AutoBeta(AutoBeta.net)02/20 Report--

Since Tesla announced the news of its cooperation plan with Ningde Times, the specific progress of the two has become a concern in the industry. Although the two sides have publicly announced cooperation plans, there have been media reports recently that "the cooperation between Ningde era and Tesla is only at the stage of intentional agreement, and the specific details are undetermined".

In response to this matter, today's China Securities Network conducted a verification to Ningde Times, and received a response from Ningde Times that the cooperation is not an "intentional agreement", the company has signed a mass production supply pricing agreement with Tesla, Tesla will purchase lithium ion power batteries from Ningde Times, and everything is subject to the announcement. It means that no accident, Ningde era will issue an announcement in the near future.

On February 3, Ningde Times issued an announcement confirming the signing of an agreement with Tesla. Ningde Times said that according to the agreement signed by both parties, the company will supply lithium-ion power battery products to Tesla. The company and Tesla have agreed on the product supply mode and product standard during the business cooperation period. Tesla will determine the specific procurement situation by order according to its own demand. The agreement does not impose mandatory restrictions on Tesla's purchase volume, and the final sales amount shall be subject to the actual settlement of purchase orders issued by Tesla.

In this agreement, there is no clear agreement on the sales quantity and amount of the subject matter, but it is stipulated that from July 1,2020 to June 30,2022, Tesla will determine the specific procurement situation by order according to its own needs.

According to Ningde's response, the domestic Model 3 electric vehicle produced in Shanghai factory will use lithium iron phosphate batteries produced in Ningde era in the future, that is, cobalt-free batteries, which will be Tesla's first use of lithium iron phosphate batteries on its products.

Compared with ternary batteries, lithium iron phosphate batteries have better safety, lower loss, excellent service life, and price advantages, and only one disadvantage is insufficient energy density, so battery companies represented by BYD and Ningde era are working hard to make up for this shortcoming.

At present, the battery cells of Tesla's models are produced by Panasonic and LG, among which Model S and Model X use Panasonic batteries, while the "Recommended Model Catalogue for New Energy Vehicle Promotion and Application" released in December last year shows that the domestic Tesla Model 3 applies Panasonic and LG Chemical batteries at the same time.

Since Tesla's Shanghai plant is nominally only an assembly plant, according to Tesla's Shanghai plant manufacturing director,"At present, Tesla Shanghai plant parts localization rate is about 30%, plans to increase to 70%-80% by July 2020." As the most important component in the production of electric vehicles, batteries are also Tesla's most important components.

Now, Ningde Times has confirmed that Tesla will use its lithium iron phosphate battery, that is, once the news is announced, the domestic Model 3 will use the lithium iron phosphate battery provided by Ningde Times from July this year, and the price of its domestic model is expected to be further explored.

Although the domestic Model 3 delivery is less than two months old, Tesla Shanghai Super Factory has produced 2625 Model 3 models in January this year. Tesla said it currently produces 3000 Model 3 cars a week in Shanghai. Affected by the epidemic situation, Tesla Shanghai factory has been doing a good job in epidemic prevention work, resumed work on February 10.

In addition, due to Tesla "abandon cobalt from lithium" news exposure, leading to today's China A-share market cobalt stocks fell across the board, on the contrary, lithium iron phosphate concept stocks strong outbreak, among which BYD car today limit.

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