Will mass production of composite aluminum foil have an impact on composite copper foil

Last Friday, Chongqing Jinmei announced the implementation of8-micron composite aluminum foilMass production of the product (new generation multifunctional composite aluminum conductive film product), claiming that the composite aluminum foil product is mainly supplied to customers of global power battery leading enterprises. The market is concerned that it may have an impact on the composite copper foil:

one ⃣ Market concerns: 1) Prioritizing mass production of composite aluminum foil reduces the necessity of composite copper foil: The mechanism by which composite current collectors enhance battery safety lies in the intermediate organic insulation layer - which can provide infinite resistance to the circuit system when thermal runaway occurs. As it is non combustible, it reduces the possibility of battery combustion, fire, and explosion. The market believes that prioritizing the mass production of composite aluminum foil and improving battery safety will increase the uncertainty of the application of composite copper foil; 2) Composite aluminum foil does not require the process of water plating thickening, which poses a certain impact on the logic of equipment manufacturers.

two ⃣ What do we think about this? It's complementary, not substitutive. Prioritizing the mass production of composite aluminum foil will accelerate the industrialization progress of composite copper foil: 1) The use of composite aluminum foil will not reduce the necessity of composite copper foil: ① Different functions, composite aluminum foil and composite copper foil respectively serve as positive and negative current collectors for lithium batteries; ② Improving the safety of batteries is one of the most important pursuits of lithium battery manufacturers, and there is no situation where progress is halted after a certain degree of improvement From an economic perspective, due to the higher cost of copper compared to aluminum, composite copper foil theoretically has more room for cost reduction than composite aluminum foil From the perspective of energy density, the composite current collector has a lower density and thinner thickness. At the same thickness, it is estimated that the unit weight of the composite current collector copper aluminum foil decreases by 63% and 36% respectively, with a more significant decrease in the unit weight of the composite copper foil. We believe that prioritizing mass production of composite aluminum foil will actually accelerate the industrialization progress of composite copper foil in enterprises.

three ⃣ How do industry chain players view: 1) Chief Technology Executive Officer of an unlisted company: Chongqing Jinmei is also considered an official announcement, but it did not disclose which company provided the batteries. We have mentioned in the Dongguan conference that the application of composite aluminum foil may be faster. However, it is unexpected that it is ahead of the application of composite copper foil in electric vehicles (official announcement). In theory, the application on 3C will be faster, but the price factor has an impact on rapid promotion; 2) Management of listed company 1 (with composite aluminum foil patent): Aluminum itself is much cheaper than copper, and the material cost advantage of composite aluminum foil is not obvious. Meanwhile, composite aluminum foil cannot be thickened by electroplating with water, resulting in a very high cost throughout the entire process. Our composite aluminum foil project has also been approved, but its priority is not at the forefront; 3) Management team of listed company 2: The equipment is very expensive, and the 2000 meter continuity equipment is sold for 60 million yuan. The cooling system of domestically produced PVD vapor deposition equipment is very different from that of Japan, and it is not a generational process; 4) Management 3 of a listed company: Before Jinmei left Hefei, she had been working on the vapor deposition route. The technical problem of composite aluminum foil can be solved now, but the cost is indeed high (the cost is about the same as the price of traditional aluminum foil); 5) Management team of listed company 4: You can verify with downstream battery factories, because wolves have come many times.