China’s power battery installed capacity in Sept. grow 15.1% YoY, 4.4% MoM

Shanghai (Gasgoo)- In September 2023, China's installed capacity of power batteries reached 36.4GWh, marking a year-on-year increase of 15.1% and a month-on-month growth of 4.4%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Among these, the ternary-lithium battery installed capacity was 12.2GWh last month, accounting for 33.6% of the total, with a year-on-year increase of 9.1% and a month-on-month increase of 13.2%. The lithium iron phosphate battery (LFP battery) installed capacity reached 24.2GWh, making up 66.4% of the total, and it saw a year-on-year growth of 18.6% and a slight month-on-month increase of 0.6%.

From January to September, China's cumulative installed capacity of power batteries reached 255.7GWh, with a year-on-year jump of 32%. To be specific, the ternary-lithium battery installed capacity accumulated to 81.6GWh, accounting for 31.9% of the total, with a year-on-year increase of 5.7%. The LFP battery installed capacity reached 173.8GWh, making up 68.0% of the total and showing a year-on-year surge of 49.4%.

In September, a total of 33 power battery companies in China saw their batteries installed onto new energy vehicles, three fewer than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 76.5%, 85.6%, and 97.5% of the total installation, with a volume of 27.8GWh, 31.2GWh, and 35.5GWh, respectively.

For the first nine months of 2023, a total of 49 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 80.6%, 88.8%, and 97.5% of the total installation, with a volume of 206.1GWh, 227.1GWh, and 249.2GWh, respectively.

In September, the total production of power and energy storage batteries in China reached 77.4GWh, with a month-on-month growth of 5.6% and a year-on-year increase of 37.4%. Power batteries accounted for approximately 90.3% of the total.

From January to September, the cumulative production of power and energy storage batteries in China amounted to 533.7GWh, with a year-on-year leap of 44.9%. Of those, power batteries accounted for roughly 92.1% of the total.

In addition, the total sales of power and energy storage batteries in China reached 71.6GWh last month, with a month-on-month growth of 10.1%. Among these, power battery sales were 60.1GWh, accounting for 84.0%, with a month-on-month increase of 9.2% and a year-on-year increase of 29.3%. Energy storage battery sales reached 11.5GWh, making up 16.0% of total sales and showing a month-on-month increase of 15.0%.

Photo credit: CATL

For the first nine months of this year, the cumulative sales of power and energy storage batteries in China reached 482.6GWh. Power battery sales accumulated to 425.0GWh, accounting for 88.0% of total year-to-date sales and showing a year-on-year increase of 15.7%. Energy storage battery sales reached 57.6GWh, making up 12.0%.

In September, China exported a total of 13.3GWh of power and energy storage batteries. Among these, power battery exports were 11.0GWh, accounting for 82.9%, with a month-on-month growth of 3.8% and a year-on-year increase of 50.5%. Energy storage battery exports were 2.3GWh, making up 17.1% and showing a month-on-month increase of 23.3%.

For the Jan.-Sept. period, the cumulative exports of power and energy storage batteries in China reached 101.2GWh. Power battery exports accumulated to 89.8GWh, accounting for 88.7%, with a remarkable year-on-year surge of 120.4%. Energy storage battery exports reached 11.4GWh, making up 11.3% of total exports.