Core Insights - The first phase of the Times Changan expansion project has officially commenced production in Yibin, marking a significant collaboration between CATL, Changan Automobile, and Deep Blue Automobile [1] - The project utilizes the latest generation of super wire technology, enhancing product competitiveness through high flexibility and rapid model switching [1] - CATL has invested over 60 billion yuan in Sichuan, establishing Yibin as the world's largest single-site power battery production base [1] Group 1 - After the launch of the first phase of the Times Changan expansion, CATL's production capacity in Yibin will increase from 180 GWh to 210 GWh [1] - The 9th phase project is expected to commence production by the end of this year, with the 4th and 10th phases projected to be completed next year, aiming for a total planned capacity of 300 GWh in the Sanjiang New District [1] - Yibin's power battery output is projected to exceed 100 billion yuan in both 2023 and 2024, with an expected annual output of 180 GWh for this year [2] Group 2 - Yibin serves as the main hub for the new energy vehicle and power battery industry chain in Sichuan, forming a "1+N" industrial layout centered around the CATL Yibin base [2] - The region has developed a comprehensive green circular economy that includes raw materials, battery components, battery cells, new energy vehicles, and battery recycling [2] - From January to August this year, Yibin achieved a power battery output of 110.8 GWh, reflecting a year-on-year growth of 48% [2]

Group 1 - The first phase of the Times Chang'an expansion project has officially commenced production in Yibin, Sichuan, marking a significant milestone for the collaboration between CATL, Changan Automobile, and Deep Blue Automobile in the power battery production sector [1] - The expansion project utilizes the latest generation of super wire drawing technology, enabling ultra-high flexibility and rapid model switching, significantly enhancing product competitiveness [1] - After the expansion, CATL's production capacity in Yibin will increase from 180 GWh to 210 GWh, with the 9th phase project expected to commence production by the end of this year [1] Group 2 - Yibin serves as the main hub for the new energy vehicle and power battery industry chain in Sichuan Province, rapidly forming a "1+N" industrial layout centered around the CATL Yibin base [2] - The total output value of power batteries in Yibin is expected to exceed 100 billion yuan in both 2023 and 2024, with a production volume of 110.8 GWh achieved from January to August 2023, representing a 48% year-on-year increase [2] - The total production volume for the year is projected to reach 180 GWh, contributing to the establishment of a green closed-loop ecosystem from raw materials to battery recycling [2]

Core Insights - The first phase of the Times Chang'an power battery expansion project was officially launched in Yibin, Sichuan, enhancing the capacity matrix for large-scale production and supporting Yibin's goal of becoming a global leader in the power battery industry [1][2] - The project is a joint investment by CATL, Changan Automobile, and Deep Blue Automobile, utilizing the latest super wire technology to achieve high flexibility and rapid model switching, significantly improving product competitiveness [1] - After the expansion, CATL's capacity in Yibin will increase from 180 GWh to 210 GWh, with additional phases expected to further boost production capacity [1] Company Developments - CATL has invested over 60 billion yuan in Sichuan, with seven factories already operational in Yibin, including the first, second, third, fifth, and sixth phases, along with Times Chang'an and Times Geely [1] - The Yibin facility is projected to produce 180 GWh of batteries this year, with a utilization rate exceeding 95%, contributing to over 15% of the national output [1] Industry Trends - In addition to the Times Chang'an project, nine other battery industry projects were launched in Yibin, with a total investment of 10.85 billion yuan, indicating robust growth in the region's battery manufacturing sector [2] - Yibin is positioned as the main hub for the new energy vehicle and power battery industry chain in Sichuan, creating a comprehensive ecosystem that includes raw materials, battery components, battery cells, new energy vehicles, and battery recycling [2] - The total output value of Yibin's power battery industry is expected to exceed 100 billion yuan in both 2023 and 2024, highlighting the area's strong industrial capabilities [2]