Mercedes-benz EQA, EQB pure electric SUV equipped with Vounergy power battery, Mercedes-Benz electric flagship brand new EQS (from left to right)
Under the wave of electrification, the products of China's high-quality power battery enterprises are being competed for by the global mainstream car enterprises. A few years ago, Feuneng Signed a 10-year order agreement with Daimler that will exceed 170GWh in total. The company, known for its technical strength as the "soft pack battery unicorn", has become a star power battery enterprise attracting worldwide attention.
In April this year, the mass production ceremony of Mercedes-Benz EVA battery was held in Zhenjiang plant, marking the realization of mass production of the first global pure level platform battery project that is being developed by Mercedes-benz, which is supported by Feuneng Technology. In the 2021 half-year report, Feuneng said that the Daimler project began to supply and realized sales revenue, bringing incremental results for the company. Now the collaboration has gone one step further.
Mercedes-benz prepayment of more than 1 billion yuan forpower Technology
Recently, Fueneng Technology announced that the company and its wholly-owned subsidiary, Fueneng Technology (Zhenjiang) Co., LTD. (hereinafter referred to as "Fueneng Zhenjiang") intends to enter into a Supplementary Agreement to the Multi-Year Supply Agreement with Mercedes-Benz AG (Mercedes-Benz) (hereinafter referred to as the "Supplementary Agreement"). Under the agreement, Mercedes-Benz AG will pay Foeneng Zhenjiang an upfront payment of approximately 1.05 billion yuan.
Meanwhile, in order to ensure the smooth implementation of the Supplementary Agreement, Funeng Zhenjiang plans to sign a Floating Mortgage Agreement with Mercedes-BenzAG to pledge the agreed assets to Mercedes-BenzAG. The mortgaged assets agreed in the Floating Mortgage Agreement include: raw materials, semi-finished products and finished products purchased by Feuneng Zhenjiang on or after the date of signing the Floating Mortgage Agreement with the prepayment to meet the production and delivery requirements of Daimler.
'Mercedes-benz AG is an important partner of the company and the signing of the supplementary agreement and the Floating Mortgage agreement will help the company to strengthen its cash reserves, ensure supply chain stability for Daimler customers and reduce raw material costs, deepen cooperation and improve the company's performance,' fueneng said.
It is reported that Daimler will invest more than 70 billion euros in the next five years to continue accelerating the electrification and digital transformation. According to Mercedes-Benz's "Vision 2039", it plans to make more than 25% of its global sales pure electric models by 2025; By 2030, plug-in hybrid and pure electric models will account for more than 50% of its global sales; By 2039, it aims to make its new passenger vehicle lineup carbon neutral.
Earlier, Feuneng technology and Daimler signed a comprehensive business cooperation agreement, the key elements of which include: development and commercialization of advanced high energy density batteries and cost competitiveness; Technical highlights include a significant increase in driving range through increased energy density and shorter charging time. The agreement will secure the supply of power cells for Mercedes-Benz's electrification strategy, while Fueneng will secure its planned capacity building. Daimler said the partnership would be an important milestone in Mercedes-Benz's commitment to achieving its vision 2039 carbon neutrality goal.
Market insiders believe that high-quality power battery production capacity is the most shortage of resources in the current new energy vehicle industry chain. Traditional European oems have a certain preference for flexible battery. As a leading enterprise of flexible battery supply to Daimler, Fuuneng Technology is not only an affirmation of Fuuneng Technology. Will become its breakthrough European Volkswagen, Peugeot, Renault and many other car enterprises a "stepping-stone".
Battery supporting steady volume
Can get the favor of the world's top car giant Daimler, Fu Neng technology's product technical strength is particularly outstanding. As the "king of soft pack batteries" in China, Feuneng Technology continued to hold the top position of the domestic soft pack battery installed quantity ranking in 2020, and has achieved the "four consecutive titles" of the Chinese market soft pack battery installed quantity ranking first.
It is understood that through years of breakthroughs and innovations in lithium gene and material technology, Fureneng technology has developed and verified a new generation of electric vehicle batteries with an energy density of 330Wh/kg, and the cycle times up to 1500 times, while the technology can still provide 90% of the capacity at minus 20°C temperature. Its technical core advantages, not only reflected in the high energy density, in high power, long life, high and low temperature performance and high temperature storage and other aspects have obvious advantages, can be higher than the existing industry level.
In addition, foeneng technology has also developed a ternary nickel high voltage solution, energy density can reach 285-300Wh/Kg, can solve the long range requirements. At the same time, in order to solve the safety problem of high nickel system and ternary system in the case of large power, The development of semi-solid battery of Feuneng Technology has also entered the industrialization stage.
In order to solve the pain points of slow charging and other industries, the 800VTC overcharge and overvoltage technology platform independently developed by Feunen Technology is the industry's first technology platform that can realize the mass production of 400V and 800V medium and high voltage free switch + fast charging. The platform technology can reach 2.7C charge, and the whole package charge is equivalent to 2.2C; Soc10%-80% charging only takes 15 minutes, which is in the leading level of the industry. The fast charging capacity of the next generation technology can reach SOC10%-80% charging only takes 7 minutes.
It is reported that in addition to the steady volume of supporting batteries for Daimler, Funeng Technology for gaC Aion S upgraded, GAC AionV new, the Great Wall Euler Cat, Renault Jiangling Yi Chi and other mainstream models to provide supporting batteries, also in the second half of the year in succession. Up to now, Foeneng technology has customers all over the world, in addition to Daimler, Beijing Benz, GAC EON, FAW, Geely, Great Wall, Tianji, Dongfeng, Mitsubishi, etc., but also expanding to Volkswagen, Audi, Porsche, GM, Nissan, Honda and other customers.
In order to meet the increasing demand for orders, Feuneng technology is also increasing capacity construction. In August this year, Funeng Technology invested and built a 24GWh battery project in Wuhu, Anhui province. In September, it announced SIRO, a joint venture with TOGG, a Turkish electric vehicle company, to advance into Europe and supply customers in Turkey, Russia, Ukraine, Georgia, north Cyprus and other European, Middle East and African regions.
In addition, Feuneng has set up a joint venture with Geely Technology to expand production capacity. At present, The base in Ganzhou and Zhenjiang is ramping up, and meanwhile actively layout the European and American markets. It is expected that in 2025, the power battery capacity of The company will exceed 120GWh.
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