光大证券研究·2025-03-18 08:57Core Viewpoint - BYD launched its new generation pure electric technology platform, the Super e-platform, on March 17, 2025, with pre-sale prices for the Han L EV ranging from 270,000 to 350,000 yuan and for the Tang L EV from 280,000 to 360,000 yuan, set to officially launch in April 2025 [2]. Group 1: Technological Advancements - The Super e-platform features the world's first full-domain kilovolt high-voltage architecture, upgrading the battery, motor, and electronic control to 1000V, achieving a maximum charging current of 1000A, which is a 25% efficiency improvement over the current mainstream 800V platforms [3]. - BYD has developed a 1500V-rated silicon carbide power module to enhance system efficiency and reliability, along with a safety redundancy design that includes a 1500V/1200A energy cutoff switch capable of disconnecting the high-voltage circuit within 2ms [3]. Group 2: Motor and Battery Innovations - The Super e-platform's motor reaches a maximum speed of 30,511 rpm, utilizing innovative materials such as 1000MPa high-strength silicon steel sheets and a 0.2mm silicon steel bonded iron core, achieving a power density of 16.4 kW/kg and a single motor power output of 580 kW, surpassing traditional V12 engines [4]. - The platform introduces a 10C megawatt flash charging battery, with the highest global production charging power of 1 megawatt (1000 kW), allowing for a range increase of over 400 kilometers in just 5 minutes of charging, supported by advanced thermal management technologies [5]. Group 3: Market Opportunities - The rise of high-voltage fast charging necessitates collaborative upgrades across batteries, vehicles, and charging stations, creating investment opportunities in materials and components, including fast-charging batteries, vehicle architecture, and ultra-fast charging stations [6][7]. - Key areas for investment include fast-charging battery materials (anode, electrolyte, and coating materials), vehicle components requiring high-voltage designs (such as SiC devices, PTCs, compressors, and connectors), and ultra-fast charging infrastructure (liquid cooling modules and charging terminals) [6][7].