China’s power battery installed capacity soars 98.1% YoY in Oct. 2022

Shanghai (Gasgoo)- In Oct. 2022, China's power battery output reached 62.8GWh, soaring 150.1% year on year, while also climbing 6.2% month on month, according to the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Of the power batteries produced last month, 24.2GWh and 38.6GWh were ternary-lithium batteries and lithium iron phosphate (LFP) batteries, up 163.5% and 142.6% from the year-ago period, respectively.

BYD Blade Battery; photo credit: BYD

For the first ten months of 2022, there were a total of 425.9GWh power batteries produced in China, representing a 166.5% year-on-year spike. The year-to-date output of ternary-lithium batteries and LFP batteries reached 171.4GWh (+137.9% YoY) and 254.2GWh (+190.4% YoY), respectively.

Data by the CAPBIIA show that the country's power battery installed capacity amounted to 30.5GWh in Oct., zooming up 98.1% from the previous year, while dipping 3.5% from the previous month.

To be specific, the installed capacity of ternary-lithium batteries and LFP batteries reached 10.8GWh and 19.7GWh last month, surging 55.2% and 133.2%, respectively, compared to the year-ago period.

China's cumulative power battery installed capacity in the Jan.-Oct. period shot up 108.7% year over year to 224.2GWh. Notably, the year-to-date capacity of LFP batteries rocketed 155.6% over the previous year to 136GWh.

Moreover, there were 14.7GWh made-in-China power batteries exported to overseas markets in Oct., 4.3GWh of which were ternary-lithium batteries.

Regarding the Oct. power battery installed capacity, CATL, FinDreams Battery (the EV battery unit of BYD), CALB, and Gotion High-Tech were still the top 4 among China's EV battery players, accounting for 84.97% of the country's total capacity. Compared to the previous month, both EVE Energy and SVOLT moved up two spots to the fifth and seventh places, respectively, while LG Energy Solution was no longer on the top 10 list.

With regard to Jan.-Oct. power battery installed capacity, the top 10 battery makers made up 94.5% of the country's total volume. Of them, CATL, FinDreams Battery, CALB, and Gotion High-Tech still topped others by holding a combined market share of 81.93%.