Shanghai (ZXZC)- In May, the total production volume of power batteries in China reached 56.6 GWh, marking a year-on-year increase of 57.4% and a month-on-month rise of 20.4%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

The share of production was split between ternary-lithium batteries and lithium iron phosphate (LFP) batteries. Ternary-lithium batteries accounted for 32.9% of the total output in the past month, generating 18.6 GWh, which reflected a year-on-year and month-on-month growth of 11.9% and 5.8% respectively. On the other hand, LFP batteries dominated the output with 37.8 GWh, 66.9% of the total, boasting an impressive year-on-year soar of 96.7% and a month-on-month surge of 29.0%.

BYD Blade Battery; photo credit: BYD

From January to May, the cumulative production of power batteries in China amounted to 233.5 GWh, showing an overall increase of 34.7% compared to the same period last year. Of this total, ternary-lithium batteries contributed 81.9 GWh, approximately 35.1% of the total output, and witnessed a year-on-year growth of 17.0%. The lion's share, however, was claimed by LFP batteries, with a total production of 151.3 GWh, comprising 64.8% of the total, and presenting a year-on-year increase of 46.7%.

Turning to installed capacity in May, China's power battery installed capacity amounted to 28.2 GWh, a 52.1% rise compared to last year and a 12.3% increment from the previous month. Specifically, ternary-lithium battery installed capacity were 9.0 GWh, accounting for 32.0% of the country’s total installed capacity, indicating a year-on-year increase of 8.7% and a month-on-month increase of 12.8%. Meanwhile, LFP battery installed capacity stood at 19.2 GWh, 67.8% of total installed capacity, and displayed a year-on-year upsurge of 87.2% and a month-on-month growth of 11.8%.

In the first five months of the year, China's cumulative power battery installed capacity reached 119.2 GWh, a year-on-year improvement of 43.5%. The ternary-lithium batteries contributed 37.9 GWh to this total, approximately 31.8%, reflecting a year-on-year growth of 11.4%. However, LFP batteries continued to dominate the market with total installed capacity of 81.2 GWh, 68.1% of the total, and showed a significant year-on-year leap of 65.9%.

In the new energy vehicle (NEV) market in May, a total of 35 power battery companies achieved shipment matching, two fewer than the same period last year. The top three, five, and ten power battery companies accounted for 22.5 GWh, 24.9 GWh, and 27.5 GWh of total battery installed capacity, respectively, representing 79.8%, 88.1%, and 97.4% market share.

In the January-May period, a total of 43 power battery companies in China's NEV market had batteries installed onto complete vehicles. The top three, five, and ten companies in the sector respectively contributed 97.2 GWh, 107.2 GWh, and 116.5 GWh, comprising 81.6%, 89.9%, and 97.7% of total installed capacity.

By year-to-date installed capacity of power batteries, CATL outshone other companies with a capacity of 51.18%, while the runner-up BYD’s FinDreams recorded a number of 36.4GWh to claim a 30.53% share.

On the export front, in May, the total battery exports of Chinese power battery enterprises amounted to 11.3 GWh. Ternary-lithium batteries led the export market with 7.6 GWh, accounting for 67.2% of total exports. LFP battery exports, however, reached 3.7 GWh, making up 32.6% of total exports.

In terms of cumulative figures, between January and May, battery exports from China's power battery enterprises hit 45.9 GWh. Of this, ternary-lithium batteries accounted for the bulk with 32.8 GWh, approximately 71.4% of the total exports. LFP battery exports, in contrast, totaled 13.0 GWh, making up 28.4% of all exports.