China’s electric vehicle battery market experienced a significant surge in August, with total installed capacity reaching 79.0 GWh. This represents a robust year-on-year increase of 26.3%, according to data from the China Automotive Power Battery Industry Innovation Alliance. The month also saw a 5.9% rise in installed capacity compared to July.
Battery Type Breakdown
Delving deeper into the numbers, ternary lithium batteries accounted for 11.0 GWh of the total installed capacity, making up 14.0%. While this saw a slight decrease of 1.0% from the previous month, it marked a modest year-on-year growth of 0.9%.
In contrast, lithium iron phosphate (LFP) batteries demonstrated remarkable growth, capturing 85.6% of the market share with 67.6 GWh installed. This segment experienced a healthy 7.0% month-on-month increase and an impressive 31.0% year-on-year jump.
Year-to-Date Performance
Looking at the cumulative figures for the first eight months of the year, the total installed capacity for power batteries reached 489.1 GWh. This indicates a substantial year-to-date growth of 17.0%.
Within this year-to-date data, ternary batteries have accumulated 85.6 GWh, representing 17.5% of the total and showing a 10.6% year-on-year increase. LFP batteries have been the dominant force, accumulating 402.7 GWh, which accounts for 82.3% of the total and reflects a strong 18.3% year-on-year growth.
Production Figures
The production of both power and energy storage batteries in China also saw impressive gains in August. The combined output reached 237.0 GWh, a significant 8.8% increase from July and a remarkable 69.8% surge compared to the same period last year.
For the period from January to August, the cumulative production of power and energy storage batteries stood at 1523.9 GWh, marking an outstanding year-on-year increase of 57.0%.
Market Leader
Ningde Times continues to assert its dominance in the power battery market. The company commands a leading position with a substantial market share of 41.45%, underscoring its strong influence in the rapidly expanding EV battery sector.
