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The days when charging is faster than refueling are coming closer

Car owners have always complained about the slow charging of new energy vehicles, and they wonder when charging can be as convenient and fast as refueling.

The launch of the new national standard has given the industry a shot in the arm. A full charge in just a few minutes will soon be no longer a dream.

01 New national standards accelerate the arrival of the fast charging era

The recent release of a new national standard for charging has triggered heated discussions in the market. This new national standard is actually a new upgrade to the original 2015 version of the national standard scheme. There are three core changes after the upgrade: 1) Use my country’s current DC charging interface technology solution to ensure universal compatibility of new and old charging interfaces; 2) The maximum charging current is increased from 250A to 800A, and the charging power is increased to 800kW. 3) Further improve the environmental adaptability, safety and reliability of the conductive charging connection device, and at the same time meet the actual needs of DC low power and high power charging.

New energy vehicles have become popular rapidly in recent years, but energy replenishment issues have always been a pain point. Charging times are long, the proportion of public DC piles is low, and the vehicle-to-pile ratio is unbalanced, which in turn restricts the development of new energy vehicles. This version of the new national standard clearly addresses the The increase in charging current and power indicates that fast charging is approaching.

But to better drive the implementation of the fast charging industry, it not only requires the linkage of the car end and the battery end, but also requires the coordinated development of charging pile infrastructure and the entire industry chain upstream and downstream. In particular, charging piles are the most important link in energy replenishment. As consumers’ demand for rapid energy replenishment increases, the demand for high-power DC charging increases sharply.

Because in order to solve users’ “charging anxiety”, on the one hand, it is necessary to increase the number of charging piles, and on the other hand, it is necessary to shorten the charging time. To shorten the charging time, high-power DC charging piles are naturally needed, because the greater the power, the faster the charging, which can help users achieve a “refueling” charging experience.

Charging piles can be divided into slow charging, fast charging and super charging according to different charging speeds. Slow charging is an AC charging pile, fast charging and overcharging are what we usually call DC charging piles, and overcharging is nothing more than a DC charging pile with more power. In the article “The Trend Comes Again, Charging Piles Copying Energy Storage|Jianzhi Research” emphasizes that charging piles have great opportunities to go overseas, and overseas volume and price are more advantageous than domestic ones. Structurally, domestic and foreign demands for public DC piles The demand will only become stronger, especially for high-power DC piles.

With the implementation of this document, the development of high-power DC piles will become faster and faster.

02 Under the trend of high power, charging module companies will “retreat if they don’t advance”

Charging modules are the core components of high-power DC piles. In the past, charging power requirements were not high. Although charging modules have the highest technical barriers in charging piles, low-end and homogeneous competition is still very cruel. With the advent of the high-power trend, the requirements for charging modules are getting higher and higher. 20KW charging modules are still the mainstream in the industry, but the products of mainstream module companies, such as Tonghe Technology, Infineon, and Youyou Green Energy, have successively entered the market. 30/40KW iteration, and even 60KW modules have been developed. In addition to power, technology is also gradually changing from the traditional air cooling mode to the liquid cooling mode.

As the fast charging era progresses, companies with R&D and production capabilities for high-power modules and liquid cooling methods will benefit even more.

The charging pile industry is similar to other manufacturing industries such as photovoltaics. When it develops to a certain point, it will inevitably face homogeneity and overcapacity. At this time, product upgrade is the only way out.

Domestic listed companies that make modules include Tonghe Technology, Shenghong Technology, Daotong Technology, etc. The results for the first half of this year have been realized.
In the article “Charging piles that the market is paying attention to, finally started to realize profits | Jianzhi Research”, Jianzhi Research explained in detail the semi-annual report of Tonghe Technology. Its 2023H1 revenue was 330 million, a year-on-year increase of 57.95%, and the net profit attributable to the parent company increased year-on-year. 3182.19%, of which charging module revenue was 189 million yuan, a year-on-year increase of 142.74%; gross profit margin was 25.45%. It can be seen from the performance that charging piles have brought tangible performance increases to the company.

In addition to Tonghe Technology, Daotong Technology’s revenue in the first half of this year was 1.448 billion yuan, a year-on-year increase of 40.13%; net profit attributable to the parent company was 189 million yuan, a year-on-year increase of 120.69%; Shenghong Co., Ltd.’s first-half revenue was 1.102 billion yuan, a year-on-year increase of 100.89%; Net profit attributable to parent companies was 181 million yuan, a year-on-year increase of 166.15%.

In short, the standards of the new national standard are within expectations, but they will make industry development more clear after they are implemented. Charging speeds are constantly accelerating. Only if the technology upgrades of car companies, electric vehicle manufacturers, various parts and components and other links keep up with the demand can we continue to prosper.