China installed EV battery capacity dropped 31.4% YoY in Oct

SHANGHAI, Nov 13 (SMM) – China saw 4.1 GWh of batteries installed to power cars in October, down 31.4% from a year ago but up 3.1% from a month ago, said the China Automotive Battery Industry Innovation Alliance on Monday November 11.

Ternary batteries accounted for 2.9 GWh, down 26% year on year, while capacity of installed lithium iron phosphate (LFP) batteries declined 41.7% during the same period but grew 12% from September to 1.1 GWh.

For the first 10 months of 2019, installed power batteries amounted to 46.2 GWh, up 33.2% from the same period last year, with ternary batteries taking up 32 GWh or 69.2%.

Capacity of installed ternary batteries in January-October rose 52.4% year on year, and that of LFP batteries inched up 1.2% to 13 GWh.

Data from the China Association of Automobile Manufacturers (CAAM) released on the same day showed that China’s production of new energy vehicles dropped 35.4% from a year ago to 95,000 units in October, marking a fourth straight month of decline.

NEV production in January-October stood at 983,000 units, up 11.7% from the same period last year.