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Recently, the Ministry of Industry and Information Technology (MIIT) released the Operation Status of China’s Lithium-ion Battery Industry in 2023. The output of power lithium-ion batteries in 2023 reached 675 GWh, representing a year-on-year increase of 23.65% compared to 2022 (545.9 GWh).

While production is still growing, the growth momentum has significantly declined, with the growth rate plummeting by 84% — the production of power lithium-ion batteries in 2022 increased by 148.5% compared to 2021. Data also indicates a significant decrease in the prices of lithium-ion battery industry products throughout 2023, with the prices of battery cells and battery-grade lithium salts dropping by over 50% and 70%, respectively.

According to information released on the MIIT website in 2023, China’s lithium-ion battery industry continued its growth trend. Based on enterprise information announced in lithium-ion battery industry standards and calculations by industry associations, the total output of lithium-ion batteries nationwide exceeded 940 GWh, representing a 25% year-on-year increase, with the industry’s total output value surpassing approximately $194.5 billion.

chinas-power-battery-production-growth-rate-plummets-by-84-percent-2

In the battery segment, the production of consumer-type, power-type, and energy storage-type lithium-ion batteries from January to December was 80 GWh, 675 GWh, and 185 GWh, respectively, with the installed capacity of lithium-ion batteries (including new energy vehicles and new types of energy storage) exceeding 435 GWh. Exports continued to grow, with the total lithium-ion battery exports nationwide reaching $63.5 billion from January to December, representing a year-on-year increase of over 33%.

In the first-level materials segment, the production of cathode materials, anode materials, separators, and electrolytes from January to December reached 2.3 million tons, 1.65 million tons, 15 billion square meters, and 1 million tons, respectively, all with growth rates exceeding 15%.

In the second-level materials segment, the production of lithium carbonate and lithium hydroxide from January to December was approximately 463,000 tons and 285,000 tons, respectively, with the average prices of battery-grade lithium carbonate and lithium hydroxide (micro-powder grade) being $35,837/ton and 37,920 yuan/ton, respectively.

Source: WeChat Official Account—电动知家

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