China’s power battery installed capacity in August rise 25.7% YoY, 8.2% MoM

Shanghai (Gasgoo)- In August, China's production volume of power batteries and energy storage batteries totaled 73.3GWh, marking a year-on-year leap of 46.8% and a month-on-month rise of 7.4%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA). Power batteries accounted for 87.6% of the monthly total production.

For the first eight months of this year, there were 456.2GWh power batteries and energy storage batteries produced across China, 92% of which were contributed by power batteries. The year-to-date production volume surged 46.3% over the previous year.

BYD Blade Battery; photo credit: BYD

In August, the installation volume of power batteries in complete vehicles in China reached 34.9GWh, showing a year-on-year increase of 25.7% and a month-on-month rise of 8.2%. Ternary-lithium batteries accounted for 10.8GWh of the total installation volume, representing a year-on-year increase of 2.7% and a month-on-month growth of 2.3%. Meanwhile, the installation volume of LFP batteries reached 24.1GWh, indicating a year-on-year jump of 39.7% and a month-on-month growth of 11%.

From January to August of this year, there were 219.2GWh power batteries installed onto complete vehicles in China, showing a year-on-year growth of 35.3%. Ternary-lithium batteries accounted for 69.4GWh of the total installation volume, reflecting a year-on-year growth of 5.2%. The installation volume of LFP batteries reached 149.6GWh, marking a year-on-year spike of 56%.

In August, a total of 33 power battery companies in China saw their batteries installed onto new energy vehicles, four fewer than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 80.9%, 88%, and 97.5% of the total installation, with a volume of 28.2GWh, 30.7GWh, and 34GWh, respectively.

For the first eight months of 2023, a total of 48 power battery companies in China had their batteries installed onto complete vehicles, only one company more than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 81.3%, 89.4%, and 97.5% of the total installation, with a volume of 178.3GWh, 196GWh, and 213.7GWh, respectively.

In August, China's combined sales of power and energy storage batteries reached 65GWh, marking a 13.3% month-on-month increase. Among these, power battery sales amounted to 55.1GWh, showing a 3.7% month-on-month growth, while energy storage battery sales reached 9.9GWh, experiencing a remarkable 131.7% month-on-month hike.

From January to August of this year, the cumulative sales of power and energy storage batteries in China added up to 411.1GWh. Within this figure, power battery sales accounted for 364.9GWh, while energy storage battery sales reached 46.2GWh.

In August, China's total exports of power and energy storage batteries reached 12.5GWh, marking an impressive 142.2% year-on-year soar and a modest 0.3% month-on-month growth.

From January to August, China's cumulative exports of power and energy storage batteries amounted to 87.9 GWh, reflecting a remarkable 163.2% year-on-year spike.