China’s power battery installed capacity in April 2024 surges 40.9% YoY

Shanghai (Gasgoo)- In April 2024, China's installed capacity of power batteries reached 35.4 GWh, marking a year-on-year rise of 40.9% and a month-on-month surge of 1.4%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Among these, the installed capacity of ternary-lithium battery last month was 9.9 GWh, accounting for 28% of the total installed capacity, representing a year-on-year growth of 24.1% and a month-on-month decrease of 12.2%. The LFP battery installed capacity reached 25.5GWh, making up 71.9% of the total installed capacity, witnessing a year-on-year leap of 48.7% and a month-on-month dip of 7.8%.

During the period from January to April, China's cumulative installed capacity of power batteries reached 120.6GWh, representing a year-on-year increase of 32.6%. To be specific, Ternary-lithium battery sector recorded a volume of 40.8GWh, accounting for 33.8% of the total production, and marking a year-on-year growth of 41.2%. Meanwhile, the year-to-date installed capacity of LFP batteries reached 79.8GWh, constituting 66.1% of the total installed capacity, and indicating a year-on-year jump of 28.6%.

In April, the total production of power and other types of batteries saw a month-on-month upturn of 3.2% and a year-on-year surge of 60%, reaching 78.2GWh.

From January to April 2024, China's output of power and other batteries also soared 40.5% on a year-on-year basis to 262.8GWh.

Last month, the total sales of power and other batteries in China reached 73.5GWh, representing a slight month-on-month growth of 0.3% and a year-on-year jump of 57%. The sales of power batteries amounted to 55.1GWh, accounting for 75% of the total, indicating a month-on-month fall of 11.5% and a year-on-year growth of 28.5%.

For the first four months of 2024, the total sales of power and other batteries in China reached 241.2GWh, jumping 41.4% year over year. Among these, the cumulative sales of power batteries amounted to 201.3GWh, comprising 83.5% of the total and marking a year-on-year growth of 33.4%.

BYD Blade Battery; photo credit: BYD

In April, China's exports of power and other types of batteries stood at 12.7GWh, marking a month-on-month growth of 3.4% and a year-on-year increase of 28.5%, taking up 17.3% of the total sales for the month. Among these, power battery exports added up to 9GWh, representing 70.9% of the total, displaying a month-on-month shrink of 24.3% and inched up by 1.7% year on year.

In the first four months of 2024, China exported a total of 41.5GWh power and other batteries, occupying 17.4% of the total year-to-date sales, indicating a year-on-year growth of 5.5%. Among these, the Jan.-Apr. export volume of power batteries reached 37.1GWh, accounting for 89.4% of the total exports, logging a year-on-year rise of 8.2%.