起点锂电·2025-09-11 10:11Core Viewpoint - The article discusses the significant battery order from Xiaomi to BYD, indicating a deepening collaboration in the electric vehicle sector and a shift in BYD's strategy from vertical integration to technology output [2][3]. Group 1: Xiaomi's Role in Battery Supply - Xiaomi is expected to become the largest external customer for BYD's Fudi battery, with a potential order of 200,000 vehicle batteries, translating to an estimated 12-15 GWh, which is about half of BYD's monthly battery production capacity [2][5]. - The first model from Xiaomi, the SU7, will utilize batteries from BYD and CATL, while the second model, YU7, will feature BYD's lithium iron phosphate batteries [2][5]. - The YU7 model has already received significant pre-orders, with 289,000 units ordered within an hour of its announcement, indicating strong market demand [6][8]. Group 2: BYD's Battery Supply Strategy - Fudi battery, since its independence in 2021, has primarily served BYD's internal needs, with only 6.8% of its production allocated for external supply in 2024 [5][10]. - Major external clients include various traditional and international automotive brands, with Xpeng being the largest external customer and Xiaomi positioned as the second [5][11]. - BYD's battery production capacity is expected to exceed 600 GWh by 2025, driven by expansion projects across multiple regions, with over 25 billion yuan invested in new facilities [12][15]. Group 3: Market Dynamics and Future Outlook - The collaboration between Xiaomi and BYD reflects a broader restructuring of the Chinese electric vehicle supply chain, with BYD accelerating its transition to external battery supply [3][10]. - The competitive advantage of BYD's blade battery technology, which has a cost advantage of 15%-20% compared to industry averages, is attracting new clients despite concerns over technology leakage [10][11]. - As BYD increases its external supply, the share of its own vehicle sales in Fudi's output is expected to decrease, potentially enhancing profitability through higher-margin external sales [15].