More and more car companies are joining Tesla and thinking about reducing the cost of the body, and auto parts companies are also actively embracing this trend.
On May 18, Wencan Co., Ltd. and Lizhong Group both announced that the two parties signed a strategic framework agreement to develop materials for large-scale integrated body structural parts of new energy vehicles, integrated cast battery box boxes and other products. Establish a strategic partnership with the process application field to jointly develop heat-free materials suitable for large-scale integrated aluminum castings. Lizhong Group is responsible for research and development of material formulas, and Wencan is responsible for research and development of process conditions.
Automotive integrated casting is not a new concept, and this wave of craze was set off by Tesla. On September 22, 2020, Musk announced that Model Y will use a one-piece die-cast rear floor assembly. Due to the combination of stamping and welding processes, the number of parts has plummeted, and the use of robots has been greatly reduced. When this Model Y was released The overall cost has dropped by more than 40%.
However, the technical threshold of integrated die casting is extremely high, and the special alloy material used for die casting is one of the core barriers.
Traditional aluminum die-casting body parts such as shock towers usually require T7 (solution + aging heat treatment) in order to meet high elongation and ensure riveting performance, but the size of the integrated casting is larger (the projected area of the rear seat plate is 1.5m*1.5m ), heat treatment is easy to release deformation, so special heat-free aluminum alloy is required, which can ensure product structure and mechanical properties without heat treatment. In addition, the use of heat-free materials can also improve the yield to a certain extent because the heat-treatment process is saved.
To this end, Musk spent a lot of money to dig aluminum alloy experts from Apple and developed a high-strength alloy formula that does not require coating and heat treatment.
Lizhong Group applied for a patent for heat-free alloy material in 2020, breaking the foreign product monopoly and technology blockade in this field. It is the only company in China that has applied for a patent, and has gradually realized the market-oriented application of this material. At the same time, the price is higher than that of foreign countries. Product prices are 15%-20% lower. At present, it directly provides some products and supporting services for many new energy vehicle companies such as Weilai, Ideal and Xiaopeng, and has completed the factory certification of an international leading new energy vehicle company.
The value of bicycles in the three types of enterprises is expected to continue to increase
At present, electric vehicles have not been fully produced on a platform, especially the newly entered new power car companies have no stamping and welding capacity, and the burden of transformation is small, and they are more motivated and willing to promote the integrated die-casting process. According to statistics from Zheshang Securities, Weilai, Ideal, Xiaopeng, Huawei/Sales, Zhiji, and Xiaomi are all negotiating/evaluating/designating/planning integrated die castings.
Among them, Weilai and Xiaopeng are at the forefront. The former successfully developed a heat-free aluminum alloy material that can be used to manufacture large-scale die castings in 2021, and will be applied to the second-generation platform models of Weilai. In December 2021, Weilai To release the new car ET5, the rear seat panel of the car uses an integrated die-casting process; the latter has purchased two 7,300-ton die-casting machines, and has joined an integrated die-casting process workshop in its Wuhan plant, and will introduce more than one set of super-large die-casting islands and Automated production line.
In addition to the main engine factory, die-casting machine equipment factories and aluminum die-casting enterprises have vigorously deployed integrated die-casting. Lijin Group, Yizumi, Haitian Metal and other equipment factories have increased their production of large-tonnage die-casting machines; Ruili Group, Millison, Top Group, Chervon Automobile, Guangdong Hongtu, Aikedi and other auto parts die-casting companies have also In advance of the layout, Wencan shares are at the forefront.
Note: Purchase quantity and planned products of large-tonnage die-casting machines of various aluminum die-casting plants
Zheshang Securities analyst Qiu Shiliang predicts that in terms of bicycle value, with the technological upgrade of integrated die-casting, the application scope of body integration will expand from the current rear seat panel to the front body, chassis battery tray, and door, and the corresponding bicycle ASP is expected to be From 2,200 yuan to 14,400 yuan; in terms of penetration rate, according to the current integration willingness of OEMs, more and more car companies will gradually adopt integrated die-casting for production. 3.03 million vehicles. The market space for integrated die casting in 2021-2025 will increase from about 900 million yuan to about 27.3 billion yuan, with a CAGR of 134.5%.