CAAM Released China NEV Production and Sales, as Well as Power Battery Installed Capacity Data for September

SHANGHAI, Oct 12 (SMM) - In September 2022, China’s production and sales of new energy vehicles continued to maintain rapid growth, reaching 755,000 units and 708,000 units, respectively, an increase of 9.3% and 6.2% month-on-month, 110% and 93.9% year-on-year, according to data from the CAAM. From January to September 2022, the production and sales of new energy vehicles amounted to 4.72 million units and 4.57 million units respectively, a year-on-year increase of 120% and 110%. 

In September, China's power battery sales totalled 46.5GWh, a year-on-year increase of 161.6%. Among them, the sales of ternary batteries were 23.4GWh, accounting for 50.4% of total sales and up 207.1% year-on-year. The sales of lithium iron phosphate batteries were 23GWh, accounting for 49.4% of total sales and an increase of 127.2% year-on-year. 
From January to September, China's power battery sales totalled 367GWh, up 243.8% year-on-year. 

In September, China's power battery installed capacity totalled 31.6 GWh, an increase of 101.6% year-on-year and 14% month-on-month. Among them, the installed capacity of ternary battery was 11.2GWh, accounting for 35.4% of total installed capacity, and rose 82.6% year-on-year and 6.5% month-on-month; the installed capacity of lithium iron phosphate batteries was 20.4GWh, accounting for 64.5% of total, an increase of 113.8% year-on-year and 18.5% month-on-month. 

From January to September, China's power battery installed capacity totalled 193.7GWh, up 110.5% year-on-year. Among them, the installed capacity of ternary batteries was 77.2GWh, accounting for 39.8% of total and up 63.9% year-on-year. The installed capacity of lithium iron phosphate batteries was 116.3GWh, accounting for 60.1% of total and an increase of 159.8% year-on-year.

The CAAM predicts that China’s automobile production and sales will continue to maintain rapid growth in the fourth quarter, and new energy vehicle and automobile exports will extend the strong upward momentum, driven by policy support and sales promotions. Cui Dongshu, secretary general of the CPCA expects that the annual wholesale sales of new energy vehicles this year will reach 6.5 million units, with a penetration rate of about 28%.