On October 19th, Honeycomb Energy held a small Xpeng P5 battery module offline ceremony and industry chain deep cooperation exchange meeting in Jintan, Changzhou, announcing the official mass production of the battery module matched with the Xpeng P5 model.
Xpeng P5 is a heavy-duty model launched by Xpeng Motors for the electric sedan market, and Honeycomb Energy provides battery modules for its 550 series version.
The battery cells are produced in Honeycomb Energy’s new AI intelligent factory in Jintan, using the company’s unique stacking cell technology and high-voltage safety systems with a nickel-cobalt content, which feature low internal resistance and high safety. The module adopts the Honeycomb Energy cold fan system’s module thermal resistance design, which can prevent the spread of target cells’ out-of-control conditions to help the battery pack achieve high safety for the user’s travel.
Honeycomb Energy highly values its cooperation project with Xpeng and established an efficient communication mechanism at the beginning of the collaboration, promoting rapid project landing. With the joint efforts of both parties, the project achieved a leap from “0” to “1” in less than a year, with mass production achieved in August 2022, and Honeycomb Energy’s new production line climbed to SOP status in just two and a half months.
Final Words
Since its relationship with CATL soured, Xpeng Motors has been looking for other battery suppliers for its vehicles and subsequently established relationships with CATL and Honeycomb Energy.
In the field of power batteries, the position of the “Ning King” cannot be shaken in the short term, but the high selling price of its battery has indeed become a hurdle for automakers to reduce costs.
With the introduction of more battery suppliers, Xpeng should be able to overcome the problem of low pricing power caused by a single supplier, thereby better improving the gross profit margin of the car and boosting its stock price.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.