China's power battery installed capacity surges 94.1% YoY in Feb. 2025, despite MoM dip

Shanghai (Gasgoo)- In February 2025, China's power battery installed capacity reached 34.9 GWh, reflecting a 10.1% month-on-month decline but a 94.1% year-on-year surge, according to the China Automotive Power Battery Industry Innovation Alliance ("CAPBIIA").

Among them, ternary lithium batteries accounted for 6.4 GWh (18.5% of the total), down 24.6% from January and 7.2% year-on-year. Meanwhile, lithium iron phosphate (LFP) batteries got 28.4 GWh installed, making up 81.5% of the total, with a 6% month-on-month decline but a 158% year-on-year spike.

China's new energy vehicle (NEV) market in February saw 38 power battery companies registering installed capacity, two fewer than the same period last year. The top three, top five, and top ten battery makers contributed 25.4 GWh, 28.8 GWh, and 32.5 GWh, respectively, representing 73%, 82.7%, and 93.2% of the overall installed capacity. The share of the top ten fell 3.5 percentage points year on year.

In the first two months of 2025, China's cumulative power battery installed capacity reached 73.6 GWh, marking a 46.5% year-on-year leap. Ternary batteries accounted for 15 GWh (20.4% of the total), down 23.3% year-on-year, while LFP batteries saw 58.6 GWh installed, representing 79.6% of the total and a 199.9% year-on-year hike.

During the same period, 41 power battery makers in China had their batteries installed onto vehicles, one more than the year-ago period. The top three, top five, and top ten battery manufacturers recorded 54.9 GWh, 61.8 GWh, and 69.4 GWh, respectively, capturing 74.5%, 84%, and 94.3% of the total installed capacity.

On the production side, China's total battery output (including power and other battery types) in February stood at 100.3 GWh, down 7% month-on-month but up 128.2% year-on-year. Over January and February, total battery production reached 208.1 GWh, reflecting an 89.2% year-on-year soar.

Battery sales in February amounted to 90 GWh, rising 12% from January and also zooming up 140.7% year-on-year. Power battery sales reached 66.9 GWh, comprising 74.3% of total sales, with a 6.4% month-on-month increase and 98.8% year-on-year surge.

As for the Jan.-Feb. period, total battery sales stood at 170.4 GWh, up 80.3% year-on-year. Of those, power battery sales reached 129.8 GWh, making up 76.2% of total sales, with a 54.3% year-on-year soar.

China's battery exports also saw strong growth. In February, total battery exports stood at 21.1 GWh, representing 23.5% of total sales, with a 21% month-on-month increase and a 144.7% year-on-year spike. Power battery exports reached 12.8 GWh (60.6% of total exports), rising 15.2% from January and 51.4% year-on-year.

Regarding the year-to-date performance, total battery exports reached 38.6 GWh, up 102.2% year-on-year, accounting for 22.6% of overall battery sales. Power battery exports amounted to 23.9 GWh (62% of total exports), jumping 28.3% from the previous year.