February Power Battery Rankings See Major Changes: CATL Drops Significantly as Sunwoda Battery Enters Top Ten for the First Time

According to data from the General Administration of Customs, in 2024, China's automobile exports (including chassis) reached 6.407 million units, up 22.8% YoY, maintaining its position as the world's largest exporter. Electric vehicle exports exceeded 2 million units for the first time.

The "new trio" of NEVs, lithium batteries, and PV products has become a key driver of China's export growth. Since the beginning of this year, China's NEV and power battery export markets have performed outstandingly.

NEV Exports Reached 282,000 Units, Power Battery Exports Totaled 23.9 GWh in January-February

According to CAAM data, in February, NEV exports reached 131,000 units, down 12.6% MoM but up 60.5% YoY. Among them, passenger NEV exports were 124,000 units, down 13.5% MoM but up 56.8% YoY, while commercial NEV exports were 7,000 units, up 6.3% MoM and 1.8 times YoY.

In February, pure EV exports reached 81,000 units, down 18.9% MoM but up 22.4% YoY, while plug-in hybrid vehicle exports were 50,000 units, down 0.2% MoM but up 2.2 times YoY.

From January to February, NEV exports totaled 282,000 units, up 54.5% YoY. Among them, passenger NEV exports were 268,000 units, up 50.9% YoY, while commercial NEV exports were 14,000 units, up 1.9 times YoY.

From January to February, pure EV exports reached 186,000 units, up 25.3% YoY, while plug-in hybrid vehicle exports were 96,000 units, up 1.8 times YoY.

According to data from the China Automotive Power Battery Industry Innovation Alliance, in February, China's power and other battery exports totaled 21.1 GWh, up 21.0% MoM and 144.7% YoY, accounting for 23.5% of monthly sales. Among them, CALB, Gotion High-tech, SVOLT Energy Technology, REPT Battero, and Lishen Battery exceeded the average growth rate. Specifically, power battery exports reached 12.8 GWh, accounting for 60.6% of total exports, up 15.2% MoM and 51.4% YoY. BYD, Gotion High-tech, SVOLT Energy Technology, and REPT Battero exceeded the average growth rate. Other battery exports totaled 8.3 GWh, accounting for 39.4% of total exports, up 31.1% MoM and significantly YoY.

From January to February, China's power and other battery exports totaled 38.6 GWh, up 102.2% YoY, accounting for 22.6% of cumulative sales. Among them, power battery exports totaled 23.9 GWh, accounting for 62.0% of total exports, up 28.3% YoY, while other battery exports totaled 14.7 GWh, accounting for 38.0% of total exports, with significant YoY growth.

Major Changes in February Power Battery Rankings: CATL Declined Significantly, Inpai Battery Entered the Top 10 for the First Time

According to installation data, in February, China's power battery installations reached 34.9 GWh, down 10.1% MoM but up 94.1% YoY. Among them, ternary battery installations were 6.4 GWh, accounting for 18.5% of total installations, down 24.6% MoM and 7.2% YoY. LFP battery installations were 28.4 GWh, accounting for 81.5% of total installations, down 6.0% MoM but up 158.0% YoY.

From January to February, China's cumulative power battery installations reached 73.6 GWh, up 46.5% YoY. Among them, ternary battery installations totaled 15.0 GWh, accounting for 20.4% of total installations, down 23.3% YoY. LFP battery installations totaled 58.6 GWh, accounting for 79.6% of total installations, up 199.9% YoY.

On the enterprise side, in February, a total of 38 power battery enterprises in China's NEV market achieved installations, 2 fewer than the same period last year. The top 3, top 5, and top 10 power battery enterprises accounted for 25.4 GWh, 28.8 GWh, and 32.5 GWh of installations, respectively, representing 73.0%, 82.7%, and 93.2% of total installations. The top 10 accounted for 3.5 percentage points less than the same period last year.

Specifically, in February, among the top 15 power battery enterprises in China by installations, BYD, Gotion High-tech, EVE, Inpai Battery, LG Energy Solution, DFD, and Farasis Energy achieved MoM market share growth. Inpai Battery showed the most significant increase. Notably, Inpai Battery was not listed in January but entered the top 10 in February with power battery installations of 0.6 GWh, accounting for 1.73% of the total, up 1.58% MoM, ranking eighth. Meanwhile, CATL, CALB, SVOLT Energy Technology, REPT Battero, Sunwoda, Jidian New Energy, Zenergy, and CORNEX New Energy saw MoM market share declines. CATL experienced the largest decline, with February power battery installations of 15.43 GWh, accounting for 44.45% of the total, down 2.63% MoM.

From January to February, a total of 41 power battery enterprises in China's NEV market achieved installations, 1 more than the same period last year. The top 3, top 5, and top 10 power battery enterprises accounted for 54.9 GWh, 61.8 GWh, and 69.4 GWh of installations, respectively, representing 74.5%, 84.0%, and 94.3% of total installations.

Specifically, from January to February, among the top 15 power battery enterprises in China by installations, BYD, Gotion High-tech, EVE, SVOLT Energy Technology, Jidian New Energy, and DFD achieved YoY market share growth. BYD showed the fastest growth, with power battery installations of 17.08 GWh, accounting for 23.24% of the total, up 4.85% YoY. Meanwhile, CATL, CALB, REPT Battero, Sunwoda, Zenergy, and LG Energy Solution saw YoY market share declines. CATL experienced the largest decline, with power battery installations of 33.68 GWh, accounting for 45.84% of the total, down 5.91% YoY.