Di Yi Cai Jing·2025-05-14 05:29Company Insights - BYD's subsidiary, Fudi Battery, is launching a full range of electric batteries for two-wheeled and three-wheeled vehicles, promoting the slogan "Lead-acid exit, Lithium Iron Phosphate new start" [1] - Fudi Battery has already established partnerships with several electric vehicle brands, including LIMA and Tailg, to develop customized lithium batteries with higher energy density [2] - The company aims to leverage its research and development from passenger vehicles to enhance the safety and performance of batteries for two-wheeled vehicles [1][2] Industry Trends - The market for lead-acid batteries in two-wheeled vehicles is mature, but there is an opportunity for lithium battery market growth due to the lack of significant market leaders [2] - The cost of lithium batteries is higher than lead-acid batteries, with replacement costs for lead-acid batteries ranging from 300 to 400 yuan, while lithium batteries can exceed 800 yuan [3] - The competition between lead-acid and lithium batteries is ongoing, with lead-acid batteries currently favored for their safety and lower cost, despite lithium batteries offering better longevity and performance [2][6] Market Dynamics - China's production of lead-acid batteries accounts for over 40% of global output, with production figures reaching 7.843 million tons in 2023, slightly declining to approximately 7.451 million tons in 2024 [5] - The electric two-wheeler market in China has over 400 million units, with nearly 100 million new batteries sold annually, indicating significant growth potential [5] - The export of electric three-wheeled vehicles reached 650,000 units in 2024, with a total export value of nearly 5.5 billion USD, reflecting a growth of about 10% [5]