GAC AION spends 10.9 billion yuan to make its own power batteries

0
678

On October 27, GAC AION announced the registration and establishment of Yinpai Battery Technology Co., Ltd., officially entering the power battery market. According to the plan, the total investment will reach 10.9 billion yuan. The battery factory will start construction at the end of this year, and a 26.8GWh mass production line will be built in 2025.

Previously, BYD‘s FinDreams Battery, Great Wall Motors’ SVOLT, and NIO Automobile, which is developing its own “lithium manganese phosphate battery” and 4680 batteries, have all begun to develop their own power batteries. More and more car companies have begun to lay out in the power battery industry chain. As the most expensive component of electric vehicles, power batteries play a significant role in reducing costs for car companies to improve competitiveness.

From the release of magazine batteries in 2021, to the emergence of super-speed batteries, sponge silicon negative electrode batteries and microcrystalline super-energy iron-lithium batteries, these four original battery technologies have become the confidence for GAC to enter the battery field.

In February of this year, GAC AION battery trial production line started construction; in July, an energy technology company was established to build an energy supplement ecology of “charging, battery replacement, and energy storage”; in August, it joined hands with Ganfeng Lithium Industry to enter the lithium mining industry; In October, Rui Pai Power was established to develop its own electric drive system. In terms of raw materials, research and development, manufacturing, battery recycling and other power battery ecological industry chains, GAC AION has completed the layout of the entire line.

However, the power battery industry is dominated by giants such as CATL, BYD, and LG New Energy. How long will it take for AION’s Yinpai battery to catch up with them? Not to mention the gap in technology accumulation, in terms of market layout and product strength, these giants have already passed the recognition of mainstream car companies. It is not easy for Pai Battery to stand out.

Aion’s sales in recent months are also very optimistic. In September, it even exceeded 30,000 units in the Chinese market. The cumulative sales in the first 9 months reached 184,900 units, which is much higher than NIO, Xpeng or Li Auto and other new EV startups. In the power battery industry, we don’t know where GAC AION can go, but next year’s IPO listing is bound to become a non-negligible presence among new energy car companies.