Chinese energy storage solution provider JEVE held its “JEVE Day 2022” in Jiaxing, a city in China’s Zhejiang Province, on August 12. At the event, the company announced a new growth strategy with the objectives of obtaining a total production capacity of 100GWh per year for NEV power batteries by 2025 and attaining “zero defect” for all products delivered to its clients.
At the event, JEVE also signed a multi-party strategic cooperation agreement with the major players in the Li-ion battery supply chain. They included Reshine New Material, Kaijin, Easpring, Smooth Way, Wanrun New Energy, Senior, Jiabaida Electronics Technology, Cnano Technology, Xinlun, and Xingheng New Material Technology. According to JEVE, the multi-party strategy cooperation will support the implementation of its growth strategy.
Established in 2009 and headquartered in Tianjin, JEVE develops, manufactures, and sells a type of soft-pack battery cell that can be used in the battery system of an NEV. The company offers battery cells, battery packs, battery management systems, and whole battery systems. In terms of capabilities, the company can do R&D, simulations, manufacturing for all of the above-mentioned products. As for application markets, the company is currently targeting battery-electric vehicles, plug-in hybrid electric vehicles, hybrid electric vehicles (with a 48V battery system), and LTO batteries. Regarding production capacity, JEVE has established six major manufacturing bases respectively located in Tianjin, Yancheng, Jiaxing, Changxing, Chuzhou, and Wuhan.
The Tianjin base is in full operation and has a production capacity of 1.5GWh per year. The Yancheng base is in development. The first phase of the base already entered operation in July 2019 and has a production capacity of 2.5GWh per year. The second phase of the base is expected to enter operation in the third quarter of 2022, and its production capacity is set at 4GWh per year. Turning to the Jiaxing base, JEVE set up a pilot production line there. The pilot production line entered operation in the first quarter of 2021 and has a production capacity of 0.3GWh per year.
As for the Chuzhou base, JEVE signed a strategic cooperation agreement with the government of Tianchang, which is a part of Chuzhou, in February this year. Under the agreement, JEVE will establish a battery manufacturing base with a production capacity of 20GWh per year. The base will manufacture LFP batteries and products related to ternary battery materials. The base is scheduled to enter operation by the end of 2023.
Also, this June, JEVE inked an investment deal with the government of Jiangxia District and Changjiang River Industrial Investment Group. Jiangxia is part of Wuhan, where JEVE will be building a new battery production base. According to the deal, JEVE will establish a battery production base in Wuhan’s Wulijie Industrial Park. The base will comprise two phases or standard production lines. The first phase will have a production capacity of 20GWh per year, whereas the second phase will have a production capacity of 10GWh per year.
Lastly, the Changxin base is currently under construction. The total investment in this project comes to around RMB 6.7 billion. The base will span an area of around 451 mu and will be used to manufacture products related to both electric mobility and energy storage. Once up and running, the base can ramp up 18GWh per year. JEVE plans to have the base enter operation at the start of 2023.
In terms of product development, JEVE has completed the basic certification process for its LMFP battery. The first-generation semi-solid-state battery has an energy density of 300Wh per kg and passed the 3mm nail penetration test. With the completion of the basic certification process, the product is ready for mass production. Also, the next-generation semi-solid-state battery that JEVE is developing is expected to achieve 360Wh per kg.
On the subject of client base, JEVE formed and strengthened its relationships with Chinese car manufacturers such as Great Wall Motor, Hozon, and Chery during 2021. They are considered to be the company’s major clients. Furthermore, JEVE has also secured either one-time or mass production orders from SAIC Motor, Geely CV, WM Motor Technology, Dongfeng Motor, and Dongfeng Yueda Kia Motor.
In February this year, JEVE and Chery signed a supply and in-depth collaboration agreement in Wuhu, a city in China’s Anhui Province. Chery will procure RMB 5 billion worth of NEV batteries from JEVE over the next three years.
In aspect of financial performance, JEVE’s annual revenue grew massively by 91% year on year to surpass RMB 1.1 billion for 2021. JEVE’s vehicle battery installations also rose by more than 155% year on year for the same year. The company were among China’s top ten domestic suppliers for NEV power batteries for several months. Between January and July this year, JEVE’s vehicle battery installation came to 1.07GWh. The company is now 12th in the ranking of domestic suppliers for NEV power batteries by vehicle battery installation.
TrendForce has observed that besides JEVE, other Chinese battery suppliers such as CALB and SVOLT have set an ambitious production capacity target for 2025. CALB aims to exceed 500GWh per year by 2025. As for SVOLT, it plans to control 600GWh per year by 2025.
CATL, which is the leader in NEV power batteries, has yet to formally announce its capacity expansion goal. However, the company unveiled its second battery manufacturing project in Europe on August 12, the same day that JEVE disclosed its growth strategy. This new European project will add another 100GWh per year. Based on the latest reports from various sources, CATL’s operating production capacity and production capacity in development came to 170GWh per year and 140GWh per year respectively at the end of 2021.
This article is a translation of a Chinese article posted by Martin at TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.
(Source: JEVE)