With the advent of the general trend of electrification, the first-class relationship between OEMs and power battery manufacturers is developing in the direction of deeper cooperation. The establishment of joint ventures and equity binding has become a widely recognized path. Recently, Changan Automobile announced a high-profile announcement, saying that the company and its affiliates signed a "memorandum of cooperation" with Ganfeng Lithium, the "lithium king", aiming to accelerate the (semi-)solid-state battery research and development joint venture project and manufacturing industrialization project. The cooperation plan also involves R&D cooperation in the next generation of automotive power batteries, as well as extended cooperation in upstream lithium ore resources, lithium salt deep processing, battery materials, midstream battery manufacturing and downstream waste battery comprehensive utilization. This initiative aims to promote the strategic cooperation of the whole chain of the battery industry and inject new vitality into the development of the entire battery industry chain. Just a month ago, Changan Power, a joint venture between Changan Automobile and "Ningwang" CATL and Shenlan Automobile, ushered in the first battery cell product off the assembly line. In the field of power batteries, there are various signs of rapid cooperation that Changan Automobile is moving towards the direction of leading solid-state battery research and development, and plans to start mass production and application in 2025 and achieve full popularization and application by 2030.
Industry analysts pointed out that at present, the solid-state battery industry chain has taken shape, and the industrialization process has been steadily promoted. However, to start the next solid-state battery, an important or substantial technological breakthrough needs to occur at the industry level. For battery companies, project investment involving dozens or even hundreds of GWh will face huge pressure and risk in terms of funds, orders, and technology iteration. Therefore, cooperating with car companies can not only bind orders, but also obtain capital investment and drive from car companies, thereby reducing risks. For car companies, joint ventures with upstream ** chains for their new energy vehicle batteries** will be reliably guaranteed, and can further reduce costs and improve efficiency. Therefore, it has become an inevitable trend to accelerate the "onboarding" of solid-state batteries. On December 26, Changan Automobile and Ganfeng Lithium simultaneously announced the news of cooperation between the two sides. The R&D and application of (semi-)solid-state battery products will become a key area of cooperation between the two parties. Recently, major car manufacturers have updated the timetable for solid-state batteries, and the speed of new technologies to industrialization is expected to accelerate. The so-called (semi-)solid-state battery refers to the transformation of the electrolyte in the battery from the traditional liquid state to the solid-liquid mixture and even the solid state.
Zhou Xuhui, an analyst at Oriental Fortune, recently released a research report pointing out that at present, the electrolyte of liquid batteries is no longer compatible with anode materials with higher energy density, such as lithium metal and cathode materials with higher voltage. Solid-state electrolytes, on the other hand, can meet a number of conditions, including high ionic conductivity, a wide electrochemical window, high lithium-ion selectivity (i.e., high lithium-ion mobility), and excellent mechanical properties. A brokerage research report pointed out that due to the cost and actual application performance, all-solid-state batteries are still in their infancy. Solid-state batteries are one of the key technologies for the development of electric vehicles in the future, and since 2023, the installation of semi-solid-state batteries has led the future development trend. According to **, domestic shipments of semi-solid-state + all-solid-state batteries will increase significantly in 2030, with a compound annual growth rate of up to 75%. Changan Automobile plans to mass-produce solid-state batteries in 2025 and is expected to achieve full application by 2030. Ganfeng Lithium has a leading edge in the field of (semi-)solid-state battery technology, and the newly established Diyi Vision New Energy Power Technology (Wuxi)** also shows the market's emphasis on solid-state battery technology.
FAW Jiefang subsidiary and Envision Power Technology Co., Ltd. jointly invested and signed a smart battery manufacturing base project, with an estimated investment of more than 10 billion yuan and a planned annual production capacity of 20GWh. This series of developments shows the vigorous development of the solid-state battery industry and the huge market potential in the future. In recent years, automobile companies around the world are actively deploying the field of power batteries, through independent research and development, joint ventures and other ways to avoid excessive dependence on battery manufacturers. Recently, Li Bin, the head of NIO, drove the ET7 model loaded with a 150kWh battery for a range test of more than 1,000 kilometers. The battery is based on semi-solid-state technology and is expected to reach mass production in 2024. At the same time, SAIC Motor is also making full efforts to develop solid-state batteries, and the first mass-produced product equipped with solid-state batteries is expected to be launched in 2025. In addition, Changan Automobile has also frequently made efforts in the field of power batteries, and recently announced a series of trends, including the establishment of Times Changan Power Battery, which plans to launch 8 self-developed battery cells by 2030 and form a battery production capacity of no less than 150GWh. It can be seen that the competition in the field of power batteries is becoming more and more fierce, and major car companies are accelerating their layout.