Production:
In March, China's total production of power and energy storage batteries reached 177.7 GWh, representing a month-on-month increase of 25.5% and a year-on-year increase of 50.2%. From January to March, cumulative production of power and energy storage batteries in China reached 487.4 GWh, an increase of 49.3% YoY.
Sales:
In March, sales of power and energy storage batteries in China reached 175.1 GWh, up 54.7% month-on-month and 51.6% year-on-year. Among these, power battery sales amounted to 114.7 GWh, accounting for 65.5% of total sales, up 53.9% MoM and 31.1% YoY. In addition, energy storage battery sales reached 60.4 GWh, accounting for 34.5% of total sales, up 56.2% month-on-month and 115.9% year-on-year.
From January to March, cumulative sales of power and energy storage batteries in China reached 437.1 GWh, a year-on-year increase of 52.9%. Among these, cumulative power battery sales amounted to 291.9 GWh, accounting for 66.8% of total sales, up 34.3% YoY; The cumulative energy storage battery sales reached 145.1 GWh, accounting for 33.2% of total sales, up 111.8% YoY.
Exports:
In March, total exports of power and energy storage batteries in China reached 36.1 GWh, up 51.0% month-on-month and 57.1% year-on-year, accounting for 20.6% of monthly sales. Among these, power battery exports amounted to 22.3 GWh, accounting for 61.7% of the total, up 31.9% MoM and 60.2% YoY. Energy storage battery exports reached 13.8 GWh, accounting for 38.3% of total exports, up 96.9% month-on-month and 52.4% year-on-year.
From January to March, cumulative exports of power and energy storage batteries in China reached 84.1 GWh, a year-on-year increase of 36.7%, accounting for 19.3% of cumulative sales. Among these, cumulative power battery exports amounted to 56.8 GWh, accounting for 67.6% of total exports, up 50.3% year-on-year; Cumulative energy storage battery exports reached 27.3 GWh, accounting for 32.4% of total exports, up 15.0% year-on-year.
Installation Volume:
In March, domestic power battery installation volume reached 56.5 GWh, up 114.9% month-on-month but down 0.1% year-on-year. Among these, NCM (ternary) battery installation volume amounted to 10.7 GWh, accounting for 19.0% of total installation volume, up 88.1% MoM and 7.3% YoY. LFP (lithium iron phosphate) battery installation volume reached 45.8 GWh, accounting for 81.0% of total installation volume, up 122.3% MoM but down 1.7% YoY.
From January to March, cumulative domestic power battery installation volume reached 124.9 GWh, a year-on-year decrease of 4.1%. Among these, cumulative NCM battery installation volume amounted to 25.8 GWh, accounting for 20.7% of total installation volume, up 3.3% year-on-year; And LFP battery installation volume reached 99.0 GWh, accounting for 79.3% of total installation volume, down 5.9% YoY.
Edited by Cassie Li, lixiangying@mysteel.com
