Far East Foster, the leader in cylindrical batteries, has begun to enter the rectangular and flexible battery markets.
On December 24, the Far East Foster parent company Smart Energy announced that it intends to raise a total of no more than 3.18 billion yuan through non-public offering of shares, of which 1.8 billion yuan will be used to invest in the construction of "Far East Foster New Energy Co., Ltd. High Energy Density Power Storage (Square) Lithium Battery R & D and Industrialization Project ".
The announcement shows that the total investment of the project is estimated to be 1.8 billion yuan, of which the construction investment (excluding preparatory fees) is about 1.55 billion yuan. The construction period is 2 years. Four fully-imported square power cell production lines and supporting plants and warehouses will be constructed. Ancillary projects. The project construction site is located in the Economic and Technological Development Zone of Yichun City, Jiangxi Province. After completion, the estimated internal rate of return after tax is 15.63%.
The battery type invested this time may be a high-energy-density ternary battery. When announcing the feasibility of the project, it was stated that the ternary lithium battery has the advantages of high energy density and high voltage compared to lithium iron phosphate batteries, and the battery quality is lighter, making Electric cars have greater battery life. As national technical standards impose stricter requirements on battery system quality ratio and power consumption indicators, high energy density and battery lightweighting will be the future direction of battery development.
Starting point research data shows that from January to November 2018, Foster's total installed capacity was 396.13MWh, ranking 14th. In November, the total installed capacity was 145.1MWh, a 1109% increase from the previous month, of which the installed capacity of passenger cars was 134.24MWh. Ranked 9th.
At present, the company's power batteries are mainly used in the fields of new energy passenger cars, logistics vehicles and energy storage. The main customers include JMC, Zotye, Shaanxi Tongjia, etc. At the same time, the company is also continuously expanding strategic customers such as Brilliance, Chery, Dongfeng and so on.
In terms of energy density, at present, the company has 4.0Ah-4.5Ah21700 cells, using high nickel positive silicon carbon anode material system, the energy density is above 240Wh / kg, and the energy density of PACK group is 160-180Wh / kg. It is expected that next year, Far East Foster will start production of 21700-5.0Ah and higher Ah-hour batteries, with an energy density of more than 260Wh / kg.
In terms of production capacity, on October 26, the Far East Foster 3GWh 21700 power battery project was officially put into operation, and it is expected that the capacity will reach 6GWh after it reaches capacity in 2019. The Far East Foster 21700 project introduced two intelligent production lines with a daily output of 400,000 21700 lithium batteries, mainly in Japan and South Korea.
Far East Foster is a domestic leader in ternary 18650-type lithium batteries. The output of 18650-type lithium batteries is 1.2 million pieces / day. After the 21,700 projects are fully operational, the total capacity is expected to reach 10 GWh / year.
The company stated that the existing production capacity could not meet the rapidly growing market demand in the future. Therefore, the implementation of this project will effectively increase the company's production capacity and better meet customer demand.
In addition to the layout of 21700, Foster has also entered the soft package market. In mid-October, 68161227 30Ah soft pack power lithium batteries produced by Far East Foster passed the mandatory inspection of the National Motor Vehicle Product Quality Supervision and Inspection Center.