【DT新材料】 获悉，9月17日， 吉利 旗下闪聚电池成都基地项目签约成都，主要生产电池包，设计年产能超25万套 ，将配套成都及周边的吉利体系 整车企业。预计日产量约600套，投产后五年累计产值可达200亿元。 据悉，在电池领域，吉利旗下已经布局 耀宁 、 极电 和 闪聚 三大板块构成： 耀宁生产的神盾电池主要配套银河品牌，极电生产的金砖电池用于极氪 品牌，二者负责电芯制造，而电池包（PACK）则由闪聚电池负责。 同时，吉利已经并将 电池业务整合为全新集团—— 吉曜通行 。神盾电池与金砖电池统一合并为"神盾金砖电池"品牌，聚焦磷酸铁锂短刀技术路线， 三元电池则继续由 宁德时代、欣旺达、孚能科技 等外部企业供应。 整合后，吉曜通行目标到2027年实现70GWh电池产能，可配套100万辆新能源车。同时，闪聚电池加快全国基地建设，目前已设立浙江、湘潭、贵阳 及成都等项目。 碳材料 X 电池 轻量化、高性能、长寿命、低能耗、高功率、可持续 STOLOR 钢电池 氢燃料电池 锂电池 除核心电池企业外，吉利还通过 耀能、利信能源、安驰新能源、衡远新能源 等控股企业，以及 威睿、耀宁新能源 （动力电池业务划归吉曜通行，储 ...

Core Viewpoint - Geely is strategically integrating its battery assets, consolidating previously scattered battery brands and capacities into a unified brand, "ShenDun JinZhuan" battery, to enhance brand perception and operational efficiency [3][4][11]. Battery Brand Integration - Geely established Zhejiang JiYao TongXing Energy Technology Co., Ltd. to integrate JinZhuan and ShenDun short-blade batteries into the ShenDun JinZhuan brand [3]. - The integration aims to elevate both battery and vehicle brands, facilitating resource consolidation and enhancing competitiveness in the battery sector [4][11]. Product Development and Safety - The newly branded ShenDun JinZhuan battery combines the safety features of ShenDun batteries with the advanced cell technology of JinZhuan batteries, aiming for a high-end market position [6][7]. - The ShenDun short-blade battery has passed rigorous safety tests, including a unique 5.8mm bullet penetration test, while the JinZhuan battery has undergone extensive fire and pressure tests [7]. Production Capacity and Strategy - JiYao TongXing currently operates eight production bases with a total planned capacity exceeding 176 GWh, aiming for a target of 70 GWh by 2027 [12][14]. - Geely plans to source 40% of its battery needs from JiYao TongXing, with the remainder supplied by CATL and other sources, indicating a strategic shift towards optimizing existing capacities rather than expanding production [12][14]. Future Directions - Geely is focusing on transforming its business model towards energy services, exploring battery-as-a-service and battery swapping models, and establishing a battery bank [14]. - The company is also looking to integrate its electric drive and other related businesses in the near future, indicating a broader strategic consolidation across its operations [15].

Core Viewpoint - The establishment of the Shendun Golden Brick Battery brand by Geely is part of a strategic integration aimed at enhancing battery safety and performance, while also consolidating battery resources to improve efficiency and reduce costs [3][6][8]. Group 1: Brand and Product Development - Geely has integrated its battery assets under the newly formed Zhejiang Jiyao Tongxing Energy Technology Co., Ltd., which will oversee the Shendun Golden Brick Battery brand, combining the Golden Brick and Shendun Short Blade batteries [3][4]. - The Shendun Short Blade battery, launched in June 2024, and the Golden Brick battery, released in November 2023, will now be marketed under the unified brand, enhancing brand recognition and safety perception [2][4]. - The new battery design incorporates a gold insulation film, which improves high-voltage resistance to 4000V, a 30% increase compared to the previous blue film, albeit at a higher cost [3][4]. Group 2: Safety and Performance Features - The Shendun Short Blade battery has undergone rigorous safety testing, including a unique 5.8mm bullet penetration test, while the Golden Brick battery has passed industry-first tests for external fire exposure and overpressure needle puncture [4][5]. - The Shendun Golden Brick Battery will feature several product lines, including a super-fast charging series capable of charging from 10% to 80% in just 10.5 minutes, and a high energy density series with a density of 192Wh/kg and a lifespan of 3500 cycles [5][6]. Group 3: Production Capacity and Strategic Integration - Jiyao Tongxing currently operates eight production bases with a total planned capacity exceeding 176GWh, aiming for a target of 70GWh by 2027 [7][8]. - Geely plans to source 40% of its battery needs from Jiyao Tongxing, with the remaining 60% supplied by CATL and other sources, ensuring that the Shendun Golden Brick Battery will primarily serve the Zeekr, Lynk & Co, and Galaxy brands [7][8]. - The integration of battery resources is expected to streamline product development and marketing, leading to cost savings of 10%-20% in R&D and management expenses [6][8]. Group 4: Future Directions and Market Strategy - Geely aims to leverage existing global battery production capacity rather than building new factories, focusing on resource reorganization and collaboration [8][9]. - The company is exploring innovative business models, including battery-as-a-service and battery banks, to transition towards a more sustainable energy service model [8].

Core Viewpoint - The Chinese automotive industry is undergoing significant consolidation, moving from a phase of rapid brand creation to a focus on integration and efficiency, with many familiar names likely to disappear [3][4][5]. Group 1: Recent Mergers and Acquisitions - Geely plans to acquire the remaining 34.3% of Zeekr, making it a wholly-owned subsidiary and delisting it from the NYSE [4]. - NIO announced the deep integration of its sub-brands, Lada and Firefly, into the main brand, eliminating their independent structures [5]. - GAC Group is restructuring its research institute into three major segments, integrating them into the main product division [5]. - Changan and Dongfeng are reportedly finalizing a strategic merger, which could lead to a combined annual sales of nearly 4.58 million vehicles, surpassing BYD [5][8]. Group 2: Industry Overview - In 2024, China's total automotive sales reached 31.44 million units, with 12.87 million being new energy vehicles, both figures being the highest globally [10]. - BYD has become the first Chinese automaker to rank among the top ten in global sales, surpassing Tesla in both sales and revenue in the new energy vehicle sector [10]. - Despite the large number of new car manufacturers, over 130 automakers exist in China, with more than a thousand brands, leading to market saturation [12]. Group 3: Challenges and Competition - The automotive industry in China is characterized by a significant disparity in scale, with BYD's 2024 global sales of 4.27 million units still falling short of Toyota and Volkswagen's figures [13]. - The industry faces a profit margin crisis, with the profit rate dropping from 8.99% in 2014 to just 4.3% in 2024, indicating a 59% reduction in profitability [17]. - The ongoing price war initiated by Tesla has led to widespread financial strain across the industry, with over 4,000 dealerships closing in 2024 [17][18]. Group 4: Strategic Importance of Scale - The automotive industry requires significant scale to optimize processes, reduce costs, and support technological advancements, especially in the era of electric vehicles and smart driving [15]. - Historical precedents show that consolidation is essential for survival, as seen in the U.S. automotive industry, which has reduced from over 1,000 manufacturers to a few major players [15]. - Mergers and acquisitions are seen as a way to enhance competitiveness and avoid the pitfalls of excessive competition and resource wastage [15][18]. Group 5: Future Outlook - The consolidation trend is expected to continue, with the goal of creating super automakers capable of competing globally [21][22]. - The integration of resources and capabilities is crucial for enhancing product quality and innovation, as demonstrated by companies like Geely and BYD [21][22]. - The success of these mergers will depend on their ability to transform into entities with new productive forces and core competitiveness, ensuring China's position as a leading automotive market [23].

极氪即将成为吉利的全资附属子公司。 日前，吉利发布公告称，计划收购极氪已发行的全部股份。目前持有极氪约65.7%的股份，如交易完成，极氪将与吉利汽车实现完全合并。 图源：港交所官网 吉利认为，此次私有化是进一步落实《台州宣言》，提升资产利用效率，强化市场竞争力。 截至美东时间5月8日收盘，极氪的总市值为66.24亿美元，不及上市首日接近70亿美元的市值也大幅低于其A轮融资后的130亿美元的估值。 相较于其它在美上市的国内新能源汽车企业，蔚来的美股市值为88.94亿美元；理想为275.92亿美元；小鹏为186.24亿美元。 国际智能运载科技协会秘书长张翔认为，私有化后的极氪，能够摆脱资本市场的短期波动干扰，提升决策效率，不再受美国股票市场规则的诸多限制，从而 能够更灵活地制定战略，实现长远布局。 双重考验 去年5月，极氪成为继"蔚小理"之后第四家在美上市的中国新能源汽车公司。 上市首日极氪股价高开高走，开盘价为26美元，盘中最高触及29.36美元，最终收盘报28.26美元，较发行价上涨34.57%。 此后，股价持续走低。 据智通财经，有汽车行业投资人表示，长期以来，依附母公司吉利控股集团的极氪并不被视作一家科技 ...

Core Viewpoint - Geely is shifting its strategy from a multi-brand approach to a more integrated model, focusing on resource consolidation and technological synergy to enhance competitiveness in a challenging automotive market [2][3]. Group 1: Brand and Structural Changes - In 2014, Geely decided to cancel three sub-brands to concentrate sales resources and meet the strong demand from Chinese consumers [2]. - On May 7, Geely announced plans to acquire all issued shares of Zeekr Technology for approximately $6.5 billion, making Zeekr a wholly-owned subsidiary and consolidating its passenger car brands under Geely [2][3]. - This marks the largest adjustment in Geely's passenger vehicle system, aiming to reduce internal competition and streamline management across brands [2][3]. Group 2: Technological Integration and Cost Reduction - Following the release of the "Taizhou Declaration" in September, Geely has undertaken several integrations to minimize redundant investments and promote technology sharing, such as opening Zeekr's advanced driver assistance system to Geely's brands [3]. - Geely's passenger vehicle segment plans to collaborate deeply in areas like vehicle architecture, electronic architecture, advanced driving, smart cockpits, and power batteries [3][4]. - The battery business is identified as the most complex area of strategic integration, with the establishment of a new battery industry group named "Jiyao Tongxing" [4]. Group 3: Battery Business Strategy - Geely is reorganizing its battery-related R&D and manufacturing resources through equity acquisitions, aiming for a platform-based approach to unify R&D, procurement, and manufacturing [4]. - The existing battery brands, "Shendun Short Blade" and "Jinzhuan," will be integrated into "Jinzhuan Battery Cell," offering three versions: super fast charging, high energy density, and super hybrid [4]. - Geely aims to increase the supply ratio of Jiyao Tongxing to 30% within two years while maintaining long-term collaborations with suppliers like CATL and Sunwoda [4].

Core Viewpoint - Geely Automobile is divesting its non-core business by selling stakes in Geely Xinhua to focus on enhancing its core automotive business competitiveness [1][2]. Group 1: Transaction Details - On April 30, Geely Automobile announced the sale of 41.5% and 28.5% stakes in Geely Xinhua for 49.8 million and 34.2 million RMB respectively, resulting in Geely no longer holding any equity in Geely Xinhua [1]. - After the transaction, Geely Xinhua will be owned 70% by Zhejiang Jiyao and 30% by a subsidiary of Xinhua [2]. Group 2: Business Focus and Future Plans - Geely Xinhua, established on September 24, 2021, focuses on developing, producing, and selling hybrid vehicle battery cells, modules, and packs, with a registered capital of 100 million RMB [1]. - The company is projected to achieve a net profit of 165 million RMB in 2024, but reported a loss of 23.89 million RMB in the first quarter of 2025 [1]. - Geely Holdings announced the establishment of a new battery industry group, Zhejiang Jiyao Tongxing Energy Technology Co., Ltd., to integrate its battery businesses [2]. Group 3: Product Development - The new battery group will unify existing battery brands under the "Shen Dun Jin Zhan" brand, focusing on high-end luxury brands like Zeekr and Lynk & Co [2][3]. - The Jin Zhan battery will continue to focus on lithium iron phosphate technology and plans to launch a series of advanced battery products [3].

Core Viewpoint - The battery suppliers are capturing over 90% of the profits in the new energy vehicle (NEV) industry, while vehicle manufacturers are struggling with losses, highlighting a significant imbalance in the industry dynamics [2][3]. Financial Performance - CATL reported a revenue of 362 billion yuan for 2024, a 9.7% decrease from 400.9 billion yuan in the previous year, but its net profit increased by 15.01% to 50.745 billion yuan, averaging over 100 million yuan in daily profit [2]. - Zeekr, a major client of CATL, reported a total revenue of 113.89 billion yuan in 2024, a 39% increase, but incurred a net loss of 5.79 billion yuan, reducing its losses from 8.264 billion yuan in 2023 [2]. Industry Dynamics - The current state of the automotive industry is unhealthy, with battery suppliers profiting significantly while vehicle manufacturers face continuous losses [3]. - The cost of battery procurement accounts for approximately 40% of the total vehicle cost, exacerbating the financial strain on NEV manufacturers [2]. Strategic Moves by Zeekr - Zeekr is implementing two major strategies to address its financial challenges: 1. **Brand Integration and Cost Reduction**: Zeekr acquired 51% of Lynk & Co for 9.367 billion yuan to streamline operations and reduce overlapping R&D costs, aiming for a 20% improvement in overall operational efficiency [3][7]. 2. **Establishment of Jiyao Tongxing**: This new battery group aims to reduce reliance on CATL by developing in-house battery solutions, potentially lowering costs by 20,000 to 30,000 yuan per vehicle, which could save 6 billion yuan annually if sales reach 300,000 units [12][13]. Market Positioning - The dual-brand strategy positions Zeekr as a global luxury tech brand (above 300,000 yuan) and Lynk & Co as a high-end NEV brand (above 200,000 yuan), fostering differentiated competition [7][10]. - The integration of Lynk & Co into Zeekr is expected to enhance product development efficiency by over 15% and reduce costs across both brands [7]. Future Outlook - The ongoing changes within Zeekr and Lynk & Co are aimed at achieving better synergy and operational efficiency, while the establishment of Jiyao Tongxing signifies a strategic shift to mitigate high battery costs and challenge CATL's dominance [14][15]. - The current profit margins enjoyed by CATL are anticipated to be challenged, with the potential for a significant shift in the NEV industry's profit landscape in the near future [15].

Group 1 - Geely Group is accelerating its adjustments, particularly within its subsidiaries [1] - Zeekr Technology Group made urgent personnel appointments, with Lin Jie overseeing domestic marketing for the Zeekr brand [2] - Lin Jie, a veteran from Geely, has a track record of significant sales growth, with Lynk & Co. achieving over 120,000 units sold in 2018 and a target of over 285,000 units for 2024 [2] Group 2 - Zeekr Technology Group aims for a total sales target of 790,000 units this year, with Lynk & Co. contributing 390,000 units and Zeekr 320,000 units [2] - As of April, Lynk & Co. has sold 100,000 units, achieving 25.6% of its annual target, while Zeekr's sales were 13,727 units in April, showing a year-on-year decline of nearly 15% [2][3] - The competitive landscape is expected to intensify, posing challenges for Lin Jie in achieving synergy between Lynk & Co. and Zeekr [3] Group 3 - Geely's battery business is undergoing integration, with the establishment of an independent battery group named Jiyao Tongxing, merging two technology brands into "Shen Dun Jin Zhan Battery" [3] - Jiyao Tongxing was registered at the end of January this year, with Zheng Xin as the legal representative [3] - Recent executive changes at Jiyao Tongxing include An Conghui, the current CEO of Zeekr Technology Group, becoming the chairman [3]

Core Viewpoint - The article discusses the strategic moves of various automotive companies in the battery sector, particularly focusing on the establishment of independent battery divisions and the trend towards self-manufacturing batteries to reduce costs and stabilize supply chains [4][6][7]. Group 1: Company Developments - Geely Holding Group announced the establishment of an independent battery division, Zhejiang Jiyao Tongxing Energy Technology Co., aiming to centralize procurement, research, and manufacturing to lower battery costs and enhance supply chain stability [4]. - GAC Aion established the Yinpai Battery Company in October 2022, with a total investment of 10.9 billion, planning to produce 6GWh in the first phase and reach 36GWh by 2025 [6]. - NIO established NIO Battery Technology (Anhui) in October 2023, focusing on self-research of 4680 cylindrical batteries and lithium manganese iron phosphate composite batteries, with plans for production in 2026 [6]. - Chery Automobile's Yiyi Energy lithium battery project aims for over 40% self-supply rate by 2025, with an initial investment of 8.01 billion [6]. Group 2: Market Trends - The battery industry is witnessing a trend where companies like Geely and GAC are increasing their self-manufactured battery installations, with significant growth in their market shares [7]. - The short-blade battery, known for its standardization and fast-charging advantages, is gaining preference among automotive companies [8]. - Geely's unified battery brand, Shendun Jinzhang Battery, will focus on lithium iron phosphate short-blade technology, with 90% of its total production capacity dedicated to this type [8]. Group 3: Technological Innovations - Honeycomb Energy, spun off from Great Wall Motors, emphasizes the advantages of short-blade batteries, highlighting innovations in structure and manufacturing processes that enhance energy density, safety, and production efficiency [9]. - Short-blade batteries exhibit excellent performance in fast charging, consistency, and longevity, with successful applications in various well-known domestic and international manufacturers [10]. - The ongoing technological advancements in short-blade batteries are expected to expand their applications in high-voltage scenarios and energy storage markets, showcasing superior heat dissipation and low-temperature rise characteristics [10].