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Semiconductor Industry Network News: According to reports, Xiaopeng G9 will start pre-orders in August and officially launch in September. One of the highlights of this car is the use of 800V SiC (silicon carbide) high-voltage electric drive platform, which can achieve 95% high-efficiency output, increase the comprehensive cruising range by 5%+, and greatly increase the efficiency of energy supplementation, and can last for 5 minutes after charging. 200 km can be added.

Xpeng G9 is equipped with XPower 3.0 power system, which is the first mass-produced car based on 800V high-voltage SiC platform in China. It has a 48-hour IP68-rated battery pack and an intelligent high-voltage protection system, which further improves its safety. In the future, the Xiaopeng G9 can be charged for 5 minutes in an overcharged state and have a range of 200 kilometers, which is a very big breakthrough among many new energy vehicles.

It is understood that the Xiaopeng 800V high-voltage platform has achieved both high voltage and high current: in terms of current, the peak charging current can reach 600+A; in terms of voltage, Xiaopeng has reached 800V, far exceeding the industry average. Another core technology of the 800V high-voltage SiC platform is the latest generation of power electronics technology - silicon carbide devices. Xiaopeng's new car G9 will be equipped with an 800V high-voltage SiC platform. According to officials, the overall efficiency of the electric drive has increased by more than 2%. From the user's point of view, it is mainly reflected in increasing the cruising range and saving space in the car.

Guolian Securities pointed out that high-voltage fast charging can effectively solve the problems of mileage anxiety and fast charging of electric vehicles, and has become a new trend in the evolution of energy supplementation technology in the future. The corresponding 800V high-voltage platform models and high-voltage and high-power supercharging networks are in the stage of accelerated deployment. Relevant targets: Xinrui Technology (300745.SZ), Founder Motor (002196.SZ), Jintian Co., Ltd. (601609.SH), Lanhai Huateng (300484.SZ), Yonggui Electric (300351.SZ).

On July 11, data from the China Electric Vehicle Charging Infrastructure Promotion Alliance showed that in the first half of 2022, the increase in China's domestic charging infrastructure was 1.301 million units, of which the increase in public charging piles increased by 228.4% year-on-year; The increment of piles continued to rise, up 511.3% year-on-year. As of June 2022, the cumulative number of charging infrastructure nationwide was 3.918 million units, a year-on-year increase of 101.2%.

Since the beginning of this year, there has been continuous good news in the field of charging piles. On March 22, the National Development and Reform Commission and the National Energy Administration issued the "14th Five-Year Plan for Modern Energy System" to comprehensively promote the coordinated development of vehicle piles. On April 27, Yunnan Province released the "14th Five-Year Plan for New Infrastructure Construction", proposing the goal of "full coverage of urban and rural smart charging infrastructure". At the end of May, the Ministry of Finance issued the "Opinions on Financial Support for Carbon Peaking and Carbon Neutralization", which mentioned that it will vigorously support the development of new energy vehicles and improve the supporting policies for charging and replacing infrastructure. In addition, the state has set the tone for "steady growth" in 2022, and the policy to promote infrastructure investment is expected to continue to advance. The investment and construction of new energy vehicle charging piles and power stations belong to the new infrastructure series, and is expected to become one of the key areas for infrastructure growth in 2022.

It is worth noting that after entering 2021, the high-voltage fast charging route is favored by more and more OEMs. First, international giants such as Hyundai and Kia released 800V platforms, and then domestic OEMs such as BYD, Great Wall, GAC, and Xiaopeng also launched them one after another. Or plan to launch an 800V platform, and the high-voltage fast charging experience will become an important standard for differentiated experience in the electric vehicle market.

In the secondary market, the stock price of Xinrui Technology has risen by 155.63% since its low point on April 27. It is reported that Xinrui Technology meets the application of high-power power electronic products in terms of technology, and the vehicle power supply products based on the silicon carbide solution can meet the demand of 800V.

In addition, according to incomplete statistics from the Financial Associated Press, Founder Motor, Jintian Co., Ltd., and Lanhai Huateng also have a layout in 800V. Founder Motor is based on 800V silicon carbide platform and other drive motors. Currently, customer projects have been designated and are under development. It is expected to be mass-produced in the third quarter of 2022. In addition, the 800V high-voltage electromagnetic flat wire products developed and produced by Jintian Co., Ltd. have passed the certification of some car companies. In addition, Blue Ocean Huateng and large domestic OEMs are already planning a high-voltage 800V system, the SIC project is undergoing pre-research, and 800V high-voltage IGBTs have been developed.

From a different practice point of view, high-voltage fast charging can achieve maximum power charging in a wider range, and can better match future fast charging needs. High-voltage fast charging can effectively solve the mileage anxiety and fast charging problems of electric vehicles, and has become a new trend in the evolution of energy supplementation technology in the future. The corresponding 800V high-voltage platform models and high-voltage and high-power supercharging networks are in the stage of accelerated deployment.

Minsheng Securities said in a research report released by Deng Yongkang and others on July 6 that according to estimates, in 2025, there will be 999,000 new energy vehicles equipped with 800V architecture in China, with a 3-year CAGR=270.9%, and new energy vehicles equipped with 800V architecture in the world. 2.153 million energy vehicles, 3-year CAGR=189.2%.

Analysts said that the benefits of high-voltage fast charging are mainly material upgrades and component upgrades. Material upgrades are mainly in three aspects, fast charge negative electrode, carbon nanotubes, and new lithium salt LiFSI. Parts upgrades are mainly in five aspects, motor, electronic control and vehicle power supply, relays, film capacitors, and high-voltage connectors.

It is reported that under the traditional 400V architecture, the permanent magnet motor is prone to heat generation and demagnetization, which provides an opportunity to cut into the 800V architecture. Under the 800V architecture, the motor faces two major requirements: bearing corrosion protection and enhanced insulation performance. In the trend of technical route, flat wire + oil cooling can be adopted to improve the power density and efficiency of the motor.

With the advancement of the battery 800V high-voltage working platform, in terms of electronic control, the advancement of the silicon carbide device application solution can increase the cruising range of the vehicle by 5-10%, the Si controller 18kw/L is increased to 45kw/L, the silicon carbide power Control prototype volume reduced by 40% and other advantages. In terms of vehicle power supply, silicon carbide MOS transistors have excellent characteristics such as small on-resistance, higher withstand voltage, good high frequency characteristics, high temperature resistance and extremely small junction capacitance.

According to Deng Yongkang's calculation, under the 800V platform in 2025, the domestic and global market space of electric controllers will be 1.154 billion yuan and 2.486 billion yuan respectively, and the CAGR in 22-25 years will be 172.02% and 189.98%; OBC domestic and global market space for on-board chargers They were 2.027 billion yuan and 4.369 billion yuan respectively, and the CAGRs from 22 to 25 were 170.94% and 188.83%, respectively.

It is worth noting that high-voltage DC relays are the core components of new energy vehicles. The high-voltage DC relay is the safety valve of the new energy vehicle. It enters the connected state when the vehicle is running, and can separate the energy storage system from the electrical system when the vehicle fails. At present, new energy vehicles need to be equipped with 5-8 high-voltage DC relays.

According to analysts' calculations, considering the increase in the value of DC relay bicycles brought about by the promotion of high-voltage relay platforms in the future, it is assumed that the unit price in 22 years is 200 yuan per unit, and it will increase year by year; 100 million yuan, CAGR=202.6%.

Minsheng Securities believes that the negative electrode and electrolyte in the material upgrade are mainly recommended in the material upgrade. The negative electrode is the decisive link in the fast charging performance. The new lithium salt LiFSI is more suitable for the high-voltage fast charging system, escorting the performance and safety of the fast charging battery. In the upgrade of parts and components, electric motor control, flat wire motor, and vehicle power supply are mainly recommended.

Guolian Securities stated that the development of high-voltage fast charging technology depends on the joint development of the vehicle end and the pile-end. The current high-voltage technology at the pile-end is basically available, and the vehicle end still needs to realize the development of key technologies such as power semiconductors, high-voltage fast-charging batteries, and high-voltage electric drives. Breakthroughs, if the development of these technologies is less than expected, it will affect the development rhythm of high-voltage fast charging piles.

Related targets:

Xinrui Technology (300745.SZ): The company has abundant orders on hand, and the increase in the penetration rate of 800V and intelligent driving promotes the sustainable development of the company's business.

Founder Motor (002196.SZ): Based on the 800V silicon carbide platform and other drive motors, there are currently designated customer projects, which are under development and are expected to be mass-produced in the third quarter of 2022.

Jintian Co., Ltd. (601609.SH): The 800V high-voltage electromagnetic flat wire products developed and produced have passed the certification of some car companies.

Lanhai Huateng (300484.SZ): It has been planning a high-voltage 800V system with large domestic OEMs, and the SIC project is undergoing pre-research. At present, 800V high-voltage IGBTs have been developed.

Yonggui Electric (300351.SZ): The company masters the core technology of high-power liquid-cooled charging guns, and has independent intellectual property rights; it can achieve charging scenarios with a maximum current of 600A and a rated voltage of 1000V, and is the first to promote and apply it in the domestic market. Well-known customers provide bulk products, which has formed a first-mover advantage in the market.
Source: Financial Associates, Zhitong Finance, etc.