boston-power lithium-ion battery solutions...toronto april 24, 2017 . 18 135 57 15 92 26 45 42 127...

BOSTON-POWER

LITHIUM-ION BATTERY

SOLUTIONS

BENCHMARK WORLD TOUR 2017 TORONTO APRIL 24, 2017

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BOSTON-POWER

MARKETS

MISSION Provide Next-Gen Li-Ion Batteries Enabling Enhanced Mobility and

Environmental Sustainability

KEY

MARKETS

China EV Passenger (Eco-EV), Commercial (eTruck) / Fleet (eTaxi) Vehicles

Global EV and ESS 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

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BEIJING Pack Design. Center CHINA Manufacturing BOSTON R&D Center

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Global demand increasing

China leading growth

Forecasts more aggressive

OPPORTUNITY: SURGING BATTERY DEMAND FOR EV

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KEY MARKET CHINA: BY 2020, 100GWH AND $18B

80

1,413

4,184

101,406

0

50,000

100,000

150,000

200,000

250,000

0

500

1000

1500

2000

2500

3000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

电动汽车年销量预测

电池需求

Source: MIIT China, 2015 EV Sales Volume

EV Battery Demand

000 Units

Sales Vol. 80 347 491 643 842 1,122 1,413 1,628 1,974 2,462

MWh Battery 4,184 10,782 28,673 48,280 67,367 83,136 101,406 124,400 150,463 197,451

Thousand Units

（MWh）

Growth 1H15

3X 5X

4

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KEY CHALLENGE: SUPPLY

2009-2012 2013-2015 2016-2020

<1 GWh = <1 Factory 10 GWh = 10 Factories 100 GWh = 100

Factories

Need to satisfy huge battery

production demand!

Estimated Market Demand for EV Batteries in China

5

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BOSTON-POWER SOLUTIONS

CELLS Industry leading LONG LIFE with HIGH

ENERGY DENSITY, WIDE TEMPERATURE

RANGE, and FAST CHARGE

MODULES

PACKS

Packaging with NO CELL WELDING and

ADVANCED SAFETY features. Quickly and

easily integrating Boston-Power cells into

large format modules

Customized FULL EV PACK SOLUTIONS

delivered to Automobile manufacturer

requirements (China focused)

Swing and Sonata Cells

Ensemble ™ Module System

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Custom Module and Pack Solutions

Boston-Power

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Long Cycle Life + High Energy Density

+ Fast Charging

+ Low Temperature Operation

Delivering Long Life

While Maintaining High

Performance

+ Calendar Life

Boston-Power

Competitors

BOSTON-POWER CELL DIFFERENTIATION

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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 2018-2019

• Cell: 4+ GWh 2nd China site starting 2019

• Pack: 42,000 packs at existing Liyang site by 2018

• Pack: 20,000 packs at 2nd China site starting 2018 (co-located with customer)

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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

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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

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E-TAXI FLEETS

Battery Technical Features

Base Block / Module Swing Key 442

Configuration 16p94s

# of Cells / Vehicle 1,786

Nominal Voltage 343 V

Installed Energy 29 kWh

Installed Capacity 84 Ah

Thermal Management Passive

Weight 322 kg

Energy Density 90 Wh/kg

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• 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

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90 kWh UTILITY VAN

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• 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

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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

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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 (LiMO2)

• 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

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TYPICAL NEW MATERIAL EVALUATION PLAN (FOR EXISTING CELL PRODUCT)

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

1 – 3 Months 3 Months 3 – 6 Months

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Material Evaluation (Laboratory Trials)

• 1 kg (anode/cathode) • Rigorous evaluation • 3 separate lots • Pre-production lots OK

but not preferred

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QTDC SUPPLIER EVALUATION PROCESS

Quality

Technology

Delivery

Cost

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NI-BASED CATHODES WILL DOMINATE EV

• 2016: 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 – LiCoO2

LMO Lithium Manganese (Spinel) Oxide – LiMn2O4

LFP Lithium Iron Phosphate – LiFePO4

NCA Lithium Nickel Cobalt Aluminum Oxide –

LiNi0.8Co0.15Al0.05O2

NCM Lithium Nickel Cobalt Manganese Oxide

NCM 111 LiNi0.33Co0.33Mn0.33O2




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Pulead, 34th International Battery

Seminar March 20-23, 2017

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CHALLENGES FOR CELL MANUFACTURERS

• How to effectively dual source

key materials

– Anode, cathode and separator

– Small source differences can

significantly impact cost/performance

• Increased scrutiny on raw

materials

– How to ensure missions of

environmental sustainability and

corporate responsibility

Washington Post,

September 30, 2016

Varying Cycle Life

Performance Due to

Separator from 3

Different Suppliers

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WHAT HAPPENS TO BATTERY AFTER EV?

• 2nd 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?

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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)

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THANK YOU

RICK CHAMBERLAIN

[email protected]

boston-power lithium-ion battery solutions...toronto april 24, 2017 . 18 135 57 15 92 26 45 42 127...

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