China’s power battery installed capacity zooms up 60.4% YoY in Feb. 2023

Shanghai (Gasgoo)- In Feb. 2023, China's power battery output reached 41.5GWh, jumping 30.5% year on year, while also surging 47.1% month on month, according to the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Of the power batteries produced last month, 14.6GWh and 26.8GWh were ternary-lithium batteries and lithium iron phosphate (LFP) batteries, up 25% and 33.7% from the year-ago period, respectively.

BYD Blade battery; photo credit: BYD

For the first two months of 2023, there were a total of 69.6GWh power batteries produced in China, representing a 13.3% year-on-year growth. The year-to-date output of ternary-lithium batteries and LFP batteries reached 24.4GWh (+8.5% YoY) and 45.1GWh (+16.2% YoY), respectively.

In addition, the country's power battery installed capacity amounted to 21.9GWh in Feb. 2023, soaring 60.4% from the previous year, while also leaping 36% from the previous month.

To be specific, the installed capacity of ternary-lithium batteries and LFP batteries came in at 6.7GWh and 15.2GWh last month, growing 15% and 95.3%, respectively, compared to the year-ago period.

China's cumulative power battery installed capacity in the Jan.-Feb. period rose 27.5% year over year to 38.1GWh. Notably, the year-to-date capacity of LFP batteries shot up 55.4% over the previous year to 25.9GWh.

In Feb., a total of 39 power battery manufacturers saw their batteries installed onto vehicles, 4 companies more than that of the year-ago period.

In terms of the power battery installed capacity in Feb. in China, the top five players, namely, CATL, BYD’s FinDreams Battery, CALB, Gotion High-Tech, and EVE Energy, accounted for 92.2% of the country’s overall volume.

The aforesaid five battery makers also occupied the first five spots on the rankings by the Jan.-Feb. power battery installed capacity. The champion CATL made up 44.04% of China’s total year-to-date capacity.

Moreover, there were 9.4GWh made-in-China power batteries exported to overseas markets in Feb. 2023, 69.6% of which were ternary-lithium batteries. The country's power battery export volume amounted to 17.4GWh for the first two months of this year.