Analysis of investment opportunities in the new energy vehicle chain

Under the banner of energy conservation and environmental protection, new energy vehicles have become a national strategy in my country. China's dependence on foreign oil is as high as over 50%, and over 30% of oil is consumed by cars. The increasing pressure on energy and environment has made the development of new energy vehicles inevitable for the development of the industry, and also provided the possibility for my country's automobile industry to overtake others.

The new energy vehicle industry is still in its early stages of development, and has a broad future. The new energy vehicle industry is in its early stages, as reflected in battery technology, development path, target customers, and sales. First, there are disputes over battery technology. Power batteries in Japan and South Korea are mainly manganese-lithium ternary material batteries, while domestic batteries are mainly lithium iron phosphate batteries. New materials such as sulfur lithium and titanium lithium are under continuous research and development. Second, there are disputes over development paths. my country hopes to skip hybrid and directly enter the electric era, so the policy is mainly to support electric vehicles. In the US market, where new energy vehicles have the largest sales, hybrid and electric vehicle sales each account for half. Third, there are disputes over target customers.

In the United States, high-priced cars led by Tesla have become fashionable among the wealthy, while in China, cars led by BYD serve the general public. Fourth, domestic sales last year were only at the level of 10,000 vehicles, and the sales of electric vehicles in the United States accounted for only about 3% (including hybrid vehicles).

New energy vehicles have been supported by policies continuously, and have received extensive attention from research and development to the market. With technological progress and the continuous decline in costs, the batteries of three years ago are incomparable with the current batteries in terms of technical indicators and prices. Taking lithium iron phosphate batteries as an example, the cost has dropped by 40%, and it is foreseeable that the new energy vehicle market will enter an era of high growth.

Investment opportunities in the new energy vehicle industry chain. The value chain of the new energy vehicle industry will revolve around the core battery business, and extend upward to the upstream resource (lithium, nickel, rare earth) field, lithium battery manufacturing, charging stations and facilities, electrical systems (drive motors, control systems), and downward to complete vehicles (passenger cars, buses).