In June, China production of energy storage battery cells slightly increased, mostly contributed by leading companies

In June 2024, China's energy storage battery cell production reached 25.86 GWh, up 1% MoM and 31% YoY. Although June was a critical period for grid connection in the domestic energy storage market, battery cell manufacturers' orders diverged significantly: leading companies had full orders, with production and sales slightly up from May; while mid-to-lower tier companies reduced production due to declining orders and expectations of lower energy storage demand in July. Overall, driven by the increase in scheduled production from leading companies, energy storage battery cell production saw a slight uptick.
In July, as the mid-year grid connection period ends domestically, energy storage market demand is expected to decline, potentially leading to a decrease in energy storage battery cell production. China's energy storage battery cell production in July is expected to be 23.19 GWh, down 10% MoM but still up 17% YoY.