On February 27, the Ministry of Industry and Information Technology (MIIT) released the "2024 National Lithium-Ion Battery Industry Operation Report." It mentioned that in 2024, China's lithium-ion battery industry continued its growth trend. Based on information from enterprises listed in the lithium battery industry standardization announcements and estimates from industry associations, the total national lithium battery production reached 1,170 GWh, up 24% YoY. The total industry output value exceeded 1.2 trillion yuan.

2024 National Lithium-Ion Battery Industry Operation Report

In 2024, China's lithium-ion battery (hereinafter referred to as "lithium battery") industry continued its growth trend. Based on information from enterprises listed in the lithium battery industry standardization announcements and estimates from industry associations, the total national lithium battery production reached 1,170 GWh, up 24% YoY. The total industry output value exceeded 1.2 trillion yuan.

In the battery segment, from January to December, the production of consumer, energy storage, and power lithium batteries was 84 GWh, 260 GWh, and 826 GWh, respectively. Lithium battery installations (including NEVs and new-type ESS) exceeded 645 GWh, up 48% YoY. Due to the decline in lithium battery product prices, the total export value of lithium batteries from January to December reached 434.8 billion yuan, down 5% YoY, with the decline narrowing by seven percentage points compared to H1 2024.

In the primary materials segment, from January to December, the production of cathode materials, anode materials, separators, and electrolytes was approximately 3.1 million mt, 2 million mt, 21 billion m², and 1.3 million mt, respectively, all up more than 20% YoY.

In the secondary materials segment, from January to December, the production of battery-grade lithium carbonate was 670,000 mt, up 45% YoY, and battery-grade lithium hydroxide was 360,000 mt, up 26% YoY. The average prices of battery-grade lithium carbonate and lithium hydroxide (micro powder grade) were 90,000 yuan/mt and 87,000 yuan/mt, respectively.