Production:
In May, the total combined production of power and energy storage batteries in China reached 191.7 GWh, representing a month-on-month increase of 4.2% and a year-on-year increase of 55.2%. From January to May, the cumulative combined production of power and energy storage batteries reached 863.0 GWh, a cumulative year-on-year increase of 51.9%.
Sales:
In May, the sales volume of power and energy storage batteries in China reached 182.2 GWh, up 11.0% MoM and 47.4% YoY. Among this, power battery sales reached 127.0 GWh, accounting for 69.7% of total sales, up 16.6% MoM and 45.2% YoY. Energy storage battery sales reached 55.2 GWh, accounting for 30.3% of total sales, down 0.1% MoM but up 52.7% YoY.
From January to May, cumulative sales of power and energy storage batteries reached 783.4 GWh, a cumulative year-on-year increase of 48.5%. Cumulative power battery sales reached 527.9 GWh, accounting for 67.4% of total sales, up 34.9% year-on-year. And that of energy storage battery sales reached 255.5 GWh, accounting for 32.6% of total sales, up 87.7% year-on-year.
Exports:
In May, total exports of power and energy storage batteries reached 29.3 GWh, down 7.6% month-on-month but up 53.7% year-on-year, representing 16.1% of monthly sales. Among this, power battery exports reached 20.1 GWh, accounting for 68.7% of total exports, down 0.6% month-on-month but up 48.7% year-on-year. Energy storage battery exports reached 9.2 GWh, accounting for 31.3% of total exports, down 19.9% month-on-month but up 66.2% year-on-year.
From January to May, cumulative exports of power and energy storage batteries reached 145.1 GWh, a cumulative year-on-year increase of 41.0%, representing 18.5% of cumulative sales. Among this, cumulative power battery exports reached 97.2 GWh, accounting for 67.0% of total exports, up 47.8% year-on-year. Cumulative energy storage battery exports reached 47.9 GWh, accounting for 33.0% of total exports, up 29.0% year-on-year.
Installations:
In May, China's power battery installations reached 71.9 GWh, up 15.2% month-on-month and 25.9% year-on-year. Among this, NCM (ternary) battery installations reached 13.4 GWh, accounting for 18.6% of total installations, up 15.9% month-on-month and 27.3% year-on-year. LFP (lithium iron phosphate) battery installations reached 58.4 GWh, accounting for 81.2% of total installations, up 14.9% month-on-month and 25.4% year-on-year.
From January to May, cumulative power battery installations reached 259.1 GWh, a cumulative year-on-year increase of 7.3%. Among this, cumulative NCM battery installations reached 50.8 GWh, accounting for 19.6% of total installations, up 13.3% year-on-year. And LFP battery installations reached 208.2 GWh, accounting for 80.4% of total installations, up 6.0% year-on-year.
Edited by Cassie Li, lixiangying@mysteel.com
