电气设备：弗迪电池发布会点评：携超混+快充+CTB技术进军工程机械电动化领域

Industry Investment Rating - The report rates the Electrical Equipment industry as Positive [4] Core Viewpoints - BYD's Blade Battery has officially entered the construction machinery electrification field with the release of three new battery products: the hybrid construction machinery blade battery, the fastest-charging pure electric construction machinery battery, and the CTB construction machinery blade battery [1] - The key highlights of the products include safety, fast charging capability, and extreme working condition adaptability, addressing the pain points of construction machinery electrification such as range and charging issues, and battery performance under complex working conditions [2][10] - The penetration rate of electrification in construction machinery varies significantly across different types, with lighter and fixed-scenario equipment like elevating work platforms and forklifts having higher electrification rates, while heavy-load and complex-condition equipment like excavators have less than 1% electrification penetration [3][16] - With cost reduction, battery performance improvement, and charging infrastructure development, the electrification penetration rate in construction machinery is expected to further increase [3][16] Product Performance and Parameters - Super Hybrid Version: 4C charging rate, 120Wh/kg energy density, 17.3kWh single-pack capacity, 10-minute charging from 20% to 80% SOC [9] - Super Fast Charging Version (Pure Electric): 400A charge/discharge current, 160Wh/kg energy density, 37.7kWh single-pack capacity, 1500V maximum voltage, ≥7000 cycles, 2C fast charging across all temperature ranges [9] - Super Integrated Version: Uses CTB battery technology, 400A charge/discharge current, 320Wh/L volumetric energy density, 97.7kWh single-pack capacity [9] Construction Machinery Electrification Market - In 2023, the domestic construction machinery market sold 1.774 million units, with a 4% YoY growth, where industrial vehicles accounted for 66.2% of the total sales [3][14] - The electrification penetration rate in 2023-2024H1 for elevating work platforms, forklifts, loaders, excavators, and mining trucks was >90%, 67.9%, 9.0%, 0.05%, and 5.4%, respectively [16][17] - BYD, CATL, CALB, and EVE Energy have already made significant strides in the construction machinery battery sector, with BYD collaborating closely with XCMG [3][19][29] Industry Performance - The Electrical Equipment industry has shown a 14% increase in performance as of November 29, 2024, compared to the CSI 300 index [5]