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CATL & Tesla ink deal for partnership, e-mobility industry is gearing up

Large  Small Date:2020-02-03
Note: CATL announced on 3rd Feb that the company intended to sign an agreement with Tesla to supply battery products to Tesla, and the purchase volume of products must be subject to Tesla's subsequent specific purchase orders.


In the panic atmosphere of Wuhan coronavirus epidemic, there was some news in Chinese lithium ion market:
CATL announced on 3rd Feb that the company intended to sign an agreement with Tesla to supply battery products to Tesla, and the purchase volume of products must be subject to Tesla's subsequent specific purchase orders.

 
As leading domestic mainstream battery suppliers, CATL supplies power batteries to traditional car companies such as Daimler, BMW, and Volkswagen. After cooperating with Tesla, CATL will no doubt further increase its market share. At present, the two sides have not officially announced the details of the cooperation. The announcement did not specify whether CATL supplies cylindrical batteries or prismatic batteries. Previously, Tesla purchased NCA cylindrical batteries from Panasonic and NCM 811 cylindrical batteries from LG Chem. The domestic Model 3 battery is the latest 21700 supplied by Panasonic and LG Chem. The energy density of the battery is reported to be about 300Wh / Kg, which is about 20% higher than the original Panasonic's 18650 205Wh / kg. It can be speculated that CATL is more likely to produce NCM 811 batteries to Tesla. With CATL supplying NCM 811 batteries to Tesla, CATL’s battery supply to Chinese domestic car manufacturers might be affected since Chinese domestic automakers can use batteries supplied by other battery manufacturers. ICCSINO estimates that after the "Black Swan" incidents, e-mobility and lithium ion market competition will be more competitive.

 
Indeed, virus would have certain negative effects on Chinese economy in 2020 especially in Q1. However, from the perspective of historical vehicle data, usually EV sales keep comparatively weakening in Q1 in the whole year. Definitely Wuhan coronavirus will certainly influence Chinese EV sales in Q1 2020. Nevertheless, under the precondition of virus controlled well in Q1 2020, vehicle demands will be stimulated by virus since people feel unsafe in public transportations under the shadow of dangerous virus just like 2003 SARS situation. Vehicle sales increased dramatically in Q2 2003. Therefore, ICCSINO reckons that Chinese e-mobility market will show strong growth momentum driven by Chinese subsidy policy and new demand stimulation.




 




 

 

 
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