On May 30th, Guangdong Regulatory Bureau's official website disclosed that the Guangdong Province has reported that the listed company's counseling work schedule shows that the coaching progress bar of Zhuhai Yinlong New Energy Co., Ltd. (hereinafter referred to as 'Zhuhai Yinlong') shows 'counselling' Termination, which means that only 8 months after China Merchants Securities entered the counseling, Zhuhai Yinlong’s listing process was abruptly halted. For Dong Mingzhu, who has held back Zhuhai Yinlong, it will face unprecedented pressure.
At present, there are mainly three types of new energy batteries on the market: three-element lithium batteries, lithium iron phosphate batteries, and lithium titanate batteries. Zhuhai Yinlong mainly develops lithium titanate batteries, while the Ningde era mainly uses lithium iron phosphate batteries.
Yin Yincang, the founder of Zhuhai Yinlong, once said publicly that Yinlong was one of the top five automotive companies that first studied lithium iron phosphate technology, but later gave up this technology and chose a safer lithium titanate battery. 2010 Zhuhai Yinlong purchased a 53.6% stake in OT Nanotechnology Co., Ltd., a company listed on Nasdaq in the United States, and obtained lithium titanate battery technology and production lines. Wei Yincang has expressed with confidence: At present, there are not many products that can compete with lithium titanate in terms of safety, high and low temperature resistance, cycle life, and charging time.
The advantages of Lithium Titanate Battery are obvious. Dong Mingzhu once said bluntly: 'Greek Electric's acquisition of Yinlong is based on its new energy battery technology. General new energy batteries will be replaced in 3 to 5 years. Yinlong New Energy The battery can be used for 20 years. In addition to a longer service life, Yinlong's new energy battery is also very fast.
But everything has two sides, the disadvantages of lithium titanate batteries can not be ignored.
In terms of energy density alone, lithium titanate batteries are at a disadvantage among the three types of batteries. The Northeast Securities Research Report has pointed out that the actual specific energy of lithium iron phosphate batteries is currently 100-120Wh/kg and that of silver-silver lithium titanate batteries is only 90Wh/ Kg, only half of some graphite negative electrode materials.
In addition, it has another fatal injury that is the price. Yinlong lithium titanate battery raw materials include titanium hydroxide and lithium hydroxide, the price is higher than graphite anode materials. The lithium titanate battery costs about three yuan battery 2-3 times.
Lithium titanate batteries have low energy density and large volume, and it is difficult to meet the technical requirements for subsidies for new energy passenger vehicles in the country. Therefore, promotion is very difficult. The technical route of lithium titanate batteries has always been treated with caution in the market, which explains why the market Very few companies choose it.
In contrast, lithium iron phosphate batteries operated in the Ningde era do not contain precious metal materials, so the raw material cost of lithium iron phosphate batteries can be compressed very low. In practical use, lithium iron phosphate batteries have high temperature resistance, safety and stability, Cheaper, better cycle performance.
Comparing the battery development paths of the two companies, we can see that although the fast-growing new energy market is more likely to be favored by the capital market, as the capital market matures and the project investment becomes more rational, the project itself is in line with market requirements. Whether this project can obtain the main factor favored by capital.
Zhuhai Yinlong IPO termination, does it mean the complete end of Gree's dream of making cars?