Yang Hongxin, Chairman and CEO of Changzhou-based battery firm SVOLT, provided details to the media on September 1 regarding the latest business progress of the company. The executive revealed that JiDU, XPeng and other brands will use SVOLT’s short blade battery in their products.
In terms of production capacity, SVOLT’s base in Changzhou, a city in eastern China’s Jiangsu Province, will reach 60GWh, and four domestic factories have been put into production this year. In terms of supply chains, Yang revealed that lithium ore and lithium salts are the materials most lacking at present, and that many ores have been bought by Japanese and Korean enterprises, so China must speed up to meet domestic need. According to Yang’s judgment, the supply of lithium ore will remain very tight in the next five years.
SVOLT, established in 2018, has gained a firm foothold in the domestic power battery market. According to data from the China Automotive Battery Innovation Alliance, SVOLT ranked sixth in terms of the loading capacity of domestic power battery enterprises from January to July this year.
Earlier on August 28, Yang predicted at the 4th World New Energy Vehicles Congress (WNEVC) that the cobalt-free battery market will account for more than 70% of the distribution of lithium battery products in the future. SVOLT has launched the world’s first mass-produced cobalt-free battery, which will be loaded and put on the market in batches on ORA Flashcat and other models owned by Great Wall Motor. SVOLT also says it will launch its second generation of layered cobalt-free batteries in 2023. The estimated cost is close to that of lithium iron phosphate batteries, and the battery life can reach 800 km.
In terms of lithium iron phosphate layout, mass-produced L600 lithium iron phosphate short-blade batteries meet the demand range of 50100 kWh, and can be used in both energy storage and light power markets. Yang said that in 2023, Honeycomb Energy will launch a new lithium iron short blade battery with an energy density of 195Wh/kg and a battery life of 700 km.
SVOLT Cloud, a battery monitoring system developed and launched by SVOLT, has been connected to more than 370,000 monitoring vehicles, with accumulated data analysis of more than 59 billion pieces, with an accuracy rate of over 96%, realizing predictable early warning.