Will domestic Tesla switch to Contemporary Amperex Technology Co., Ltd., LG Chemical Battery and Panasonic Battery or be abandoned? Jingguan automobile

The cooperation between Tesla and Contemporary Ampere Technology Co., Ltd. has finally moved from rumor to official announcement. 65438+1On October 30th, Tesla released the fourth quarter financial report of 20 19, and made it clear in the subsequent conference call that Contemporary Ampere Technology Co., Ltd. would become its partner. The details will be further revealed in the "Battery Day" held by Tesla in April.

Although Contemporary Ampere Technology Co., Ltd. has not been officially announced, there have been rumors about its cooperation with Tesla. 2065438+In March 2009, foreign media reported that Tesla made contact with Contemporary Ampere Technology Co., Ltd., and then Contemporary Ampere Technology Co., Ltd. issued an announcement to clarify that it had not reached a cooperation intention with Tesla and had not signed any commercial agreement. 20 19, 1 1, foreign media reported that Tesla has reached a preliminary agreement with Contemporary Ampere Technology Co., Ltd., which will become Tesla's battery supplier in China in 2020. Like other companies, Tesla may only use the batteries of Contemporary Ampere Technology Co., Ltd. in the China market.

In addition to Contemporary Ampere Technology Co., Ltd., Tesla also announced that LG Chem will become its battery supplier. As early as 2065438+August 2009, foreign media reported that Tesla had reached a cooperation with LG Chem, and would purchase batteries from the latter for electric vehicles put into production in China. The Catalogue of Recommended Vehicles for the Promotion and Application of New Energy Vehicles (20 19 batch 1 1) published in February, 20 19 shows that the domestic Tesla Model3 will use batteries from both Panasonic and LG Chem. After the white list of batteries in China was lifted, LG Chem built a new factory in Nanjing in 20 18, and the first phase of its project was mass-produced in the fourth quarter of 20 19.

Before joining hands with LG Chem and Contemporary Ampere Technology Co., Ltd., Tesla's battery supplier has always been Panasonic, but there are contradictions between them. 2019165438+10. In October, Kazuhiro, CEO of Panasonic, said that Panasonic underestimated the risk of cooperation with Tesla, and it is difficult to profit from the existing battery cooperation business with Tesla at present. As for Tesla's production in China, Panasonic said it has no plans to build a new battery factory for Tesla in China. After the vehicle caught fire frequently, Tesla also pushed the responsibility to Panasonic.

In June+February of last year, 5438, Tetsuo Benji, president of Panasonic China Northeast Asia Company, said that the company did not provide batteries for the first batch of products of Tesla Shanghai factory, but did not rule out the possibility of supplying batteries for Tesla Shanghai factory in the future. At present, Panasonic has three battery factories in China, among which Dalian factory specializes in producing electric vehicle batteries. It is understood that the factory mainly faces the North American and China markets and mainly produces square hard-shell batteries, while Tesla uses cylindrical batteries.

Tesla's production capacity has expanded since it was put into production in China, and it is accelerating cooperation with local suppliers. At present, the first phase of Tesla Shanghai Lingang Factory has been put into production, and the domestic car was delivered on June 7, 65438, and the second phase of ModelY domestic car was officially launched on the same day. It is understood that the domestic ModelY will be put into production at 202 1 at the earliest, and the annual production capacity of domestic Model 3 and Model Y will reach 250,000 vehicles at 202 1. However, the industry predicts that the domestic Y-type is likely to be put into production ahead of schedule, and CITIC Jiantou predicts that Contemporary Anpu Technology Co., Ltd. will supply the domestic Y-type in 2020.

However, unlike the square batteries used by most new energy automobile companies in the market, all Tesla models now use cylindrical batteries, while the main CTP battery pack of Contemporary Ampere Technology Co., Ltd. uses ternary cathode materials and square batteries. Will Tesla cooperate with Contemporary Ampere Technology Co., Ltd. to adapt to the latter's switched battery technology route? According to the research report of CITIC Jiantou, the cylindrical battery pack has become the short board of Tesla products to a certain extent, and the weak body energy density "soft rib" makes it not the long-term mainstream choice of new energy vehicles. However, switching the technical route requires Tesla to make corresponding adjustments in the vehicle structure.

As a new official partner of Tesla, Contemporary Ampere Technology Co., Ltd. is the largest power battery enterprise in China. In 20 19, the installed capacity of Contemporary Ampere Technology Co., Ltd. reached 3 1.7 1GWh, ranking first, accounting for 5 1.0 1%. The installed capacity and proportion have increased compared with 20 18. At present, Contemporary Ampere Technology Co., Ltd. has reached cooperation with more than 20 domestic and foreign vehicle manufacturers and is expanding overseas markets.

Contemporary Ampere Technology Co., Ltd. predicts that the net profit attributable to shareholders of listed companies in 20 19 will be 40.64-49. 1 1 billion yuan, up 20%-45% year-on-year. Although the net profit has increased, the gross profit margin of contemporary Ampere Technology Co., Ltd. has been declining year by year in recent years. From 20 16 to 20 18, its gross profit margin was 43.7%, 36.29% and 32.79% respectively. According to the performance of 20 19 in the first three quarters, its gross profit margin still shows a downward trend. Compared with Panasonic and LG Chem, the product cost of Contemporary Ampere Technology Co., Ltd. still has room for exploration.

The industry believes that the cooperation with Tesla will contribute to the development of contemporary Ampere Technology Co., Ltd.. Judging from the green light approved by Tesla in China, there are corresponding requirements for its domestic production rate, and the China government hopes to boost the whole new energy vehicle industry chain.

In 20 19, Tesla sold a total of 367,500 vehicles, a year-on-year increase of 50%. The increase in sales boosted Tesla's financial performance. After the net profit in the third quarter of 2065.438+09 was 65.438+043 billion yuan, its net profit in the fourth quarter of 2065.438+05. Tesla predicts that global sales will exceed 500,000 vehicles in 2020, among which the performance of China market is crucial.

On June 3 this year, at 65438, Tesla lowered the price of domestic Model 3, and the subsidy price was 299,000 yuan. With the opening of cooperation with Contemporary Ampere Technology Co., Ltd. and the acceleration of localization of other parts, Tesla's products are still considered to have room for price reduction.