China's Power Battery Market Update June and 1H 2024 Data
TapTechNews July 10th news, TapTechNews learned from the China Automotive Power Battery Industry Innovation Alliance that in June, the installed capacity of power batteries in China was 42.8 GWh (about 1.50786 cubic feet), with a year-on-year increase of 30.2% and a month-on-month increase of 7.3%. Among them, the installed capacity of ternary batteries was 11.1 GWh (about 0.39244 cubic feet), accounting for 25.9% of the total installed capacity, with a year-on-year increase of 10.2% and a month-on-month increase of 7.3%; the installed capacity of lithium iron phosphate batteries was 31.7 GWh (about 1.11765 cubic feet), accounting for 74.0% of the total installed capacity, with a year-on-year increase of 39.3% and a month-on-month increase of 7.4%.
From January to June, the cumulative installed capacity of power batteries in China was 203.3 GWh (about 7.17179 cubic feet), with a cumulative year-on-year increase of 33.7%. Among them, the cumulative installed capacity of ternary batteries was 62.3 GWh (about 2.19944 cubic feet), accounting for 30.6% of the total installed capacity, with a cumulative year-on-year increase of 29.7%; the cumulative installed capacity of lithium iron phosphate batteries was 141.0 GWh (about 5.01195 cubic feet), accounting for 69.3% of the total installed capacity, with a cumulative year-on-year increase of 35.7%.
In terms of production, in June, driven by the new energy vehicle market, the combined production of power and other batteries in China was 84.5 GWh (about 3.01478 cubic feet), with a month-on-month increase of 2.2% and a year-on-year increase of 28.7%. From January to June, the cumulative production of power and other batteries in China was 430.0 GWh (about 15.11811 cubic feet), with a cumulative year-on-year increase of 36.9%.
In terms of sales, in June, the sales volume of power and other batteries in China was 92.2 GWh (about 3.25549 cubic feet), with a month-on-month increase of 18.4% and a year-on-year increase of 51.2%. Among them, the sales volume of power batteries was 69.3 GWh (about 2.44604 cubic feet), with a month-on-month increase of 23.3% and a year-on-year increase of 37.0%; the sales volume of other batteries was 22.9 GWh (about 0.80861 cubic feet), with a month-on-month increase of 5.5% and a year-on-year increase of 120.7%. The sales proportions of power batteries and other batteries were 75.2% and 24.8%, respectively. Compared with the previous month, the proportion of power batteries increased by 3.0 percentage points.
From January to June, the cumulative sales volume of power and other batteries in China was 402.6 GWh (about 14.23622 cubic feet), with a cumulative year-on-year increase of 40.3%. Among them, the cumulative sales volume of power batteries was 318.1 GWh (about 11.17195 cubic feet), with a cumulative year-on-year increase of 26.6%; the cumulative sales volume of other batteries was 84.5 GWh (about 3.01478 cubic feet), with a cumulative year-on-year increase of 137.3%. The sales proportions of power batteries and other batteries were 79.0% and 21.0%, respectively. Compared with the same period last year, the proportion of power batteries decreased by 1.2 percentage points.