资源描述
*EV 1624 2024 05 22*1 4 4 87 85 35.9%33.5%0.8%3.7%36.0%4 78.5 30.0%3.7%4 39.9%6.0pcts 4 67.4 28.3%5.7%4 43.7%11.7pcts 4 40.9%1.4%4 78.2GWh 3.2%60.0%4 35.4GWh 40.9%1.4%4 25.5GWh 48.7%7.8%71.9%4 9.9GWh 24.1%12.2%28.0%4 15.65GWh 44.65%4 9.95GWh 28.37%TOP3 4 2.54GWh,7.24%TOP3 79.4%24 4 297.7 3 6.8 23 5 24 4 7.9 24 1-4 101.7 252.0 1 2.5 24 4 39.4 3 1.6 47.3%4.2%TOP10 24 4 961.3 57.8%297.7 47.0%663.7 63.2%XVAZyRsPoNpOoQsRtOpQpO9PcM7NsQnNpNsOfQrRtOlOmOnO8OnNxPwMsOmQNZqMsQ*2 1 a b c d e 2 4680 4680 210Wh/kg 91 270Wh/kg a b c LIFSI 3 2-3 a b c 4 a b 1 2*C O N T E N T S4 40.9%1.4%02034 01 04130405 7n304jl0MYbJ7d2vqL5S1pKvZxvDHl7CnYBIQwX/6MP1YMl6/Rph3Ln2inCOX2hU*4 01.4*3 2024 4 230 4 240.6 235.9 12.8%9.3%10.5%12.5%2024 4 4 87 85 35.9%33.5%0.8%3.7%36%24 24 24 3 5 01 4 5 1 23-24 4 2 23-24 4-60%-40%-20%0%20%40%60%80%100%120%02000004000006000008000001000000120000014000001 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2023 2024 2023 2024-60%-40%-20%0%20%40%60%80%100%120%140%02000004000006000008000001000000120000014000001 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2023 2024 2023 2024*3 4 4 78.5 30.0%3.7%4 39.9%23 4 33.9%6.0pcts 24 3 37.0%2.9pcts 4 53.6%31.5%4 67.4 28.3%5.7%4 43.7%23 4 32%11.7pcts 24 3 41.6%2.1pcts 4 66.8%22.6%24 4 016 3 2024 4%4 2024 4%4 0%20%40%60%1 2 3 4 5 6 7 8 9 10 11 12 2019 2020 2021 2022 2023 2024 0%20%40%60%1 2 3 4 5 6 7 8 9 10 11 12 2019 2020 2021 2022 2023 2024*3017 5 23-24 4 6 23-24 4%4 4 53.5 11.6%51.9 11.1%4 33.4 108.5%33.1 95.7%4 61.1%3.0pcts 4 38.9%3.0pcts 0%20%40%60%80%0%20%40%60%80%100%1 2 3 4 5 6 7 8 9 10 11 12 2023 2023 2024 2024-40%-20%0%20%40%60%80%100%120%140%160%01000002000003000004000005000006000007000008000009000001 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2023 2024 2023 2024 2023 2024*3018 7 2024 4%8 19-23 24 4%4 A0 B 4 46.2 5.7%8.8%4 25.5 103%10%4 B 15.7 24%34%A00+A0 A00 7.8 39%7%17%A0 11.2 24%A 9.8 21%B 17%24%21%34%4%A00A0ABC0%20%40%60%AOO AO A B C2019 2020 2021 2022 2023 24 1-4*3019 9 24 4 4 4 11.8%0.5 31.5%6.8%0.7 050001000015000200002500030000*30110 10 24 4 11 24 4 4 24 4 25.41 31.1%37.5%4.92 76.3%6.6%6.0%14 3 86.6%86.5%80.7%050000100000150000200000250000300000050000100000150000200000250000300000350000*3 24 4 34 PLUS Macan 410 QQ G6 009 L6 L-HT ET7 2024 0111 1 2024 4 PLUS B SUV E5 B SUV G6 B SUV B A05 A 009 C MPV Macan B SUV Q05 A SUV L6 C SUV Taycan C Plus A0 SUV L B SUV 410 A SUV A0 SUV-HT C SUV A00 smart#1 A0 SUV ET7 C QQ A00 smart#3 A SUV A00 300 Hi4-T A SUV EV B SUV S7 C 06 C-DM A SUV HQ9 PHEV C MPV N7 B SUV IQ B SUV Hi4 A SUV Polestar 4 C SUV T2 A SUV GL8 PHEV C MPV VX6 A SUV RD6 4*3 2025 1379 CAGR 40.7%2021-2022 2023 950 2024 1-4 273.7 2025 1379 21-25 CAGR 40.7%44%0112 12 13%0%20%40%60%80%100%120%140%160%180%020040060080010001200140016002020 2021 2022 2023 2024E 2025E国内新能车销量（万辆）国内新能车销量增速0%5%10%15%20%25%30%35%40%45%020040060080010001200140016002020 2021 2022 2023 2024E 2025E国内新能车销量（万辆）渗透率4*4 40.9%1.4%02.13*3 4 78.2GWh 3.2%60.0%24 1-4 262.8GWh 40.5%2024 4 35.4GWh 40.9%1.4%24 1-4 120.6GWh 32.6%40.8Wh 33.8%41.2%79.8GWh 66.1%28.6%4 024 40.9%1.4%14 14 23-24 4 MWh 15 23-24 4 MWh-100%-50%0%50%100%01000020000300004000050000600007000080000900001000001 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2023 2023 2024 2024-100%-80%-60%-40%-20%0%20%40%60%80%100%120%140%01000020000300004000050000600001 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2023 2023 2024 2024*3 24 4 TOP1 24 4 TOP2 2024 4 TOP15 34.93GWh 99.57%15.65GWh 44.65%4 9.95GWh 28.37%3 TOP3 4 2.54GWh 7.24%TOP3 79.4%3 77.6%1.8 pct 47 5 0215 16 2024 4 TOP15 4 40.9%1.4%44.65%28.37%7.24%4.11%3.73%3.14%2.85%1.27%1.11%1.07%0.93%0.76%0.20%0.14%0.00%LG*3 20 3 2021 7 50%24 4 22.7GWh 29.0%30.0%6.5%4 55.4GWh 70.8%76.2%7.8%9.9GWh 28.0%24.1%12.2%25.5GWh 71.9%48.7%7.8%0216 17 23-24 4 MWh 18 23-24 4 MWh 4 40.9%1.4%0%20%40%60%80%01000020000300004000050000600007000023 1 23 2 23 3 23 4 23 5 23 6 23 7 23 8 23 9 23 10 23 11 23 12 24 1 24 2 24 3 24 4 0%20%40%60%80%0500010000150002000025000300003500023 1 23 2 23 3 23 4 23 5 23 6 23 7 23 8 23 9 23 10 23 11 23 12 24 1 24 2 24 3 24 4*3 NCM NCA 0217 mAh/g 130-140 150-220 140-150 100-120 2 Model 3 Model 3 Model Y Power Day-2021 10 4 40.9%1.4%*3 2024 1-3 158.8GWh 22.0%2024 1-3 TOP10 145.5GWh 91.6%6 62.2%TOP1 2024 1-3 60.1GWh 37.9%2024 1-3 22.7GWh 14.3%3 23.5%0218 19 2024 1-3 GWh SNE 4 40.9%1.4%0%20%40%0.010.020.030.040.050.060.0%*3 2025 731GWh 20-25 63%2025 1190GWh 20-25 54%0219 20 2020-2025 GWh 21 2020-2025 GWh 6315532044856373101002003004005006007008002020 2021 2022 2023 2024E 2025E137297506702906119002004006008001000120014002020 2021 2022 2023 2024E 2025E4 40.9%1.4%*03.20*3 1 2.5 24 1-4 101.7 252.0 1:2.5 24 4 24 3 6.8 47.0%24 4 297.7 131.5 166.1 23 5 24 4 7.9 03 21 22 21-24 4 23 21-24 4 KWh EVCIPA EVCIPA 0%5%10%15%20%05000001000000150000020000002500000300000035000002020/102021/012021/042021/072021/102022/012022/042022/072022/102023/012023/042023/072023/102024/012024/04 0%50%100%150%200%250%300%350%0501001502002503003504004502021/012021/032021/052021/072021/092021/112022/012022/032022/052022/072022/092022/112023/012023/032023/052023/072023/092023/112024/012024/03 KWh*3 EVCIPA 24 4 TOP10 70.1%3 4 TOP10 24 4 575554 4 24 4 39.4 1.6 47.3%4.2%24 4 8.53 KWh 03 22 24 2024 4 TOP10 25 2024 4 TOP10 KWh EVCIPA EVCIPA 010203040506070 0100002000030000400005000060000700008000090000*3 24 4 3715 24 3 30 24 4 TOP10 447 12.03%434 11.68%TOP3 375 10.09%TOP3 33.81%4 TOP2 4 2416 24 3 12 697 24 3 3 317 24 3 11 03 23 26 24 4 TOP10(27 24 4 EVCIPA EVCIPA 0%4%8%12%16%050100150200250300350400450500 050010001500200025003000*3 2024 1-4+101.7 15.4%25.1 10.3%76.7 17.1%24 4 961.3 57.8%297.7 47.0%663.7 63.2%03 24 28 24 4 EVCIPA 297.7663.7*04.25*3 2024 4680 CTB 24 1149 1 2 4680 4680 210 Wh/kg 91 270Wh/kg LiFSI 3 2-3 4 04 26*05.27*305 28 1 2*THANKS 29 8 1 5F 200120 28 A 19 100005 6001 32 05:518026 S0100521100006 S0100523050004 S010052312002 S0100122060007 S0100122060013 S0100522120001 S0100122120021 S0100524010003 S0100123020010*12 A 300 500 15%5%15%-5%5%5%5%-5%5%5%*1430
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