What has Geely done to lay out the power battery industry?
With the rapid development of new energy vehicles in recent years, the field of power battery, which is closely related to new energy vehicles, is becoming hot year by year. At present, a lot of battery companies have invested in car R & D, which is the hot spot for many companies. For example, BYD's blade type lithium iron phosphate battery and GAC EA's cartridge type lithium-ion battery have just been developed. Besides BYD and GAC, Geely is also accelerating its layout in the battery industry chain.As the most expensive part of electric vehicles, power battery is an industry that car companies always want to control. Geely recently signed an investment cooperation agreement with Ganzhou Municipal People's government and Ganzhou Economic Development Zone Management Committee. Geely Technology Group will invest 30 billion yuan in Ganzhou Economic Development Zone to build a 42gwh power battery project by stages.
Before its founding in Ganzhou, Geely also had a layout in terms of power batteries. At present, Geely has two power battery companies, namely, Verizon electric vehicle technology (Suzhou) and Verizon electric vehicle technology (Ningbo). Previously, Geely's Borui model was a battery pack provided by veritas.
In addition, Geely also early involved in the cell industry. Hongqiao group, which is controlled by Geely, acquired shares of Kairong investment, thus indirectly controlling Shandong HengYuan, which once provided batteries for Kangdi and Zhidou. Later, with the continuous development of electric vehicle industry, Zhejiang Hengyuan new energy and Hubei Geely Hengyuan were established one after another.
During this period, Geely wholly acquired the right to use the intellectual property rights of all production equipment and manufacturing technology of LG Nanjing factory in 2017, and the two sides established follow-up cooperation. LG will help Geely Group's high-end brands (including Volvo) continue to upgrade battery technology.
In 2018, Geely also announced that its subsidiary Zhejiang Jirun and Ningde times will set up a new joint venture company to make efforts in the R & D, manufacturing and sales of cells, battery modules and battery packs. In 2019, Gilley subsidiary Shanghai Huapu Guorun will establish a joint venture with LG Chemical, which will also be engaged in power battery related industries. In 2020, Geely will complete the indirect holding of Funeng technology through Chongqing jianghehui.
So far, Geely Automobile has established joint ventures with four battery enterprises, namely Ningde times, Funeng technology, LG Chemical and Hongqiao group. It has battery suppliers such as Hengyuan new energy and Weirui electric, and has established cooperative relations with battery manufacturers such as AVIC lithium, Tafel and Yiwei lithium.
In the field of battery recycling, Geely indirectly controls Yangguang Mingdao Energy Technology Co., Ltd. and has established Fujian Changqing with Shanshan Co., Ltd. and Zijin Mining Co., Ltd. the business scope of these two companies respectively involves battery recycling, battery leasing, etc. It can be said that at present, Geely's layout in the battery field is very large and more perfect.