Research and analysis of Chinese lithium-ion battery manufacturers: CALB (China Aviation Lithium Battery Technology)
Company Description: CALB is a relatively new battery manufacturer founded in 2015 and based in Jiangsu, China.The company name is also abbreviated as “China Aerospace Power Company” and originally started as an affiliate of China Aviation Industry Group.
With rapid growth, the company emerged in the 2020s and is now China’s third largest automotive battery manufacturer after CATL and BYD.
By 2023, CALB will have approximately 4.5% of the global EV battery market share and will rank third in China with a market share of 6-7%.
CALB will go public in Hong Kong in 2022, and is aggressively expanding its factory and overseas operations with the proceeds from the IPO.
Main products and applications: CALB’s main products are power cells and battery packs for passenger cars.
CALB’s strength lies in its high energy density products in the form of rectangular three-way (NCM) battery cells, and it supplies high capacity batteries for high performance electric vehicles.
We also develop and manufacture lithium iron phosphate (LFP) batteries for cost-conscious mainstream models.
CALB also has proprietary technologies in battery pack design, and has introduced pack technologies that combine energy density and safety, such as the “U-shaped battery” structure.
The main application is for passenger car EVs, but CALB is also starting to provide batteries for some commercial vehicle, bus and energy storage projects.
Key customers and partners: CALB’s batteries are used by several complete vehicle manufacturers in China.
Major customers include emerging EV manufacturers NIO, Xpeng, Li Auto, Hozon and Leapmotor.
We also supply batteries to automakers such as Changan Automobile, Guangqi Aion and Geely Automobile.
In particular, we have had an early business relationship with Guangqi Aion, and as of 2022, about half of our CALB shipments were to Guangqi, but the percentage of shipments to other companies has been increasing in recent years.
Overseas, CALB cells are beginning to be used in bus and truck applications through partnerships with Forsee Power, a European bus battery manufacturer, and BMZ of Germany.
We have also partnered with Clarios (the largest manufacturer of lead-acid automotive batteries) to cooperate in the field of 12V lithium-ion automotive batteries.
Recent Developments: CALB is rapidly expanding its domestic production capacity and accelerating its overseas expansion.
In Europe, CALB has signed an agreement with the Portuguese government to build a plant in 2022 and is in the process of establishing its first overseas production facility.
We also plan to expand into Southeast Asia and North America.
On the technology side, we are working on next-generation batteries, including the development of a new cell with an energy density of over 300Wh/kg and participation in an all-solid-state battery consortium.
In terms of business performance, sales and profits are growing rapidly with the expansion of the EV market, and there are reports that net income is expected to nearly double by 2024.
Despite fierce competition, including a patent infringement lawsuit from CATL, CALB aims to expand its market share as a “challenger”.
Translated with DeepL.com (free version)
