Post on 25-Jul-2020
BOSTON-POWER
LITHIUM-ION BATTERY
SOLUTIONS
BENCHMARK WORLD TOUR 2017 TORONTO APRIL 24, 2017
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BOSTON-POWER
MARKETS
MISSION Provide Next-Gen Li-Ion Batteries Enabling Enhanced Mobility and
Environmental Sustainability
KEY
MARKETS
China EV Passenger (Eco-EV), Commercial (eTruck) / Fleet (eTaxi) Vehicles
Global EV and ESS EV: Construction, Mining, Fleet Vehicles, Personal Vehicles
ESS: Renewable Energy Storage Systems (Residential, C&I)
FACTS
Founded 2005 – Private
Key Investors: GSR, Oak, FAM
Fully owned manufacturing plant in Liyang, China
100+ patents issued; >200 patent filings
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BEIJING Pack Design. Center CHINA Manufacturing BOSTON R&D Center
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Global demand increasing
China leading growth
Forecasts more aggressive
OPPORTUNITY: SURGING BATTERY DEMAND FOR EV
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KEY MARKET CHINA: BY 2020, 100GWH AND $18B
80
1,413
4,184
101,406
0
50,000
100,000
150,000
200,000
250,000
0
500
1000
1500
2000
2500
3000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
电动汽车年销量预测
电池需求
Source: MIIT China, 2015 EV Sales Volume
EV Battery Demand
000 Units
Sales Vol. 80 347 491 643 842 1,122 1,413 1,628 1,974 2,462
MWh Battery 4,184 10,782 28,673 48,280 67,367 83,136 101,406 124,400 150,463 197,451
Thousand Units
(MWh)
Growth 1H15
3X 5X
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KEY CHALLENGE: SUPPLY
2009-2012 2013-2015 2016-2020
<1 GWh = <1 Factory 10 GWh = 10 Factories 100 GWh = 100
Factories
Need to satisfy huge battery
production demand!
Estimated Market Demand for EV Batteries in China
5
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BOSTON-POWER SOLUTIONS
CELLS Industry leading LONG LIFE with HIGH
ENERGY DENSITY, WIDE TEMPERATURE
RANGE, and FAST CHARGE
MODULES
PACKS
Packaging with NO CELL WELDING and
ADVANCED SAFETY features. Quickly and
easily integrating Boston-Power cells into
large format modules
Customized FULL EV PACK SOLUTIONS
delivered to Automobile manufacturer
requirements (China focused)
Swing and Sonata Cells
Ensemble ™ Module System
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Custom Module and Pack Solutions
Boston-Power
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Long Cycle Life + High Energy Density
+ Fast Charging
+ Low Temperature Operation
Delivering Long Life
While Maintaining High
Performance
+ Calendar Life
Boston-Power
Competitors
BOSTON-POWER CELL DIFFERENTIATION
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EXPANDING PRODUCTION TO SERVE GROWING MARKET
ESTABLISHED Annual Capacity
• Cell: 300 MWh in Liyang, China in 2013
• Pack: 24,000 packs in Liyang, China in 2016
EXPANSION
• Cell: 4+ GWh at existing Liyang site by 2018-2019
• Cell: 4+ GWh 2nd China site starting 2019
• Pack: 42,000 packs at existing Liyang site by 2018
• Pack: 20,000 packs at 2nd China site starting 2018 (co-located with customer)
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BOSTON-POWER APPLICATION AREAS
On-Road EV
• Passenger EV / Fleet Vehicles
• Eco-EV / LSEV / Urban
Transport
• eBus
• eVan / eTruck
• eScooter, eBike
Off-Road EV
• Logistics / Fork lifts
• Construction & Mining
Stationary / Industrial
• Renewable Energy Storage
• Auxiliary Power Units (APU)
• Industrial Lighting
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THE ECO-EV SOLUTION
• Eco-EV is a key focus for Boston-Power
• Established market in China; originally powered by Pb-acid
– Eco-EVs allow vehicle access to rising income earners
– Many customers are first time vehicle owners that upgrade from
Bike/Scooter
• Subsidies drive demand and force change to Li-ion
• >300,000 unit sales in 2015 (Li-ion + Pb-acid)
ECO-EV MARKET OPPORTUNITY
4M units annually
80 GWh
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E-TAXI FLEETS
Battery Technical Features
Base Block / Module Swing Key 442
Configuration 16p94s
# of Cells / Vehicle 1,786
Nominal Voltage 343 V
Installed Energy 29 kWh
Installed Capacity 84 Ah
Thermal Management Passive
Weight 322 kg
Energy Density 90 Wh/kg
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• E-Taxi demonstration fleets using Boston-Power
batteries on road and under evaluation
• Opportunity to evaluate high stress user
– Vocal feedback on ability of vehicle to meet user needs
• Fast charge a key demand
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90 kWh UTILITY VAN
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• Multi-use vehicle targeted at businesses and fleets
• Boston-Power Ensemble packaging enables
vehicle to meet requirements
– Flexible layout fits more energy into vehicle, enabling
400 km drive distance
– Reliable, low-cost design easily scales for volume
production
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KEY MATERIAL QUESTIONS FOR CONSIDERATION
What do battery manufacturers want from their raw material suppliers
How long is the qualification process for new material
What cathode chemistry will dominate EV? - NCA / NCM / LFP
How easy is it to switch chemistries in the same process
What happens to the battery after EV
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KEY RAW MATERIAL NEEDS
• Material consistency – Small chemistry variations can have large impact to battery performance
– Physical variations can cause manufacturing challenges and increase cost
• Cost down roadmap – market direction is clear – Battery price to OEM: $100/kWh cell, $125/kWh pack
• Clear supply chain and volume consistent with demand – Most cell manufacturers do not use raw materials directly and buy from an intermediary
material supplier
– Every 1 Million EV require about 40 GWh of batteries or roughly:
• 75k tonnes cathode (LiMO2)
• 45k tonnes anode (graphite)
• Advantage if new materials are battery tested before evaluation by battery
manufacturers – Develop in-house capability or work with qualified intermediary
– Lowers risk/cost to battery manufacturer
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TYPICAL NEW MATERIAL EVALUATION PLAN (FOR EXISTING CELL PRODUCT)
Product Level Evaluation
(Pilot/Factory Trials)
• 50 kg • 100s-1000s cells • 3 separate lots • Commercial products
only
Full Production Qualification
(Factory Trials)
• >1000s cells • 1 Lot • Full Product and
Production Process Validation
1 – 3 Months 3 Months 3 – 6 Months
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Material Evaluation (Laboratory Trials)
• 1 kg (anode/cathode) • Rigorous evaluation • 3 separate lots • Pre-production lots OK
but not preferred
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QTDC SUPPLIER EVALUATION PROCESS
Quality
Technology
Delivery
Cost
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NI-BASED CATHODES WILL DOMINATE EV
• 2016: 27% growth in cathode shipment
• NCA: Strong growth in Panasonic/Tesla
– Slower growth elsewhere
• LFP: Strong growth in China
– Dominates bus market
– More competitive in applications where
power/energy ratio is high
– Future limited in full EV
• NCM: Production growing and expected
to dominated EV in coming years
– Trend towards high Ni content
materials
– 111 and 523 dominate today; 622
growing; 811 seen as future solution
• High energy dominates over high power
capability when selecting cathodes for
EV
• Blended chemistry formulations likely –
secret sauce of cell manufacturers
– State-of-the-art facilities will be able to
handle all chemistry options
Abbreviation Chemical Name – Formula
LCO Lithium Cobalt Oxide – LiCoO2
LMO Lithium Manganese (Spinel) Oxide – LiMn2O4
LFP Lithium Iron Phosphate – LiFePO4
NCA Lithium Nickel Cobalt Aluminum Oxide –
LiNi0.8Co0.15Al0.05O2
NCM Lithium Nickel Cobalt Manganese Oxide
NCM 111 LiNi0.33Co0.33Mn0.33O2
NCM 523 LiNi0.5Co0.2Mn0.3O2
NCM 622 LiNi0.6Co0.2Mn0.2O2
NCM 811 LiNi0.8Co0.1Mn0.1O2
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Pulead, 34th International Battery
Seminar March 20-23, 2017
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CHALLENGES FOR CELL MANUFACTURERS
• How to effectively dual source
key materials
– Anode, cathode and separator
– Small source differences can
significantly impact cost/performance
• Increased scrutiny on raw
materials
– How to ensure missions of
environmental sustainability and
corporate responsibility
Washington Post,
September 30, 2016
Varying Cycle Life
Performance Due to
Separator from 3
Different Suppliers
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WHAT HAPPENS TO BATTERY AFTER EV?
• 2nd Life Opportunities
– Can EV batteries support second use markets
such as utility storage applications?
– Opportunity to lower up front cost
– Many studies underway but no validated
business models to-date
• End-of-life
– Cost/Value of recycling?
– Expect recycling to be mandated back to battery
manufacturers, either directly or via OEMs
– Today, this adds cost -> can this become a way
to reduce cost in the future by recovering and
using a significant part of the materials?
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EV ALIGNED WITH FUTURE VEHICLE TRENDS
• Ride Hailing and Car Sharing Services
– Value in maximizing car usage through
multiple users / multiple drivers
– Expect increasing market as vehicle
ownership declines
– EV value in reducing fuel costs (vehicles
have high daily drive distance)
– Timeframe = Now
• Autonomous Vehicles
– Value in further increasing vehicle
utilization
– Market preference vs. “operated” vehicles
– Clear designer preference for EV – ease of
control vs. ICE vehicle
– Timeframe = 5-10 years (high
development activity now)
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THANK YOU
RICK CHAMBERLAIN
rchamberlain@boston-power.com