China’s power battery installed capacity in Nov. grows 31% YoY, 14.5% MoM

Shanghai (Gasgoo)- In November 2023, China's installed capacity of power batteries reached 44.9GWh, marking a year-on-year jump of 31% and a month-on-month growth of 14.5%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Among these, the ternary-lithium battery installed capacity was 15.7GWh last month, accounting for 35% of the total, and representing a year-on-year surge of 42.4% and a month-on-month rise of 27.5%. The lithium iron phosphate battery (LFP battery) installed capacity reached 29.1GWh, making up 64.9% of the total, and seeing a year-on-year growth of 26% and a month-on-month increase of 8.5%.

From January to November, China's cumulative installed capacity of power batteries reached 339.7GWh, with a year-on-year jump of 31.4%. To be specific, the ternary-lithium battery installed capacity accumulated to 109.6GWh, accounting for 32.3% of the total volume and reflecting a year-on-year increase of 10.7%. The year-to-date LFP battery installed capacity reached 229.8GWh, making up 67.6% of the total and showing a year-on-year surge of 44.4%.

In November, a total of 37 power battery companies in China saw their batteries installed onto new energy vehicles, five fewer than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 73.8%, 83.1%, and 96.2% of the total installation, with a volume of 33.1GWh, 37.3GWh, and 43.2GWh, respectively.

For the first eleven months of 2023, a total of 49 power battery companies in China had their batteries installed onto complete vehicles, 7 companies fewer than that of the same period last year. The top 3, top 5, and top 10 power battery companies accounted for 79.5%, 88%, and 97.2% of the total installation, with a volume of 270.1GWh, 299.1GWh, and 330.1GWh, respectively.

In November, the total production volume of power and energy storage batteries in China reached 87.7GWh, with a slight month-on-month growth of 13.4% and a year-on-year spike of 40.7%.

From January to November, the cumulative production of power and energy storage batteries in China amounted to 698.7GWh, indicating a year-on-year leap of 41.6%.

BYD Blade Battery; photo credit: BYD

In addition, the total sales of power and energy storage batteries in China reached 84.2GWh last month, with a month-on-month growth of 12.3%. Among these, power battery sales were 68.1GWh, accounting for 80.9% of the total, and displaying a month-on-month increase of 11.6% and a year-on-year growth of 22.6%. Energy storage battery sales reached 16GWh, making up 19.1% of the total sales and showing a month-on-month increase of 15.1%.

For the first eleven months of this year, the cumulative sales of power and energy storage batteries in China reached 641.8GWh. Power battery sales accumulated to 554.1GWh, accounting for 86.3% of the total year-to-date sales and showing a year-on-year jump of 35.1%. Energy storage battery sales totaled 87.6GWh, making up 13.7% of the total volume.

In November, China exported a total of 17.9GWh power and energy storage batteries, reflecting a 23.3% month-on-month increase and accounting for 21.3% of the country’s total power battery sales. Among these, power battery exports were 13GWh, indicating a month-on-month growth of 13.5% and a year-on-year jump of 37.8%. Energy storage battery exports were 4.9GWh, showing a month-on-month spike of 59.7%.

For the Jan.-Nov. period, China's cumulative exports of power and energy storage batteries reached 133.6GWh. Power battery exports accumulated to 114.2GWh, accounting for 85.5% of the total export volume and showing a remarkable year-on-year soar of 94.6%. Year-to-date energy storage battery exports reached 19.4GWh, making up 14.5% of the total exports.