China’s power battery installed capacity in Apr. 2023 surges YoY, but drops MoM

Shanghai (Gasgoo)- In Apr. 2023, China's power battery output reached 47GWh, jumping 38.7% year on year, but dipping 8.3% month on month, according to the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Of the power batteries produced last month, 17.6GWh and 29.3GWh were ternary-lithium batteries and lithium iron phosphate (LFP) batteries, up 34.9% and 41.2% from the year-ago period, respectively.

BYD Blade Battery; photo credit: BYD 

For the first four months of 2023, there were a total of 176.9GWh power batteries produced in China, representing a 28.7% year-on-year growth. The year-to-date output of ternary-lithium batteries and LFP batteries reached 63.3GWh (+18.6% YoY) and 113.4GWh (+35.2% YoY), respectively.

In addition, the country's power battery installed capacity amounted to 25.1GWh in Apr. 2023, growing 89.4% from the previous year, but shrinking 9.5% from the previous month.

To be specific, the installed capacity of ternary-lithium batteries and LFP batteries came in at 8GWh and 17.1GWh last month, up 83.5% and 92.7%, respectively, compared to the year-ago period.

China's cumulative power battery installed capacity in the Jan.-Apr. period leapt 41% year over year to 91GWh. Notably, the year-to-date capacity of LFP batteries shot up 60.2% over the previous year to 62GWh.

In Apr., a total of 36 power battery manufacturers saw their batteries installed onto vehicles, 2 companies more than that of the year-ago period.

In terms of the power battery installed capacity in Apr. in China, the top five players, namely, CATL, BYD’s FinDreams Battery, CALB, EVE Energy, and Gotion High-Tech accounted for 88.8% of the country's overall volume.

The aforementioned five battery makers also occupied the first five spots on the rankings by the Jan.-Apr. power battery installed capacity. However, Gotion High-Tech ranked one spot higher than EVE Energy with a slight advantage. The champion CATL made up 43.43% of China’s total year-to-date capacity.