BOSTON-POWER LITHIUM-ION BATTERY SOLUTIONS BENCHMARK WORLD TOUR 2017 TORONTO APRIL 24, 2017

Transcription

1 BOSTON-POWER LITHIUM-ION BATTERY SOLUTIONS BENCHMARK WORLD TOUR 2017 TORONTO APRIL 24, 2017

2 BOSTON-POWER MISSION Provide Next-Gen Li-Ion Batteries Enabling Enhanced Mobility and Environmental Sustainability China EV Passenger (Eco-EV), Commercial (etruck) / Fleet (etaxi) Vehicles KEY MARKETS Global EV and ESS MARKETS 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 BOSTON R&D Center BEIJING Pack Design. Center CHINA Manufacturing 2

3 OPPORTUNITY: SURGING BATTERY DEMAND FOR EV Global demand increasing China leading growth Forecasts more aggressive 3

4 KEY MARKET CHINA: BY 2020, 100GWH AND $18B Thousand Units 3000 Growth 1H15 Source: MIIT China, 2015 电动汽车年销量预测 EV Sales Volume 250, X 5X 电池需求 EV Battery Demand 200, , ,406 1, , , Units 80 4, Sales Vol ,122 1,413 1,628 1,974 2,462 0 (MWh) MWh Battery 4,184 10,782 28,673 48,280 67,367 83, , , , ,451 4

5 KEY CHALLENGE: SUPPLY Estimated Market Demand for EV Batteries in China <1 GWh = <1 Factory 10 GWh = 10 Factories 100 GWh = 100 Factories Need to satisfy huge battery production demand! 5

6 BOSTON-POWER SOLUTIONS Boston-Power CELLS Industry leading LONG LIFE with HIGH ENERGY DENSITY, WIDE TEMPERATURE RANGE, and FAST CHARGE Swing and Sonata Cells MODULES Packaging with NO CELL WELDING and ADVANCED SAFETY features. Quickly and easily integrating Boston-Power cells into large format modules Ensemble Module System PACKS Customized FULL EV PACK SOLUTIONS delivered to Automobile manufacturer requirements (China focused) Custom Module and Pack Solutions 6

7 BOSTON-POWER CELL DIFFERENTIATION Long Cycle Life Boston-Power + High Energy Density + Low Temperature Operation Competitors Delivering Long Life While Maintaining High Performance + Fast Charging + Calendar Life 7

8 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 Cell: 4+ GWh 2 nd China site starting 2019 Pack: 42,000 packs at existing Liyang site by 2018 Pack: 20,000 packs at 2 nd China site starting 2018 (co-located with customer) 8

9 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 9

10 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 10

11 E-TAXI FLEETS 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 Battery Technical Features Base Block / Module Swing Key 442 Configuration 16p94s # of Cells / Vehicle 1,786 Nominal Voltage Installed Energy Installed Capacity Thermal Management Weight Energy Density 343 V 29 kwh 84 Ah Passive 322 kg 90 Wh/kg 11

12 90 kwh UTILITY VAN 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 12

13 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 13

14 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 (LiMO 2 ) 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 14

15 TYPICAL NEW MATERIAL EVALUATION PLAN (FOR EXISTING CELL PRODUCT) 1 3 Months 3 Months 3 6 Months Material Evaluation (Laboratory Trials) 1 kg (anode/cathode) Rigorous evaluation 3 separate lots Pre-production lots OK but not preferred 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 15

16 QTDC SUPPLIER EVALUATION PROCESS Quality Technology Delivery Cost 16

17 NI-BASED CATHODES WILL DOMINATE EV Pulead, 34 th International Battery Seminar March 20-23, : 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 LiCoO 2 LMO Lithium Manganese (Spinel) Oxide LiMn 2 O 4 LFP Lithium Iron Phosphate LiFePO 4 NCA NCM Lithium Nickel Cobalt Aluminum Oxide LiNi 0.8 Co 0.15 Al 0.05 O 2 Lithium Nickel Cobalt Manganese Oxide NCM 111 LiNi 0.33 Co 0.33 Mn 0.33 O 2 NCM 523 LiNi 0.5 Co 0.2 Mn 0.3 O 2 NCM 622 LiNi 0.6 Co 0.2 Mn 0.2 O 2 NCM 811 LiNi 0.8 Co 0.1 Mn 0.1 O 2 17

18 CHALLENGES FOR CELL MANUFACTURERS How to effectively dual source key materials Anode, cathode and separator Small source differences can significantly impact cost/performance Varying Cycle Life Performance Due to Separator from 3 Different Suppliers Increased scrutiny on raw materials How to ensure missions of environmental sustainability and corporate responsibility Washington Post, September 30,

19 WHAT HAPPENS TO BATTERY AFTER EV? 2 nd 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? 19

20 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) 20

21 THANK YOU RICK CHAMBERLAIN