In terms of profits, but on the way to the rise of China ’s own mobile phone brand, it is also “very successful”.
1. Apple has organized the domestic mobile phone industry chain for other mobile phone companies with its own strong supply chain management capabilities.
Before 2011, China already had a relatively complete mobile phone industry chain, but it has not been effectively organized. Foxconn foundry and China’s huge market demand, combined with Apple’s management capabilities, have brought China’s mobile phone industry chain to a higher level.
2. Apple has cultivated a large demand for smart phones for the domestic market.
With the popularity of Apple mobile phones, the demand for the domestic smart phone industry has exploded. First, domestic mobile phones and the industrial chain were provided with opportunities to grow bigger and stronger, and finally began to import substitution.
Thanks to this, we can see the names of Huawei, OPPO, vivo, Xiaomi and other companies on the global mobile phone list today.
If Tesla really localizes all parts as promised, can we expect it to benefit local electric vehicle companies in the long run, just like the rooting of Apple’s industrial chain in China? How about it?
03, which links will benefit Tesla’s “domesticization” tide?
If we dig deep into the supply chain company behind the Tesla Super Factory, we will find that compared with the Apple industry chain and Huawei industry chain, the automobile industry chain is far longer than smart phones in length and depth, and is expected to continue to benefit The list of suppliers is also longer.
Specifically, its supply chain involves ten parts including powertrain system, electric drive system, charging, chassis, body, other components, central control system, interior and exterior trim, involving direct and indirect suppliers More than a hundred homes.
Tesla Supply Chain
Picture source: Intuitive mechanics, Guotai Junan Securities Research
Among them, most of Tesla’s core technology suppliers come from Japan, the United States and Europe, and most domestic companies enter the supply chain system as secondary raw material suppliers.
Example: List of Tesla lithium battery pack suppliers
Picture source: Intuitive mechanics, Guotai Junan Securities Research
For example, among Tesla’s most core lithium battery packs, the manufacturer of lithium battery packs is Panasonic, the supplier of cathode materials and separators is Sumitomo Chemical of Japan, and the supplier of anode materials is Hitachi Chemical of Japan. Produced by Mitsubishi Chemical in Japan.
In the battery pack, only the battery connector is provided by China Changying Precision, and the cover and protective shell are provided by Xusheng Co., Ltd.
However, things are changing.
It was reported in November last year that Tesla has reached a preliminary non-binding agreement with Ningde Times, which will supply batteries to Tesla’s Shanghai plant as early as 2020.
Chinese companies are stepping into Tesla’s core supply chain step by step.
Even before, as Tesla’s electric vehicle production capacity in China gradually spreads out, Tesla’s Model 3 batteries, motors, and parts casings will also generate strong demand for raw materials in the industry chain.
Cobalt, manganese, nickel, lithium, graphite for upstream raw materials, middle and lower reachesConnectors, including the downstream vehicle link, will generate large kinetic energy, which will greatly benefit the entire power vehicle industry chain. Our materials, equipment, and lithium batteries will definitely have excellent long cattle such as Luxion Precision. Was born.
Among them, the following links must be focused on:
1. Batteries and battery raw materials
Upstream raw materials are the most certain beneficiaries.
In addition to the potential battery supplier Ningde Times, Tesla is also considering switching batteries from Panasonic to LG’s Nanjing plant, and LG’s upstream materials are basically made in China, which will save more costs.
Cobalt, lithium, magnetic materials and copper foil and other non-ferrous materials will become Tesla’s potential suppliers.
Tesla’s list of upstream raw materials corresponding to bicycles
Source: Guotai Junan Securities Research
A listed nonferrous metals companies, Huayou Cobalt / Luoyang Molybdenum (Cobalt) , Ganfeng Lithium / Tianqi Lithium (lithium hydroxide) , Tongling Nonferrous Metals / Nuode Co., Ltd. (lithium copper foil ) , Zhongke Sanhuan (Motor Magnetic Materials) , Nanshan Aluminum (four doors and two covers ) and Dongmu Co., Ltd. (Power Device Housing ) and other targets deserve attention.
2. Charging pile
At present, 11 of Tesla’s 21 direct suppliers are charging pile equipment and operating companies, accounting for 50%.
List of suppliers of Tesla charging equipment
Picture source: Intuitive mechanics, Guotai Junan Securities Research
As the focus of Tesla’s industrial chain shifts to China, and under the new national standard for charging facilities, manufacturers, operators, and integrators of Chinese charging equipment are expected to further increase their participation in the localization of Tesla.
We have screened A-share charging pile-related companies that have formed cooperation with Tesla’s charging stations. In the future market development, they are expected to deepen cooperation with Tesla.
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