SHANGHAI, Oct 13 (SMM) - According to data from the China Automotive Power Battery Industry Innovation Alliance, China's power battery production and installed capacity reached 23.17 Gwh and 15.70 Gwh, respectively in September, both setting historical records. The demand continues to improve amid strong demand from the downstream new energy vehicle sector.
In market segment, China's total output of power battery reached 23.17 Gwh in September, the first time when the monthly output exceeded 20 Gwh, with an increase of 18.9% on the month and 168.9% from the previous year. Besides, it is also the seventh consecutive month of growth since February this year.
In terms of total production, the output of ternary battery reached 9.6GWh in September, a significant increase of 102.6% from last year and up 15.1% from August, which also set a new high since last December. However, compared to the overall growth rate of 18.9% in battery production for the month, its growth rate is still relatively slow.
On the other hand, lithium iron phosphate (LFP) battery production reached 13.5Gwh in the month, up 252.0% YoY and 21.9% on the month, which outperformed the whole market. It is worth noting the market shares of LFP batteries have been on the rise from 56.9% in August to 58.3% in September.
In terms of installed capacity, the installed capacity of China’s power battery reached 15.7GWh in September, up 138.6% year-on-year and 25.0% month-on-month, growing for the fifth consecutive month. Among them, the installed capacity of ternary battery rebounded to 6.14Gwh in September after falling for two months, up 15% on the month and 45.6% from the previous year. The installed capacity of LFP battery stood at 9.54Gwh in September, an increase of 309.3% on the year and 32.26% month-on-month, which was faster than the growth rate in August (24.42%) and July (13.39%).
According to China Association of Automobile Manufacturers, China's new energy vehicles’ sales stood at 357,000 units in September, ring 11.4% on the month. The upward trend has been increasingly obvious. Meanwhile, a number of star models such as Tesla model 3, model Y, Xiaopeng p7, etc. has all launched the LFP version, so as to obtain a competitive advantage by lowing the prices. As such, the production and installed capacity of LFP battery continued to move up.