GGII: Q1 xHEV model lithium battery installed capacity increased by 56% year-on-year

Statistics from the "China Monthly Sales Database of HEV&48V Energy-Saving Passenger Vehicles" released by the High-tech Industrial Research Institute (GGII) show that in Q1 2022, domestic sales of HEV&48V energy-saving passenger vehicles totaled approximately 343,000 units, a year-on-year increase of 47%. The corresponding installed battery capacity is about 0.34GWh, a year-on-year increase of 56%.

Among them, the sales of HEV energy-saving passenger vehicles were about 182,000, a year-on-year increase of 57%, and the corresponding installed battery capacity was about 0.26GWh, a year-on-year increase of 69%; the sales of 48V energy-saving passenger vehicles were about 161,000, a year-on-year increase of 38%. The corresponding installed battery capacity is about 0.08GWh, a year-on-year increase of 25%.

Judging from the sales performance from January to March, the growth rate of more than 45% is basically maintained, and the sales volume of energy-saving passenger vehicles for the whole year is expected to exceed 1.6 million.

Review the performance of the energy-saving passenger car market in the first quarter of 2022, mainly showing the following characteristics:

1. The number of models on sale is gradually increasing

In Q1 of 2022, the total number of domestic HEV&48V energy-saving passenger vehicles on sale is 67 models, an increase of 26 models compared with the same period last year.

Among them, HEV energy-saving passenger vehicles currently have a total of 31 models on sale, 14 new models compared with the same period last year. The top ten sales models are Highlander, Ralink, Senna, Crown Lufang, Accord, Corolla, Odyssey , Avalon, Camry, and Alison, the total sales volume of these ten models is about 127,000, accounting for 70% of the total sales of HEV energy-saving passenger vehicles.

Among them, 48V energy-saving passenger vehicles currently have a total of 36 models on sale, an increase of 12 models compared with the same period last year. The newly added models are mainly from the new models of SAIC-GM and Great Wall Motor.

The top ten sales models are Mercedes-Benz C-Class, Buick GL8, Volvo XC60, Cadillac XT5, Envision PLUS, Envision S, Volvo S60L, Hongqi H5, Cadillac XT6, and Volvo S90. The total sales volume of these ten models is about 112,000 vehicles, accounting for 70% of the total sales of HEV energy-saving passenger vehicles.

2. New changes in battery type selection

At present, domestic 48V energy-saving passenger vehicles basically use lithium-ion batteries, while HEV energy-saving passenger vehicles have undergone new changes in the selection of battery types. According to GGII statistics, it is found that FAW Toyota Lingfang RAV4 has switched from nickel-metal hydride batteries to ternary lithium batteries. The new cars of FAW Toyota Rongfang and GAC Toyota Vesa were launched and began to use ternary lithium batteries.

Among the 182,000 HEV models sold in the first quarter of this year, 71,000 were equipped with ternary lithium batteries, an increase of 28% over the same period last year. With the narrowing of the cost difference between ternary lithium batteries and nickel-metal hydride batteries and the improvement of battery technology and performance indicators, Toyota’s HEV energy-saving passenger vehicles are gradually changing from a single nickel-metal hydride battery to the coexistence of nickel-metal hydride batteries and lithium-ion batteries. .

3. The market share of self-owned brand HEV has increased

Although the current domestic HEV energy-saving passenger cars are basically Japanese cars, Chinese car companies are steadily and orderly promoting the development of energy-saving vehicles through R&D investment and deep cultivation of technology.

Judging from the performance of the HEV energy-saving passenger vehicle market in the first quarter, the sales volume of self-owned brand models accounted for about 4.9%, which increased from 10 units in the same period last year to about 9,000 units. The remaining sales were basically contributed by Japanese models, accounting for 95.1% .