According to March 2025 data released by the China Power Battery Industry Innovation Alliance（CABIA）, China's power battery installations reached 56.6 GWh that month, marking a 62.3% increase from the previous month and a 61.8% year-on-year growth.
Ternary battery installations totaled 10.0 GWh, representing 17.7% of the total. This reflects a 55.2% month-on-month surge but an 11.6% year-on-year contraction. LFP battery installations stood at 46.6 GWh, capturing 82.3% of the total market, with a 63.9% monthly increase and a 97.0% annual leap.
In the first quarter of 2025, China's power battery installations accumulated to 130.2 GWh, achieving a 52.8% year-on-year expansion. Ternary batteries contributed 25.0 GWh (19.2% share), down 19.0% annually, while LFP batteries dominated with 105.2 GWh (80.8% share), surging 93.6% year-on-year.
In March, the top 15 Chinese power battery companies by installations were: CATL, BYD, CALB, Gotion High-Tech, EVE Energy, 蜂巢能源 (SVOLT), 欣旺达 (Sunwoda), LG Energy Solution, 瑞浦兰钧 (REPT Energy), 正力新能 (Zenergy), 极电新能源 (JDL New Energy), 因湃电池 (Inpai Battery), 多氟多 (Dofluoride), 耀宁新能源 (Yaoning New Energy), and 远航锦锂 (Yuanhang Jinli). CATL maintained its lead with 23.84 GWh installations, though its market share has declined for two consecutive months. BYD secured second place with 13.79 GWh shipments, further expanding its market presence. Significant shifts occurred in company rankings, despite the overall month-on-month growth in installations. The rapid market expansion has amplified performance gaps between manufacturers. Notably, Yaoning New Energy debuted in the top 15 list.
The LFP battery market continues to break records, with its March installations claiming 82.3% of the total—the highest ever recorded and the second consecutive monthly gain.
This trend is mirrored globally, as international automakers like Tesla, Volkswagen, BMW, Mercedes-Benz, Renault, Stellantis, General Motors, and Hyundai are actively adopting or planning to implement LFP batteries.
In a strategic pivot, LG Energy Solution—formerly known for ternary battery production—has partnered with China's Longpan Technology as its LFP supplier. The two companies amended their supply agreement to increase LFP cathode material procurement from Longpan's subsidiary Changzhou Lithium Source to 260,000 tons by 2028, up from the original 160,000 tons. Additionally, Longpan Technology announced that its tier-3 subsidiary Lithium Source (Indonesia) will issue 255,930.64 new shares to LG Energy Solution for $15.97 million, granting LG a 20% post-issuance equity stake.
SMM New Energy Industry Research Department
Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Jie Wang 021-51595902
Yang Xu 021-51666760
Boling Chen 021-51666836
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