Capacity of installed NEV power batteries rose 54% in November

SHANGHAI, Dec 11 (SMM) – The capacity of power batteries installed on new energy vehicles (NEVs) in China rose 54.3% on the month to 6.3GWh in November amid year-end production rush, but the figure remained 25.9% lower from a year ago as the market showed after subsidy cuts, according to data from the Power Battery Application Branch of China Industrial Association of Power Sources.

Lithium iron phosphate (LFP) batteries accounted for most of the month-on-month increase in November, with their capacity up 132.3% from October. 

On an annual basis, capacity of ternary batteries and LFP batteries installed on NEVs fell 30.8% and 24%, respectively, to stand at 3.8GWh and 2.5GWh in November. 

In January to November, the capacity of installed power batteries amounted to 52.5GWh, 20.4% higher from the same period in 2018. Capacity of installed LFP batteries shrank 3.9% on the year, to 15.5GWh, accounting for 29.5% of the total.