BorgWarner (New York Stock Exchange: BWA) recently announced that it has signed a strategic cooperation agreement with BYD (002594) Company's Fodi Battery.
Under the agreement, BorgWarner will be the only non-automaker to have no affiliation with Foday BatteriesIn Europe, the Americas and parts of Asia Pacific, the company has the right to use Foday blade cells for the local production of LFP battery packs for commercial vehicles, and the agreement is valid for 8 years.
In addition to obtaining cutting-edge blade cells for the production of lithium iron phosphate (LFP) battery packs in the geographical areas covered,BorgWarner will also be licensed to Foday Battery to use its intellectual property related to the battery pack design and manufacturing process.
Frédéric Lissalde, President and CEO of BorgWarner, said: "Lithium iron phosphate battery chemistry is an exciting technology that is becoming increasingly important globally due to its cost competitiveness. We are seeing an increasing demand from our customers for battery packs for LFP cells. We believe that Foday Battery has more than 20 years of experience and success in the field of LFP batteries in China and Europe, and for BorgWarner, Foday Battery is the right choice for its cooperation in this field. We are excited to collaborate on the development of cutting-edge cell and pack technologies to further drive electrification in this market segment." ”
According to BYD's 2023 performance forecast, the company expects to achieve a net profit of 29 billion yuan and 31 billion yuan in 2023, an increase of 74% over the same period last year46%～86.49%；It is estimated that the non-net profit will be 27.4 billion yuan and 29.7 billion yuan, an increase of 75% over the same period last year22%～89.92%；Basic earnings per share was 998 yuan share 1067 yuan shares, compared with 5 in the same period last year$71 shares.
It is reported that in terms of batteries, the total installed capacity of BYD's new energy vehicle power batteries and energy storage batteries in 2023 will be about 150909gwh。
Recently, Clean Technica, an authority on new energy technology in the United States, released a report on the world's top 10 battery manufacturers in 2023. According to the report, BYD will surpass LG New Energy to take the second place in 2023. With the rise of the BYD car brand, the global market share of BYD batteries (Fodi batteries) jumped from 14% in 2022 to 16% in the same period in 2023.
According to the latest data released by South Korean research institute SNE Research, in 2023, the number of registered electric vehicles (EVs, PHEVs, HEVs) battery loading in the world will be about 7055GWh, a year-on-year increase of 386%。From the perspective of the top 10 companies in the global power battery loading volume, BYD has 111The 4GWh loading volume continued to rank second, with a year-on-year increase of 579%。
BorgWarner is an American auto parts company headquartered in Auburn Hills, Michigan. BorgWarner has manufacturing and technology centers in 92 locations in 22 countries and employs approximately 52,700 people worldwide.
BorgWarner is one of the world's largest auto parts companies, ranking among the top 25 companies in the global automotive industry.
BorgWarner entered China in 1993 and has been deeply involved in the Chinese market and has developed rapidly. In the face of the rapid development of China's automotive industry and the significant innovation and opportunities for new energy vehicles, BorgWarner has opened up a broader market, in China, BorgWarner has 18 manufacturing and technical facilities in nine regions (Shanghai, Ningbo, Taicang, Suzhou, Beijing, Tianjin, Dalian, Wuhan and Yantai).
In China's new energy vehicle market, BorgWarner mass-produced the IDM electric drive system for Li Auto. It is the rotor and stator of Xpeng's ** motors, which will be used in the X9 MPV and ...... Xpeng's next electric B-segment sedan
Overseas: BorgWarner supplies auto parts for Ford Motor, General Motors and Stellantis. The implication is that BYD has reached a licensing agreement with BorgWarner, which may indirectly provide blade battery cells for Ford Motor, General Motors and Stellantis in the future!
BYD's power batteries and the new energy vehicles it manufactures are complementary to each other.
According to the data, BYD's new energy vehicle sales in December 2023 reached 3410.43 million units, and sales for the whole year of 2023 will be 30244.17 million units, a year-on-year increase of 6230%。
The total annual sales of more than 3 million new energy vehicles means that BYD has won four sales champions at one time: the brand sales champion in China's auto market, the sales champion of car companies in China's auto market, the sales champion of China's auto market group, and the sales champion of the world's new energy vehicle market, becoming the "four crowns" of the new energy vehicle industry in one fell swoop.
Entering 2024, BYD's high-end models look up to the series, continue to make efforts, and are dominating the luxury car market.
There is also the latest news that BYD will launch the first lower hybrid model (less than 80,000 yuan) this year to harvest more sales and hit fuel vehicles!
In terms of power batteries, the "2023 Report on the World's Top Ten Battery Manufacturers" released by Clean Technica, an authority on new energy technology in the United States, shows that BYD will surpass LG New Energy in 2023 and take the second place. With the rise of the BYD car brand, the global market share of BYD batteries (Fodi batteries) jumped from 14% in 2022 to 16% in the same period in 2023.
The latest data released by South Korean research institute SNE Research shows that in 2023, BYD will win with 111The installed volume of 4GWh power batteries ranked second in the world, with a year-on-year increase of 579%。
Of course, BYD also has a business in consumer batteries and energy storage. For example, in the field of energy storage batteries, the top 5 companies in total shipments in 2023 are CATL, BYD, EVE Lithium Energy, Ruipu Lanjun and Xiamen Haichen. Obviously, BYD ranks second in the world.
On January 29, BYD announced a performance forecast showing that the company expects to achieve a net profit of 29 billion yuan to 31 billion yuan in 2023, an increase of 74 percent over the same period last year46%-86.49%；It is estimated that the non-net profit will be 27.4 billion yuan and 29.7 billion yuan, an increase of 75% over the same period last year22%～89.92%！