From the perspective of development framework, the U.S. and Japan lead in the R&D of and scientific and technological innovation in power battery materials, while China, South Korea and Japan have the largest industry scales. Regarding market share, the power batteries produced by Chinese, South Korean and Japanese enterprises are provided to nearly 95% automobiles in the world, with Chinese batteries taking up a proportion of more than 60%. Concerning technological and industrial development, the U.S. and Japan are the leaders in technology, South Korea is the leader in engineering application, and China is the leader in industry scale.
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As regards to battery application, Japanese and South Korean batteries are used in hybrid electric vehicles, plug-in hybrid electric vehicles and battery electric vehicles produced by world-known automobile groups. In the aspect of battery materials, global power batteries for vehicles are mainly LMO batteries and ternary batteries (made from high-nickel NCM and NCA). Except that Contemporary Amperex Technology Co., Ltd. provides batteries to various vehicle models of international brands, China lacks powerful enterprises that can participate in international competition.
After years of policy support, power batteries for commercial vehicles (buses and special vehicles) in China have achieved stable development and differ little in materials. They will develop toward higher energy density with LFP as the mainstream material. Chinese passenger vehicle manufacturers mainly choose power batteries of domestic brands, especially ternary batteries with high energy density.
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Statistics show that in 2018, the installed capacity of power batteries for new energy vehicles in China exceeded 56.89 GWh with a YOY increase of 56.88%. The top 20 enterprises contributed 52.23 GWh or 91.80% of the total installed capacity. By battery material, the installed capacity of ternary batteries was 30.1 GWh, accounting for 58.17% and increasing by 103.71% YOY; the installed capacity of LFP batteries was 22.2 GWh, accounting for 39% and increasing by 23.51% YOY; the installed capacity of LMO batteries was 1.08 GWh, accounting for 1.90% and decreasing by 26.70% YOY; the installed capacity of LTO batteries was 0.52 GWh, accounting for 0.91% and decreasing by 8.99% YOY. By battery application, the installed capacity of power batteries for battery electric vehicles was about 53.01 GWh, increasing by 55.64% YOY; the installed capacity of power batteries for plug-in hybrid electric vehicles was about 3.82 GWh, increasing by 75.34% YOY.
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