China’s power battery installed capacity in July 2023 grows 33.3% YoY

Shanghai (Gasgoo)- In July, China's production volume of power batteries reached a total of 61GWh, marking a year-on-year jump of 28.9% and a month-on-month rise of 1.5%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Among them, the production of ternary-lithium batteries amounted to 20.4Wh in July, accounting for 33.4% of the total power battery production, with a year-on-year increase of 17.2% and a month-on-month growth of 15.2%. The production of lithium iron phosphate (LFP) batteries reached 40.5GWh, accounting for 66.4% of the total power battery output, showing a significant year-on-year leap of 35.6%, but a month-on-month decline of 4.1%.

BYD Blade Battery; photo credit: BYD

During the period from January to July of this year, China's cumulative production of power batteries reached 354.6GWh, with a year-on-year growth of 35.4%. Ternary-lithium batteries accounted for 120GWh of the total Jan.-Jul. production, showing a year-on-year rise of 13.3%. The year-to-date production of LFP batteries reached 234GWh, marking a year-on-year hike of 50.3%.

In July, the installation volume of power batteries in complete vehicles in China reached 32.2GWh, showing a year-on-year increase of 33.3%, but a month-on-month drop of 2%. Ternary-lithium batteries accounted for 10.6GWh of the total installation volume, representing a year-on-year increase of 7.4% and a month-on-month growth of 4.8%. The installation volume of LFP batteries reached 21.7GWh, indicating a year-on-year spike of 51.1%, but a month-on-month fall of 4.7%.

From January to July of this year, there were 184.4GWh power batteries installed onto complete vehicles in China, showing a year-on-year growth of 37.3%. Ternary-lithium batteries accounted for 58.6GWh of the total installation volume, reflecting a year-on-year growth of 5.6%. The installation volume of LFP batteries reached 125.6GWh, showing a year-on-year leap of 59.6%.

In July, a total of 36 power battery companies in China saw their batteries installed onto new energy vehicles, one fewer than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 80.7%, 88.7%, and 97.2% of the total installation, with a volume of 26GWh, 28.6GWh, and 31.3GWh, respectively.

For the first seven months of 2023, a total of 48 power battery companies in China had their batteries installed onto complete vehicles, an increase of 3 compared to the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 81.4%, 89.6%, and 97.4% of the total installation, with a volume of 150GWh, 165.3GWh, and 179.6GWh, respectively.

In July, power battery companies in China exported a total of 11.2GWh batteries. Ternary-lithium batteries accounted for 7.2GWh of the total exports, while the exports of LFP batteries reached 3.9GWh.

For the Jan.-Jul. period of this year, power battery companies in China exported a total of 67.1GWh batteries. Ternary-lithium batteries accounted for 46.6GWh of the total exports, while the exports of LFP batteries amounted to 20.2GWh.