On February 17, the China Automotive Power Battery Industry Innovation Alliance released the monthly data for power batteries in January 2025. The data showed that in January, China's power battery installations reached 38.8 GWh, down 48.6% MoM, up 20.1% YoY. Among them, ternary battery installations were 8.5 GWh, accounting for 22.1% of the total, down 40.4% MoM, down 32.2% YoY; LFP battery installations were 30.2 GWh, accounting for 77.9% of the total, down 50.5% MoM, up 53.5% YoY.
Top 15 Domestic Power Battery Enterprises in January
In terms of market concentration, 36 power battery enterprises in China's NEV market achieved installations in January, 2 fewer than the same period last year. The top 3, top 5, and top 10 power battery enterprises accounted for 29.5 GWh, 33.2 GWh, and 37.2 GWh of installations, respectively, representing 76.2%, 85.5%, and 96.0% of the total. The share of the top 10 increased by 0.3 percentage points YoY.
At the enterprise level, the top 15 domestic power battery enterprises in January were CATL, BYD, CALB, Gotion High-tech, SVOLT Energy Technology, EVE, REPT Battero, Sunwoda, Jidian New Energy, Zenergy, DFD, CORNEX New Energy, Yaoning New Energy, Farasis Energy, and SANY Red Elephant.
Compared to previous months, the top 10 domestic power battery enterprises in January remained relatively stable, while the rankings of those ranked 11th to 15th fluctuated significantly. Among them, CORNEX New Energy and SANY Red Elephant made the list for the first time, ranking 12th and 15th, respectively.
LFP Batteries Dominate, Two New Enterprises Make the List
For the two newly listed battery enterprises, both benefited from the continued growth in LFP battery installations.
Among the top 15 domestic LFP power battery enterprises in January, CORNEX New Energy ranked 12th with 0.27 GWh, and SANY Red Elephant ranked 14th with 0.1 GWh. Additionally, CATL and BYD continued to dominate the market, with a relatively stable competitive landscape.
Benefiting from the continued penetration into low and mid-end car models sensitive to safety and cost, LFP batteries remained the mainstream in domestic power battery installations in January. Although ternary battery installations totaled only 8.5 GWh, accounting for 22.1%, they maintained demand in mid-to-high-end passenger vehicles due to their high energy density.
Among the top 12 domestic ternary power battery enterprises in January, CATL stood out, accounting for 73.98% of the market, up 5.99 percentage points from the previous month, almost monopolizing the ternary power battery market.
Data from the China Automotive Power Battery Industry Innovation Alliance also showed that in January 2025, based on estimates of China's demand for key materials for power and other batteries, the consumption of ternary materials was 36,000 mt, LFP materials 206,000 mt; anode materials 125,000 mt; separators 1.62 billion m²; electrolyte for ternary batteries 17,000 mt, and electrolyte for LFP batteries 113,000 mt.
Pure EVs Account for 80%, One Enterprise Benefits and Makes the List
Additionally, in terms of power battery installations by car model, pure EVs accounted for 80.0% in January, up 26.5% YoY; plug-in hybrid EVs accounted for 19.9%, down 0.4% YoY; and fuel cell vehicles accounted for 0.02%, up 11.4% YoY. Among them, pure electric commercial vehicles saw the highest growth, up 95.1% YoY.
Notably, CORNEX New Energy, which newly entered the top 15 domestic power battery enterprises in January, also benefited from the rapid growth in pure electric passenger vehicle installations. Its installations reached 0.26 GWh, accounting for 1.0%, ranking 12th.
Another new entrant, SANY Red Elephant, achieved 0.1 GWh of installations, with a 1.85% market share, ranking 7th in January's domestic NEV commercial vehicle installations.
Conclusion:
With the continuous development and evolution of the NEV market, LFP batteries have undoubtedly become the mainstream, while ternary batteries continue to optimize in the high-end market. Meanwhile, the domestic power battery installation market is also moving towards greater diversification amid the ongoing optimization of car model structures and intensified enterprise competition. To gain a competitive edge in the increasingly fierce market, power battery enterprises need to continuously achieve breakthroughs in energy density, safety, and cost.
