From knock-off old-man's electric vehicles to industrial giant

Chapter 265 Annual sales of 500,000 units, 50 billion in sales

Xu Yi rarely gave himself a few days off.

The process of Vaillant's IPO and roadshow was incredibly busy, and it was also extremely physically demanding!
Six or seven cities, more than a dozen meetings and seminars, with travel arrangements made by plane and high-speed rail.

He didn't find giving speeches tiring at all; compared to live-streamed press conferences, it felt like child's play to him.

He was a little awkward at first, but gradually became more and more fluent. By the second half, he even seemed to want more. The battery market is huge, from passenger cars to commercial vehicles, from power to energy storage, from applications to battery material recycling. It's a whole ecosystem involving the global energy market... After he finished speaking, the atmosphere and applause were thunderous!
But even an iron man would get numb after giving more than a dozen lectures in a row.

After lying in the villa's king-size bed for three days and taking the time to do several full-body spa treatments, Xu Yi finally felt like he had regained his energy.

Meanwhile, Vaillant Battery's stock price has risen for several days in a row, and both institutional investors and individual shareholders who subscribed to the stock have made a real profit.

Vaillant Battery was originally a battery OEM for Xingchen, and later became a subsidiary of Xingchen Technology. It can provide Xingchen with batteries that are "technologically similar and of consistent quality", and can also sell parts to other car companies as a market entity to expand its market share.

Now that we've secured funding through the IPO, we can expand our business and fully commit to developing our production and R&D strategies.

You can't just take billions of yuan raised and put them into fixed-term wealth management products, can you?
That's outrageous!

-

Xu Yi arrived at the conference room on the third floor of Weineng Company and first held an internal celebration meeting. There were more than 500 people present. Whether they were middle and senior management or key technical personnel, their value had increased, and they could definitely be considered as employees worth millions or tens of millions of yuan.

The interior was filled with a festive atmosphere.

"The company's success today is inseparable from everyone's hard work. The market for energy and batteries still has vast potential. I hope everyone will continue to strive for excellence. As long as you are willing to work hard, you will have ten times, a hundred times more than you do today..."

Xu Yi briefly explained that, whether due to the listing agreement or his own intentions, he would not sell his shares in Weineng Battery. As for the management and middle-level managers, there were internal agreements that stipulated that their existing shares and options could only be sold one year after the company went public.

However, it's unlikely that many people would sell their shares and cash out at this juncture. With orders from external partners and the implementation of new production capacity, the scale of Weineng Battery will expand by at least two or three times over the next year. Once revenue increases, the market value will rise significantly. Only someone who is truly desperate would have the idea of ​​cashing out.

And then the subsequent internal meeting.

Xu Yi then formulated three directions internally.

These are "energy storage battery research and development, battery recycling technology research and development, and lithium resource development patents".

Xingchen Technology's research focuses on exploring cutting-edge technologies and patents in battery energy materials, including novel positive and negative electrode materials, solid-state battery-related patents, electrolyte systems, structural algorithms, etc.

Vaillant Battery's strategy focuses more on commercialization and supply chain collaboration, including energy storage, recycling, and lithium resource development, all aimed at creating a better commercial ecosystem.

"Last year, the cumulative installed capacity of electrochemical energy storage reached approximately 2.1GW, a year-on-year increase of 120%, with lithium batteries accounting for 85%. According to BNEF data, the global installed capacity of electrochemical energy storage is approximately 8.3GW, with lithium-ion batteries accounting for 82%..."

With the rapid maturation of lithium iron phosphate's lifespan and safety, the energy storage market is poised for significant growth.

Xu Yi had his assistant upload a data report on the energy storage market.

Currently, the global energy storage market is still in the commercialization stage.

Lithium iron phosphate batteries have unique advantages in this regard: low cost, long cycle life, safety and stability, high temperature resistance, etc. In the next few years, the energy storage market will be dominated by lithium iron phosphate batteries, accounting for more than 75%.

Given the cost of ternary lithium batteries, no one would actually use them for energy storage projects. They are not stable enough, and if they are damaged or thermally runaway, the speed at which they explode and burn is completely uncontrollable.

"Yes, we have already begun developing dedicated energy storage batteries with a cycle life of over 3000 cycles, in pursuit of lower costs and higher safety..."

Weineng Battery has recruited a new group of R&D backbone personnel, and the person making the comments now is Ge Hongsheng, the director in charge of energy storage battery R&D.

He was originally a research and development member at CATL, engaged in cutting-edge research on lithium iron phosphate. However, CATL clearly did not pay enough attention to the business and research and development of lithium iron phosphate, so he switched jobs half a year ago.

As it turned out, he made the right bet.

Despite joining the company relatively late, I received a stock option grant because I brought my technical skills with me when I moved to another company. As long as the project development and performance targets are met, the company will continue to distribute stock options to the core members who have made contributions.

“In fact, the country is now promoting peak electricity pricing, and factories and commercial users can reduce electricity costs by using energy storage with low charging and high discharging. The demand for energy storage on both the grid side and the user side has increased significantly. Even lithium mining is trying to integrate photovoltaic energy storage to control energy costs and reduce dependence on the grid. By connecting the energy storage link, we will greatly help the future mining of lithium resources,” Ge Hongsheng continued.

Mining and energy storage are like the left foot stepping on the right foot.

Domestic lithium resources are highly concentrated in the western region, which is also a remote area with weak power grids. This results in high power distribution costs and expensive industrial electricity prices. Lithium mining, especially lithium extraction from salt lakes, is a power-intensive industry, where electricity costs can account for 30%-50% of the total mining costs.

This cost saving results in a significant return on investment.

In short, there is considerable enthusiasm for this within the organization.

Whether they supply batteries to car manufacturers, provide energy storage for power grid distribution, or mine and build their own energy storage systems, they see no difference. The energy market is a large whole, and it's a winner-takes-all situation.

The top 5 companies in the industry can occupy more than 70% of the global market share.

Weineng Battery is currently the number one power battery manufacturer in China, and its lithium iron phosphate technology is its specialty. If it really takes over a less than 3GW energy storage market, who can compete with it?
……

Meanwhile, on Xingchen's side, Yu Nian couldn't wait to share the good news with Xu Yi.

Last month, the number of Starry Night L7 deliveries reached 7731 units.

The company's total sales figures for the year have also been released.

The collection includes the Star Mini, Star S7, and Star L7 models... totaling 489565 units!
Annual sales approaching 500,000!
These are all new energy vehicles, and they're practically at a level that's impossible to look at on the new energy vehicle sales charts!

Although over 300,000 of them were supported by Star Mini, it is still an extremely outrageous figure.

Adding the annual sales of the Luzhou Old Man's Car, it's enough to break the 800,000 unit mark.

Cumulative sales exceeding 500 billion!

(End of this chapter)