Finance Associated Press reported on October 24th (Reporter Chu Chu), Contemporary Amperex Technology (300750.SZ) released new products today. In addition to long range and supercharge function, the new high-mixed battery allows Contemporary Amperex Technology's sodium-ion batteries to once again be applied in new scenarios.

Targeting the growing high-mixed market

On the afternoon of October 24th, Contemporary Amperex Technology held a super high-mixed battery brand and new product launch event. At the event, Contemporary Amperex Technology introduced the 'Xiaoyao' super high-mixed battery.

CTO Gao Huan of the Passenger Vehicle Business Unit of Contemporary Amperex Technology introduced at the meeting that the Xiaoyao super high-mixed battery is the world's first pure electric vehicle with a range of over 400 kilometers, and also features 4C supercharge function, capable of charging for ten minutes, providing a range of 280 kilometers, with recharging speeds surpassing most pure electric vehicle models in the market with over 600 kilometers of range. In low-temperature scenarios, Contemporary Amperex Technology incorporates sodium-ion battery technology into super high-mixed batteries, pioneering lithium-sodium AB battery system integration technology, with the battery capable of discharging in extreme cold of minus forty degrees Celsius.

Gao Huan mentioned that the Xiaoyao high-mixed battery has already been successfully applied in multiple vehicle brands, including Li Auto, Wey, Deep Blue, Qoros, and Nezha. It is projected that by 2025, nearly 30 high-mixed models, including Chery, SAIC, Geely, GAC Aion, and BAIC, will be equipped with Xiaoyao batteries.

Why choose to release new products at this time?

To this, Luo Jian, General Manager of the Marketing Department of Contemporary Amperex Technology, stated at the launch event that China's new energy passenger vehicles had a penetration rate of 53% in September, with the penetration rate exceeding 50% for three consecutive months since July this year. This means that electric vehicles have completely surpassed rbob gasoline vehicles, becoming the choice of most consumers.

No one in the mass market has ever wanted to be a minority. Therefore, we can predict in advance that the comprehensive electrification of passenger vehicles in China will be basically completed within the next 2-3 years. If this is indeed the case, China will create a miracle. - Luo Jian

Luo Jian also mentioned that in the past three months, plug-in hybrid models accounted for 43% of new energy passenger vehicles, and the sales of plug-in hybrid models in September this year increased by nearly 120% year-on-year. "This indicates that plug-in hybrid models are no longer just a transitional product from gasoline to electricity. Apart from playing a unique and important role in driving electrification, it has become an independent category."

In fact, in recent years, the growth rate of pure electric vehicle sales has significantly slowed down, and the main source of growth in sales of new energy vehicles comes from hybrid models. According to the China Passenger Car Association data, the retail sales of plug-in hybrid models in September were 0.361 million units, a year-on-year increase of 96.7%; extended-range electric vehicle retail sales were 0.117 million units, a year-on-year increase of 89.1%; while pure electric vehicle sales were 0.644 million units, a year-on-year increase of 29.2%.

Sodium-ion batteries land again.

It is worth noting that after a long period of silence, Contemporary Amperex Technology once again achieved the landing of sodium-ion batteries. This time, CAT emphasized the advantages of using sodium-ion batteries in low-temperature conditions.

Gao Huan stated that the technology of Contemporary Amperex Technology's sodium-ion batteries has been applied in the Xiaoyao super plug-in hybrid vehicle, achieving a breakthrough in discharging in extreme cold environments of -40 degrees Celsius, while also ensuring that it can charge in conditions as low as -30 degrees Celsius, and still provide strong power output even at -20 degrees Celsius, "with hardly any difference from our room temperature state."

This is also the second practical application of Contemporary Amperex Technology's sodium-ion batteries. As early as last year, CAT publicly stated that the company's sodium batteries would first be used in Chery models. In the 372nd batch of announcements of the Road Motor Vehicle Production Enterprises and Products issued by the Ministry of Industry and Information Technology in June last year, it already included a Chery new energy model equipped with sodium-ion batteries.

Looking at this year's sales data of models featuring sodium-ion batteries, it is not optimistic. According to the Starting Point Research Institute (SPIR) new energy vehicle installation database, the Chery QQ ice cream car equipped with CAT's 80Ah square sodium battery sold only 86 units from January to July this year.

Industry insiders in the sodium battery sector told Caixin reporters that it is not surprising that Contemporary Amperex Technology's sodium batteries are being used in hybrid vehicles. "Vehicles that do not require such high energy density can pretty much use sodium batteries."

In addition, Caixin reporters noticed that at the beginning of this press conference, Contemporary Amperex Technology's warm-up video first mentioned that sodium-ion batteries, Godsend batteries, Kirin batteries, and solid-state batteries are the company's representative batteries.

Now that sodium-ion batteries have once again been put into use, Godsend batteries and Kirin batteries already account for 30 to 40 percent of the company's product structure, and this may increase to 70 to 80 percent next year.

According to Contemporary Amperex Technology, solid-state batteries will be used in the aviation sector. At the World Power Battery Conference held in September this year, Zeng Yuqun mentioned that an eVTOL equipped with Contemporary Amperex Technology's batteries will have its first flight by the end of 2024.