[[TitleIndustry]]

Ningde era will become a Porsche battery supplier

Date:Oct 28, 2019

According to Michael Steiner, head of research and development at Porsche, there are good negotiations between Porsche and Ningde, and he admits that he regularly meets with the management of Ningde. Following BMW, Hyundai, Volkswagen, Toyota and Volvo, luxury car Porsche may also become a customer of the Ningde era.


Foreign media reported that according to Porsche research and development director Michael Steiner, Porsche and Ningde era are conducting good negotiations, and he also admitted that he regularly met with Ningde era management. Although Porsche's parent company, Volkswagen, has chosen the Ningde era as one of its power battery suppliers, Porsche has not yet announced whether it will expand its battery supplier list, increasing the Ningde era or completely changing the supply to Ningde era. The first pure electric production car, Taycan, recently released by Porsche, is a lithium battery produced by LG Chemicals of South Korea. However, the report said that Porsche hopes to obtain a 10% purchase tax exemption in China next year, which is the same as the tax exemption policy that the Tesla brand has obtained, and the cooperation between Porsche and Ningde era helps to achieve this goal. It is worth noting that foreign media reported that Porsche sister brand Audi is in talks with BYD about battery supply. People familiar with the matter said that the negotiations between Audi and BYD have entered a later stage. BYD's power battery will be used in PPE platform models, and the first models are expected to be available around 2021. The PPE platform was jointly developed by Audi and Porsche and is mainly used to develop high-end electric vehicles. Informed sources also said that Audi and BYD also discussed the possibility of deepening cooperation, including the establishment of a joint venture or the acquisition of shares in the BYD Battery Division.


It can be seen that there is a great possibility of supplying Porsche in the Ningde era, which will help to further enhance its market competitiveness.


In the past few years, the market share of the power battery in the Ningde era has been continuously improved. It has become the world's largest supplier of power batteries, and customers include first-line OEMs at home and abroad. At present, Ningde era is building a large-scale power battery factory in Europe, providing support for European customers such as Volkswagen, BMW and Mercedes-Benz. The 2019 semi-annual report released by Ningde Times shows that the company's total operating income was 20.264 billion yuan, a year-on-year increase of 116.50%, and the net profit attributable to shareholders of listed companies was 2.102 billion yuan, an increase of 130.79%. Among them, the sales revenue of power battery system reached 16.692 billion yuan, up 135.01% year-on-year, accounting for 83% of the company's total revenue; lithium battery material sales revenue was 2.309 billion yuan, up 32.14% year-on-year; energy storage system sales income was 240 million yuan, The growth is as high as 369.55%.


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