The money shortage forced the industry to reshuffle: 80% of power battery companies will be eliminated?

[Media view] The money shortage forced the industry to reshuffle: 80% of power battery companies will be eliminated?

From the structural overcapacity to the lack of cash flow, to the suspension of production, the power battery is experiencing a new round of reshuffle.

Previously, the power battery industry was in the carnival of the Ningde era lightning IPO, but with the leading company's Ningde era listed after the first down limit, BYD's share price fell, Watmar was in deep debt crisis, the entire power battery industry problem Gradually exposed, cast a shadow of "money shortage."

On August 2, lion technology exposed its cash flow, and a number of power battery companies such as Miaosheng and Zhihang suffered production stoppages.

After the new subsidy policy was put on the ground, the shortcomings of the former thermal and subsidized power battery companies with weak technical capabilities were exposed. The current battery could not meet the energy density requirements and could only idle the production line.

The data shows that China's power battery supporting enterprises have dropped from about 150 in 2015 to around 100 in 2017, and one-third of the companies have been eliminated. In the future, more companies will be cleaned up.

80% of power battery companies will be eliminated?

"This is faster than expected. After the subsidy declines, some speculative companies will bear the brunt." On August 3, Wang Binggang, a well-known expert on China's new energy vehicles, said in an interview that "the blind investment is serious, and the outstanding performance is the battery. Now It seems that most power companies will withdraw. The battery is not a simple imitation, but has the ability to develop technology. If there is no scale and capability, quality management can't do well."

Wang Binggang also said that in the past, no matter whether the battery company did not ship, it could make money. "China's subsidies for new energy vehicles are the biggest. Although the market is stimulated, the side effect is that there will be many speculative companies."

Fang Jianhua believes that in the past few years, the power battery companies that supply logistics vehicles are mainly supplying operators. "When the state wants to prevent fraud, adjust the after-liquidation, the OEMs can't get subsidies, the upstream and downstream suppliers' accounts are lengthened, and the next home can't pay the goods. In fact, this is very abnormal in the field of special vehicles."

"Sometimes some battery companies, who made a little money, wanted to do the whole car. Both Watmarma and Yinlong had this problem. The companies that do commercial vehicles want to make passenger cars. But the capital and technology are limited. Without focusing on one area, companies are prone to collapse and accelerate failure," said a power battery expert.

Chen Qingtai, chairman of the China Electric Vehicle Hundred People's Association, said that the number of power battery supporting companies has been reduced from 150 in 2016 to less than 100 in 2017.

"After the development of the industry, in fact, the products in the automobile industry chain are very typical market competition products, and cannot rely on subsidies. The future enterprise orders will be concentrated to the enterprise battery enterprises with scale effect and technology research and development strength, leading enterprises The advantages will be bigger and bigger, I am afraid that there will be only a few companies left in the future." Wang Binggang stressed.

“The industry reshuffle has begun, and most unknown companies will fall down first. By 2020, all power battery companies will still have 20-30, and more than 80% of them will be eliminated at this stage. Some are naturally eliminated, some Killed by capital." Fang Jianhua said.

At this stage, every battery company with different cash flow problems has different coping strategies. The battery companies that have the parent company to continue the blood transfusion support will not be affected too much. The battery companies that have no blood transfusion can only stop production and wait for customers to return. paragraph.

In addition, capital also sprouted back. Just recently, Nissan Motor Co., Ltd. announced that it has stopped selling 51% of its battery company AESC to China Jinshajiang Venture Capital Fund. The reason is that Jinshajiang Venture Capital notified Nissan that it lacked acquisition funds and could not complete the transaction before the June 29 deadline. .

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