China’s power battery installed capacity jump 28.4% YoY in Q1 2023

Shanghai (Gasgoo)- In Mar. 2023, China's power battery output reached 51.2GWh, jumping 26.7% year on year, while also rising 23.5% month on month, according to the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Of the power batteries produced last month, 18.2GWh and 32.9GWh were ternary-lithium batteries and lithium iron phosphate (LFP) batteries, up 8.5% and 39.7% from the year-ago period, respectively.

For the first quarter of 2023, there were a total of 130GWh power batteries produced in China, representing a 26.3% year-on-year growth. The year-to-date output of ternary-lithium batteries and LFP batteries reached 45.7GWh (+15.1% YoY) and 84.1GWh (+33.4% YoY), respectively.

BYD Blade Battery; photo credit: BYD

In addition, the country's power battery installed capacity amounted to 27.8GWh in Mar. 2023, growing 29.7% from the previous year, while also increasing 26.7% from the previous month.

To be specific, the installed capacity of ternary-lithium batteries and LFP batteries came in at 8.7GWh and 19GWh last month, up 6.3% and 44.4%, respectively, compared to the year-ago period.

China's cumulative power battery installed capacity in the Jan.-Mar. period leapt 28.4% year over year to 65.9GWh. Notably, the year-to-date capacity of LFP batteries shot up 50.5% over the previous year to 44.9GWh.

In Mar., a total of 39 power battery manufacturers saw their batteries installed onto vehicles, 2 companies fewer than that of the year-ago period.

In terms of the power battery installed capacity in Mar. in China, the top five players, namely, CATL, BYD’s FinDreams Battery, CALB, Gotion High-Tech, and EVE Energy, accounted for 90.2% of the country’s overall volume.

The aforementioned five battery makers also occupied the first five spots on the rankings by the first-quarter power battery installed capacity. The champion CATL made up 44.42% of China’s total year-to-date capacity.

Moreover, there were 8.8GWh made-in-China power batteries exported to overseas markets in Mar. 2023, 77.3% of which were ternary-lithium batteries. The country's power battery export volume amounted to 25.8GWh for the first three months of this year.