Hithium has the confidence to become the first brand of energy storage battery?

The energy storage market is booming. While CATL is standing on the forefront by virtue of its first-mover advantage, emerging capabilities from all walks of life are also rushing in. HITHIUM Energy Storage is undoubtedly the most eye-catching one. This company was only established in 2019. Its battery shipments last year reached 5GWh, and it has achieved "double firsts" in the industry in just three years: ranking first in the number of power energy storage battery delivery projects in China in 2022 and ranking first in 2022. China's energy storage battery shipments have the highest growth rate and play a decisive role. In the next step, this company has set its production capacity target at the "100G level": it plans to reach 100GW by 2024 and 135GW by 2025. production capacity.

“It’s a sprint from the start” and “incredibly fast” – this is how some people in the industry commented on the speed of HITHIUM .

Who is HITHIUM,?and what are the unique secrets behind its rapid expansion?

1. The founder’s “CATL” background

The legal representative and chairman of HITHIUM Energy Storage came from CATL and belonged to the former technical staff of CATL. After leaving CATL, in just over 3 years from 2019 to now, he did not waste any time and quickly established HITHIUM. Various platform companies, subsidiaries at all levels, and related equity-affiliated companies are coming one after another. A large number of technical backbones from the early stage of CATL have also entered HITHIUM and are deeply involved in the preparation and operation.

2. Accurate track positioning

Only focus on energy storage batteries, not power batteries! HITHIUM also has another notable feature: its battery prices are lower than some traditional large manufacturers, and its quality is superior to that of small manufacturers. Outstanding features form differentiated competitive barriers. In a market environment where profit comes first, no company will refuse products of high quality and low price.

In terms of market strategy, HITHIUM seized the situation that the energy storage market has not yet been segmented. At the beginning of its establishment, it set the key strategies of ultimate single product and rapid mass production, thus occupying a place in the early energy storage market.

3.Strong execution ability

Strong execution ability is one of the characteristics of HITHIUM. It is understood that from 2023 to now, the company's domestic and overseas orders have totaled approximately 30GWh, an increase of 5 times year-on-year. The order volume in January this year is expected to generate tens of billions in revenue.

In terms of core technology research and development, HITHIUM has accumulated 1,567 patents. From 369 new patents in 2021 to 603 new patents in 2022, to 142 new patents in the first quarter of this year. It can be seen that HITHIUM has maintained rapid growth on the road of independent research and development.

4. Government support

Public information shows that Xiamen City’s support for HITHIUM is almost all-round. According to the company's official website, the company is a tens-billion-level key project introduced by Xiamen, a key project in Fujian Province and a national high-tech enterprise. It has been selected as one of Xiamen's "Three Highs" and a city's key industrial enterprise. Since this year alone, HITHIUM has received financial credit from many local banks, with a cumulative credit limit of RMB 56 billion. At present, HITHIUM 's production capacity mainly relies on the 15GWh battery factory in the first phase of the Xiamen base. In the next step, the company will obviously have more financial reserves to achieve the "100G-level" goal.

In addition, HITHIUM has also received certain support in the primary market. In October last year, it completed more than 2 billion RMB in Series B financing.

5. Cost-effectiveness

Wang Pengcheng, general manager of HITHIUM, once said in a public interview that the ultimate goal of energy storage is to make the full life cycle cost of electricity of the wind and solar distribution and storage system lower than the cost of thermal power. For this reason, high safety, long life, and high energy efficiency Having both at the same time is a consistent demand in the energy storage industry.

This means that in order for energy storage companies to stand out, they must have cost advantages and be reliable enough in terms of product quality. However, according to industry insiders, before the emergence of HITHIUM, it was difficult for companies in the energy storage industry to have both, that is, either "bearing the pain" to buy high-priced cells from CATL and other companies, or they had to do a good job of "low-cost" energy storage. Be prepared for the rapid decline in capacity of the batteries purchased at "price".

Compared with similar products, how cost-effective are HITHIUM products?

The person in charge of a leading domestic energy storage integration company provided reporters with a more intuitive example. As an energy storage system concentrator, his company had purchased cells from CATL and HITHIUM respectively. "The price of battery cells of CATL is the most expensive on the market, and the price of HITHIUM is at least 20% cheaper than that of CATL. In addition, in terms of quality, the quality of HITHIUM's battery cells is comparable to that of CATL.

Who would say no to a cost-effective battery? Let us look forward to his future path!