With the release of the new power exchange brand evogo, Contemporary Amperex Technology Co.Limited(300750) officially entered the power exchange market. It is reported that the Contemporary Amperex Technology Co.Limited(300750) launch includes power exchange solutions such as power exchange blocks and quick change stations, which means that it intends to become a "water seller" in the field of new energy vehicles.
"The amount of funds full of pitfalls is not only bought upstream of the power battery industry chain, but also the energy supplement business at the end of the layout. It is very reasonable and necessary both in terms of business prospect and development layout." Zhang Xiuyang, director of China passenger car industry alliance, told the Securities Daily.
trapped in the development of power exchange mode
"ningwang" enters the power exchange track
In fact, from charging to changing electricity, the marathon of energy supplement technology path of new energy vehicles has long been opened. Looking at the power exchange market, it can be divided into four categories: national team (national power investment), private power exchange service providers (Aodong new energy), new energy vehicle enterprises (Weilai) and power battery manufacturers ( Contemporary Amperex Technology Co.Limited(300750) ).
However, at present, the power exchange industry lacks industry standards, and enterprises do their own things. Taking the product specifications and dimensions of power batteries for electric vehicles as an example, there are as many as 145 battery models. In addition, the power exchange types also include side power exchange, sub box power exchange, chassis power exchange, etc. It can be seen that in order to realize power exchange between car enterprises, there is a gap to be crossed in terms of battery model and power exchange type.
It is understood that up to now, Weilai, BAIC, SAIC Roewe, Geely maple leaf, Chang'an, FAW Pentium and other car enterprises have launched electric passenger models. Among them, Weilai is mainly for C-end consumers, while other car enterprises mainly provide services to taxi operation companies. In this way, it is still unclear who will take the lead in becoming the "water seller" in the field of new energy vehicles.
As we all know, the power exchange solution solves the problem of the battery life and charging time of new energy vehicles. Through the separation of vehicle power, consumers can choose to rent batteries to further save the cost of purchasing vehicles.
At the same time, the policy level is warm. As early as the development plan for new energy vehicle industry (2021-2035) released in November 2020, it was mentioned that it is required to accelerate the construction of charging and replacement infrastructure, coordinate and promote the construction of intelligent road network facilities and standards, and provide financial support for the construction of charging piles as public facilities.
In this regard, Soochow Securities Co.Ltd(601555) analyst Zhou Ershuang believes that with the addition of leading battery plants such as Contemporary Amperex Technology Co.Limited(300750) and the introduction of national policies, it is expected to promote battery standardization.
" Contemporary Amperex Technology Co.Limited(300750) behind the entry, the sword refers to the 100 billion yuan scale power exchange blue ocean market still to be excavated." Zhang Xiuyang believes that Contemporary Amperex Technology Co.Limited(300750) covers the global power battery market and is a solid backing for it to enter the power exchange field. It can make the power exchange operation, maintenance and recycling of power batteries easier to operate efficiently under unified standards.
business model needs innovation
who owns the "water seller" of the power change track?
Citic Securities Company Limited(600030) the research report points out that under the background of "30.60", power exchange has become an inevitable form to promote the popularization of new energy vehicles in the whole scene. Based on the improvement of policies, capital and its own product power, 2022 is expected to be the first year of rapid development of the power exchange industry; Based on the industry prediction that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will reach 7.8 million in 2025 and the proportion of electric vehicle replacement is expected to reach 30%, the number of replacement power stations in China will reach 22000 in 2025, the operation market scale is expected to reach 263.1 billion yuan, and the replacement power station equipment market is expected to reach 69.3 billion yuan.
For this reason, the power exchange market has also attracted many players. In addition to Contemporary Amperex Technology Co.Limited(300750) , the current power exchange field in China includes Shandong Weida Machinery Co.Ltd(002026) , Nari Technology Co.Ltd(600406) , Xj Electric Co.Ltd(000400) and other power exchange equipment manufacturers; Midstream operation terminals such as Aodong new energy, bertan technology and spacetime electric; As well as vehicle enterprises such as Weilai and Geely, power grid enterprises, energy enterprises and even Internet enterprises.
However, the seemingly promising power exchange market has actually been facing problems such as high cost and difficult profit for operators. Chen Weifeng, general manager of times electric service, admitted to the Securities Daily, "the biggest risk in the incoming power exchange market is whether it can make profits and worry about services."
Taking Beijing as an example, by the end of 2020, the average utilization rate of power exchange stations in first tier cities such as Beijing is only about 20%. On the premise of vehicle matching, the profit and loss balance can be achieved only when the utilization rate of a single power exchange station reaches 60% to 70%.
At the same time, the power exchange mode can not be popularized without the support of the main engine factory. Zhou Ershuang said that the main engine plant faces the risk of losing core technology, which hinders the further promotion of power exchange mode.
In this regard, some practitioners in the power exchange industry told reporters that the mentality of automobile enterprises is changing. They are increasingly accepting standardized battery packs, so as to reduce the cost of automobile development and adaptation. At the same time, power exchange is giving birth to a new asset operation mode. Car companies and their battery asset companies are turning private batteries into corporate assets, and then issuing ABS through guaranteed assets to obtain funds. In this way, it can not only help charging enterprises expand the scale of charging piles and improve the service of charging stations. At the same time, novel business models and scenarios will also make the company more imaginative.
