固态电池渐行渐近、新技术及工艺持续涌现

1. Report Industry Investment Rating - Expected to outperform the benchmark by more than 5% in the next 6 months (Industry investment rating: Overweight) [49] 2. Core Views of the Report - Solid-state batteries offer stronger safety and higher energy density but face issues such as low ionic conductivity, poor cycle life, and relatively high costs [2][8][10] - There are diverse technological routes for solid-state batteries, with sulfides being the current mainstream direction [2][17][19] - With increased policy and industrial chain support, the commercialization of solid-state batteries is accelerating, and it is expected that the demand will reach 100 GWh by 2030 [2][22][28] - Considering the accelerated technological iteration of solid-state batteries, the successive establishment of pilot lines, and the continuous emergence of new technologies in equipment and materials, specific companies are recommended for investment [2][44] 3. Summary by Relevant Catalogs 3.1 Solid-state Batteries: Stronger Safety and Higher Energy Density - Solid-state batteries use non-flammable solid electrolytes instead of liquid electrolytes, achieving higher energy density and stronger safety [6][8][10] - The energy density of solid-state batteries can exceed 500 Wh/kg, breaking through the energy density bottleneck of liquid batteries and enabling longer electric vehicle range [8] - Solid-state batteries are safer because solid electrolytes have a higher melting point and can suppress lithium dendrite growth, reducing the risk of thermal runaway and short circuits [10] - Solid-state batteries have disadvantages such as low ionic conductivity, poor cycle life, and high production costs [12][15] 3.2 Diverse Technological Directions with Sulfides as the Mainstream - Solid-state batteries can be divided into four technological routes: polymers, oxides, sulfides, and halides, each with its own advantages and disadvantages [17][18] - Sulfide solid electrolytes have the greatest potential in the future, with high ionic conductivity, good interface contact performance, and flexibility, making them the key layout direction for mainstream manufacturers [19] 3.3 Increased Policy and Industrial Chain Support, Accelerating Solid-state Commercialization - The national level has successively issued policies to support the development of solid-state batteries, accelerating the industrialization process [22][23] - Battery manufacturers have updated their solid-state progress, with small-scale mass production expected in 2027 and large-scale mass production in 2030 [24][25] - Automobile manufacturers have released solid-state-related plans, with small-scale mass production expected in 2027 and large-scale implementation in vehicles by 2030 [26][27] - With the support of leading enterprises and the industrial chain, the mass production speed of solid-state batteries is expected to exceed expectations, and the cost is expected to approach that of liquid batteries by 2030 [28][30] 3.4 North Exchange Industrial Chain Targets - The solid-state battery industrial chain includes upstream (mineral resources, positive electrodes, negative electrodes, solid electrolytes, production equipment), midstream (cells, batteries, PACK, BMS), and downstream (consumer, power, energy storage, aerospace fields) [33] - Lingge Technology provides an automated overall solution for front-end materials in solid-state batteries and is expected to benefit from the development of the solid-state battery industry [34] - Nakonor is a pioneer in dry electrode equipment, continuously expanding into the solid-state field, and its products are expected to increase in value and contribute to the company's performance [37] - Yuanhang Precision focuses on the R & D of nickel-copper/nickel-aluminum layered composites, aiming to meet the technical requirements of iron-based current collectors for solid-state batteries [39] - The report recommends Nakonor, Yuanhang Precision, and Lingge Technology, and suggests paying attention to other companies such as BTR, Tianma New Materials, Wuhan Landian, Liwang Co., Ltd., Lijia Technology, Yintu Network, and Haixi Communication [2][44]