar with the matter, Tesla has booked 45GWh (1 GWh, 1Gwh = 1 million Kwh) from CATL for next year's sales plan, which is mainly used in Model 3 and Model Y models.
Affected by this news, CATL's stock price hit a new record high on October 29, rising more than 6% during the session, with a total market value exceeding 1.5 trillion yuan, only more than 60 billion yuan from the second-ranked Industrial and Commercial Bank of China, setting a record high for the third time this week. The closing price was 639.22 yuan per share, with rising by 5.27%, with a total market value of about 1.49 trillion yuan, surpassing China Construction Bank for the first time, making it the third largest company in the market value of A shares .
Data source: Securities Star
At the 2021 third quarter earnings call held on October 21, Tesla announced that the global standard battery life model, the Model 3 and Model Y models will gradually switch to lithium iron phosphate batteries, and the long-range version model will continue to use ternary lithium batteries. Compared with ternary lithium batteries, lithium iron phosphate batteries have lower costs and are more secure and stable, but their energy density and conductive properties are slightly inferior.
According to its official website, the battery capacity of the Model 3 and Model Y models equipped with lithium iron phosphate batteries is 55KWh and 60KWh (kilowatt-hour) respectively. Based on this calculation, this 45GWh battery order will correspond to nearly 800,000 cars. As of the third quarter of this year, Tesla sold a total of 627,350 cars worldwide, and the order volume this time has exceeded Tesla's total sales in the first three quarters of this year.
is Model3 on the left and Model Y
on the right. There is also news that in addition to booking a 45GWh battery from CATL, Tesla also plans to add orders, "the two parties are already in negotiations." In addition, Tesla's battery factory in , Nevada, will also expand production by more than 40GWh in 2022. Coupled with the supply of two battery manufacturers, Panasonic and LG Chem , Tesla's total global sales in 2022 are expected to be more than 1.5 million cars, about twice this year.
At present, CATL is the only one that supplies lithium iron phosphate batteries to Tesla in the Chinese market. Regarding the above news, CATL said in an interview with Pengpai News (www.thepaper.cn).
In February 2020, CATL and Tesla began to cooperate. CATL officially became Tesla's power battery supplier, providing lithium-ion power batteries to Tesla's Shanghai factory starting from July 1, 2020. In June this year, Tesla once again signed an agreement with CATL. The agreement stipulates that CATL will supply lithium-ion power battery products to Tesla from January 2022 to December 2025.
At present, Tesla has become CATL's largest customer. According to statistics, the lithium iron phosphate batteries purchased by Tesla from CATL have accounted for 19% of CATL's total shipments.
According to CATL's 2020 annual report, the company's total power battery system production capacity in 2020 is 69.10GWh. This means that this order is about 65% of the total power battery system production capacity of CATL last year.
Since the beginning of this year, CATL has continuously increased its capital and expanded its production, with an investment of more than 73.5 billion yuan. Its 2021 semi-annual report shows that the company's production capacity in the first half of this year was 65.45GWh and the capacity under construction was 92.5GWh. According to research reports from many securities companies, it is estimated that by 2025, CATL's production capacity planning target will be close to 600 GWh.
Battery production capacity disclosed in CATL's 2021 semi-annual report
CATL is a world's leading power battery research and development and manufacturing company. It is headquartered in Ningde City, Fujian Province, China. Its main business is the research and development, production and sales of power battery systems and energy storage systems of new energy vehicles. Its main customers include electric car companies such as Tesla, NIO , Xiaopeng .
According to statistics from new energy analysis agency SNE Research, CATL currently accounts for 32.5% of the global electric vehicle battery market, and is the world's largest electric vehicle battery supplier. It has ranked first in the world's power battery installation volume for four consecutive years.In addition, according to statistics from the China Automobile Power Battery Industry Innovation Alliance, in the first half of this year, CATL's installed power battery capacity in China was 25.76 GWh, with a market share of 49.1%.
Data source: SNE Research
On the evening of October 27, CATL released its third quarter report for 2021. According to the financial report, CATL's revenue in the first three quarters of this year was 73.361 billion yuan, a year-on-year increase of 132.73%; net profit was 7.751 billion yuan, a year-on-year increase of 130.9%. Among them, the revenue in the third quarter was 29.287 billion yuan, a year-on-year increase of 130.73%; the net profit was 3.267 billion yuan, a year-on-year increase of 130.16%.
public information shows that since December last year, CATL has announced six battery expansion projects and laid out eight battery production bases, located in Ningde, Fujian, Liyang, Jiangsu, Xining, Qinghai, Yibin, Sichuan, Zhaoqing, Guangdong, Germany, Erfurt , Shanghai and Yichun, Jiangxi. In August this year, of CATL's 58.2 billion yuan fundraising projects, 41.9 billion yuan was used for five battery production projects including the Fuding Times lithium-ion battery production base project, and the lithium-ion battery html's annual production capacity was about 137GWh.
Editor in charge: Li Yuequn
In addition, according to statistics from the China Automobile Power Battery Industry Innovation Alliance, in the first half of this year, CATL's installed power battery capacity in China was 25.76 GWh, with a market share of 49.1%.Data source: SNE Research
On the evening of October 27, CATL released its third quarter report for 2021. According to the financial report, CATL's revenue in the first three quarters of this year was 73.361 billion yuan, a year-on-year increase of 132.73%; net profit was 7.751 billion yuan, a year-on-year increase of 130.9%. Among them, the revenue in the third quarter was 29.287 billion yuan, a year-on-year increase of 130.73%; the net profit was 3.267 billion yuan, a year-on-year increase of 130.16%.
public information shows that since December last year, CATL has announced six battery expansion projects and laid out eight battery production bases, located in Ningde, Fujian, Liyang, Jiangsu, Xining, Qinghai, Yibin, Sichuan, Zhaoqing, Guangdong, Germany, Erfurt , Shanghai and Yichun, Jiangxi. In August this year, of CATL's 58.2 billion yuan fundraising projects, 41.9 billion yuan was used for five battery production projects including the Fuding Times lithium-ion battery production base project, and the lithium-ion battery html's annual production capacity was about 137GWh.
Editor in charge: Li Yuequn
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