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Production and Sales Volume: From January to December 2023, the cumulative production of power and other batteries in China reached 778.1 GWh, with a year-on-year increase of 42.5%. The cumulative sales volume of power batteries in China was 616.3 GWh, showing a year-on-year growth of 32.4%.

ranking-of-chinas-power-battery-companies-by-shipment-volume-in-2023-electrification-solutions-official

Installed Capacity: In the same period, the cumulative installed capacity of power batteries in China reached 387.7 GWh, marking a year-on-year growth of 31.6%. A total of 52 power battery enterprises achieved vehicle matching, a reduction of 5 companies compared to the same period last year.

However, it is worth noting that to further expand their market presence, South Korean battery companies, including LG Energy Solution, have started to deploy lithium iron phosphate batteries. The goal of these companies is to achieve an energy density for this battery that is 20% higher than the one CATL provides for Tesla Model 3.

Additionally, solid-state battery company Welion New Energy has achieved a breakthrough in installed capacity, reaching 0.80 GWh.

Source: WeChat Official Account—电池工业网

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