/PRCWT/January 24, 2024 - On January 19, Honeycomb Energy's 400,000 PHEV battery pack launch ceremony was held at the Changzhou headquarters base. Based on accurate strategic research and product positioning, as well as the outbreak of PHEV and range extension markets, Honeycomb Energy has successfully rolled off 400,000 PHEV battery packs in just four years.
At present, Honeycomb Energy's high-quality power battery products have been equipped with more than 20 PHEVs and extended-range models such as Geely Galaxy, Landmap, Ideal, and Tank. In 2023, Honeycomb Energy's PHEV field accumulated 5.6GWh, an increase of 409.1% year-on-year. Thanks to its excellent performance in the PHEV market, Honeycomb Energy's installed capacity and market share have also increased. In 2023, the cumulative installed capacity of power batteries was 8.69GWh, ranking sixth in the country.
Since 2022, the growth rate of plug-in hybrid models has been higher than that of pure electric models. Soochow Securities previously reported that the penetration rate of hybrid models will increase from 7% to 50% in 2021-2025, and it is expected to replicate the growth path of independent SUVs in 2011-2016. Honeycomb Energy is keenly aware of this market opportunity and is one of the earliest battery companies in China to deploy PHEV and extended-range markets. At present, Honeycomb Energy has mass-produced PHEV products covering more than 50km to 200km. Among them, the flying-stack daggers 62Ah and 117Ah will become popular products in the PHEV market in 2023.
As an energy-connected high-tech enterprise, Honeycomb Energy has adhered to the business policy of "taking the long road and entering the narrow door" since its establishment. Honeycomb Energy announced on the 4th Battery Day that it will upgrade the hot-selling 62Ah, 90Ah and 117Ah PHEV and extended range products to 2.2C fast charging in Q2 this year, and "accelerate without price increase" while realizing the fast charging upgrade. At the same time, Honeycomb Energy also further launched three new products for the PHEV and extended range markets, namely the world's first ultra-300KM battery life hybrid iron-lithium short knife fast charging battery, the world's first ultra-350KM battery life hybrid ternary short knife fast charging battery and the world's first 800V-3C hybrid fast charging battery, which will be launched into the market one after another in Q3-Q4 this year. With the continuous mass production of new products, Honeycomb Energy will consolidate its leadership position in the PHEV market and further increase its market share.
