Planning has reached more than four times the estimated requirement! Is there overcapacity in power

Recently, it is estimated that by 2025, China's new energy vehicle market will need a power battery capacity of about 1000GWh to 1200GWh. So far, the announced capacity plans of battery factories, oems and other cross-border enterprises have reached 4800GWh, more than four times the estimated capacity needed. Many people have expressed concern that the power battery planning capacity is too much.

How is the current situation of Chinese power battery industry? What are the reasons for the high planning capacity? What is the development prospect of the industry? It's time for you to learn more

Q: How about the current situation of power battery industry?

A: According to the statistics of China Automotive Power Battery Industry Innovation Alliance, from January to October 2022, China's power battery production has reached 425.9GWh, with a year-on-year growth of 166.5%. Among them, the loading volume was 224.2GWh and the export volume was 105.3GWh. In 2022, it will be announced that the total production capacity of power batteries in production and under construction will exceed 1000GWh, which is expected to be more than 3 times of the annual loading capacity. Combined with the demand of export and energy storage applications, there is no situation of oversupply of effective capacity in the power battery industry at present.

Q: What are the reasons for the high planning capacity?

A: First, the rapid growth in the global production and sales of new energy vehicles has led to a rapid increase in the demand for power batteries. Against the background of a substantial increase in the marketing targets of new energy products, battery enterprises are forced to accelerate their capacity expansion plans to meet the marketing needs of downstream customers. Second, under the strategic layout of seizing more customer resources, battery enterprises reserve capacity in advance. Third, local governments continue to increase investment in the field of new energy vehicles and power batteries, encouraging enterprises to accelerate the scale of investment to win more support. Fourth, battery enterprises try to reduce manufacturing costs and improve their competitiveness by expanding production capacity.

Q: What is the future of the industry?

A: In order to further promote the sustainable and high-quality development of Chinese power battery industry, multiple measures should be taken to make overall planning and coordinated development.

First, optimize the allocation of resource factors to avoid homogenized vicious competition. Guide lithium enterprises to reasonably set development goals based on actual conditions and industrial trends, and appropriately expand production scale based on the premise of stable supply of key materials, sufficient investment in R&D and innovation, and adequate supporting funds; Factor endowments such as regional market, industrial base, coordination and innovation ability, capital and talent supply should be taken as the basis to coordinate the differentiated and distinctive layout. We will encourage the withdrawal of backward enterprises and inefficient production capacity.

Second, we will encourage coordinated development in clusters and strengthen the international competitiveness of leading enterprises. Relying on the existing industrial base, we will focus on building an internationally competitive power battery advanced industrial cluster with battery enterprises as the leader and upstream material enterprises and related service industries as the supporting facilities. We will actively guide the main chain enterprises and supporting enterprises to grow bigger and stronger. While filling the gap in core technologies and filling the weak links in key links, we will continue to forge the long board of advantages and enhance our international competitiveness.

Third, we need to deepen international cooperation and develop transnational business capacity and the global industrial chain. Make full use of overseas development opportunities to expand the local market, strengthen the development and utilization of overseas resources, the construction of battery production bases and market expansion, and encourage leading battery enterprises to cooperate with upstream and downstream partners to actively build a global industrial chain system. At the same time, we support enterprises in overseas mergers and acquisitions, equity investment and the establishment of research and development centers to build a global marketing service system and improve the level of international development.

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