On August 10, the latest data for China’s power battery market was released.
Installed Capacity: In July, China’s power battery installed capacity reached 41.6 GWh, marking a month-on-month (MoM) decrease of 2.9% but a year-on-year (YoY) increase of 29.0%. The installed capacity of ternary batteries was 11.4 GWh, accounting for 27.3% of the total installed capacity, while that of LFP batteries was 30.1 GWh, making up 72.5% of the total.
Production and Sales: In July, the total production of power and other batteries in China was 91.8 GWh, representing a MoM increase of 8.6% and a YoY increase of 33.1%. And the total sales of power and other batteries were 86.3 GWh with a MoM decrease of 6.4%, but a YoY increase of 49.9%.
The top 15 power battery installations in China are shown in the figure below.
Notably, CATL achieved an installed capacity of 19.42 GWh with a market share of 47.3%. Comparing to that of June, the installed capacity increased by 2.24%, reaching a new high since March.
And BYD had an installed capacity of 9.37 GWh with a market share of 22.83%, decreasing by 2.49% from June. This marks the second consecutive month of market share decline for BYD, widening the gap with CATL to 24.47%.
A significant portion of CATL’s growth comes from the installation of LFP batteries. In July, CATL’s installed capacity of LFP batteries reached 11.74 GWh, and it even surpassed CATL’s ternary battery installations, with a market share increase of 1.39% year-on-year.
On the contrary, BYD saw a 2.72% decrease in its market share for LFP batteries, further widening the gap between BYD and CATL. Currently, the proportion of LFP battery installations among companies is gradually increasing:
CALB installed 2.94 GWh, with LFP battery installations at 2.23 GWh;
Gotion High-Tech installed 1.73 GWh, with LFP battery installations at 1.46 GWh;
EVE Energy installed 1.53 GWh, with LFP battery installations at 1.20 GWh.
With innovative technologies, the advantages of LFP batteries in safety and cost are becoming increasingly prominent, potentially making them a new focal point in the battery industry.
Source: WeChat Official Account—电池工业网
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