Motor: It is expected that permanent magnet motors will become domesticNew energy vehicle motorMainstream route

At present, electric vehicles on the market are mainly equipped with AC induction motors and permanent magnet motors. The former is widely used in Europe and the United States and is characterized by low cost, but small speed range and low efficiency. The latter is favored by Japanese cars and has improved speed range and efficiency. However, it is necessary to use expensive rare earth permanent magnet material NdFeB. Japan is short of resources. In the face of rising rare earth prices, Japan is developing switched reluctance motors with potential, this kind of motor is not lost to the permanent magnet motor in performance, and it is important to get rid of the dependence on rare earths.

At present, electric cars in my country mostly use permanent magnet synchronous motors, such as hybrid cars produced by automobile companies such as Dongfeng, Chery, Changan, FAW and SAIC, while buses mostly use AC motors. The application of DC motors in modern high-performance vehicles is decreasing, but there are still some vehicles in application, such as the Lujun electric vehicle produced by Shandong Lujun Electric Vehicle Co., Ltd. Some companies have used switched reluctance motors as drive motors. For example, the hybrid city buses developed by Dongfeng Motor Co., Ltd. use air-cooled switched reluctance motors. As China's rare earth reserves are extremely rich, and the motor technology is close to the world's advanced level, it is expected that permanent magnet motors will occupy the motor market of new energy vehicles for a long time.

Motor parts: emphasis on cost and stable supply

The motor is mainly composed of two parts: stator and rotor. The main function of the rotor is to generate a rotating magnetic field, while the main function of the stator is to be cut by the magnetic line in the rotating magnetic field and then generate and output current. The quality and performance of the stator and rotor cores directly determine the performance, energy efficiency and stability of the motor.

-From the calculation of market capacity, automobile motors are divided into automobile generators and micro-motors. Under normal circumstances, a car is equipped with a car generator and a number of car micro-motors (an average of 15). During the life cycle of the car, a car needs to replace an average of 2 power generation rotors and 2.75 micro-motor rotors. According to this calculation, we predict that there will be 0.165 billion, 0.174 billion and 0.176 billion stators for automotive generators and 3.14 billion, 3.21 billion and 3.14 billion rotors for automotive micro-motors in the world from 2011 to 2013.

-At present, the motor stator, rotor industry competition pattern mainly presents by the motor manufacturers open procurement and self-supporting co-existence of the situation, at present, by the motor enterprises themselves supporting the supply of motor stator, rotor still accounted for a considerable proportion. In the future, with the deepening of specialized division of labor, motor stators and rotors will be more supplied by specialized manufacturers.

Motor control: IGBT has a large import substitution space

-The motor drive control system determines whether the new energy vehicle can operate safely and reliably, and is the core of the drive system. The development of electronic control system includes software and hardware design. The core software is generally developed by the vehicle manufacturer, and the hardware and underlying driver software can be optionally provided by the auto parts manufacturer.

-The motor control system is mainly composed of inverter (the main component is IGBT power module), inverter driver, power supply module, central control module, soft start module, protection module, heat dissipation system signal detection module, etc., of which IGBT accounts for 40-50% of the total controller cost. At present, IGBT has not been able to be localized and monopolized by foreign countries. Mainly foreign Toyota Industries, Mitsubishi, Meidensha, Nichicon, Nissan, Magna, Toshiba, Bosch and other production of electric vehicle inverters, domestic technology needs to be further improved. Some other key components, such as high-performance silicon steel sheets and insulating materials, are also mainly dependent on imports. If domestic technological breakthroughs are achieved, the market space is huge.

5. relay:new energy vehicleDrive industry output value expansion

Relay is a kind of automatic and remote control component used to turn on and off or convert circuit and has relay characteristics. Its main function is to expand the control range, sensitivity amplification, signal remote control, monitoring, etc. It is actually an "automatic switch" that uses small currents to control high-current operation ". It plays the role of automatic adjustment, safety protection and conversion circuit in the circuit. It is widely used in remote control, telemetry, communication, automatic control, mechatronics and power electronic equipment. It is one of the most important control components.

-Automotive is the largest field of relay applications, accounting for about 21% of the total market demand for relays. Traditional automotive relays are widely used in control systems such as starting, preheating, cooling, fans, air conditioners, lights, electric fans, wipers, electronic injection, oil pumps, etc. Each car uses an average of 20 relay products, and the price of each relay is 3-10 yuan, based on this calculation, the value of traditional car bicycle relays is 60-200 yuan. In addition to the relays required by traditional vehicles, each new energy vehicle also needs 5-8 high-voltage DC relays, with a unit price of about 400 yuan, and the value of new energy vehicle single relay will reach 2000-3400 yuan, which is more than 10 times that of traditional vehicles.

Globally, there are two main types of supply models.

In the field of new energy vehicle motor systems, due to the high requirements of technical indicators and the need to ensure strict technical confidentiality, large international vehicle manufacturers generally complete the design of the drive system to the manufacture and assembly of motor parts independently, and only some independent motor suppliers can enter the supply chain of their drive systems.

BMW, Toyota, Volkswagen and other mainstream vehicle plants are internal support. Both BMW i3 and i8 are equipped with eDrive hybrid synchronous motors independently developed by BMW and with independent intellectual property rights. Toyota's pruis series hybrid electric vehicles, from the IGBT tube controlled by the motor to the key permanent magnet brushless AC synchronous motor, are all completed at Toyota headquarters. Volkswagen and Nissan's pure electric vehicles also complete all the drive systems and motor components by themselves.

At present, only individual motor factories such as Bosch, Continental, Magna and Mingdian can enter the supply chain of mainstream pure electric vehicles. For example, the Mercedes-Benz smart electric version is equipped with drive motors by EM-motive, a joint venture between Daimler and Bosch. Ford and Magna jointly develop the motor drive system of Ford Focus EV. Continental Group provides a complete set of drive system components for Renault Zoe, Fluence Z.E. and Kangoo Z.E. Three pure electric vehicles, Mingdianshe i-MiEV a matching drive motor for Mitsubishi. In addition, in 2013, Ford teamed up with Schaeffler (Schaeffler), a famous international auto parts manufacturer, to develop a eWheelDrive wheel hub motor pure electric vehicle based on Ford Carnival Huawei as a test vehicle.

The cooperation between Tesla and Tomita Electric can be treated as a special case. First of all, Tesla has had close ties with Taiwan's automobile industry in history, and there is also a certain chance of cooperation with Futian. Tesla was small in its early days and chose to set up a factory in Taiwan to control costs. Some key component design and development institutions are also in Taiwan and rely on Taiwanese companies to provide parts for it. Futian is one of them (major international manufacturers were not willing to cooperate with Tesla in the early days). In 2009, Tesla moved its factory back to the United States because of U.S. policy subsidies and other reasons. Secondly, the drive motor used by Tesla is an AC asynchronous motor, and the manufacturing requirements are not particularly high. Futian Motor was previously a manufacturer specializing in the production of industrial servo motors. It was only after cooperating with Tesla in 2005 that it began to enter the automotive motor industry.

Domestic independent motor factory opportunities, motor and electronic control integration company competitive.

Due to the high cost of synchronous research and development, it is difficult for foreign motor and electronic control manufacturers to enter domestic car factories. Judging from the matching situation of domestic mainstream new energy passenger car motors, except BYD for internal matching, other car factories mainly purchase foreign motors. Compared with domestic commercial vehicle motors, there are relatively few passenger car motor manufacturers. The main passenger car motor manufacturers include Beijing Jingjin, Shanghai Electric Drive, Shanghai Dajun, Dayang Electric, Huayu Electric and Juyi Automation. Among them, Shanghai Electric Drive is the independent passenger car motor manufacturer with the highest market share in China, which can account for 50-60% of the domestic motor control supply.

We believe that the reason why Shanghai Electric Drive can become bigger and stronger is that the company is positioned as a new energy motor electronic control integration manufacturer from the beginning, the leading layout occupies the first-mover advantage, and because the vehicle factory is currently on the motor and electronic control is not separate bidding, so companies with motor electronic control integration research and development capabilities are more expected to be shortlisted.

Although Shanghai Electric Drive is not yet listed, its shareholders are listed companies (Ningbo Yunsheng shares 26.46 per cent) and can share in the proceeds. In addition, some listed companies supply motor stators and rotors to them, which will also benefit indirectly.