In 2024, the global NEV industry continued to thrive, and the power battery market, as a core component, also showed robust growth. According to data from the China Automotive Power Battery Industry Innovation Alliance, China's cumulative power battery installations reached 548.4 GWh in 2024, up 41.5% YoY. This growth rate reflects the robust demand for power batteries in the domestic NEV market. Throughout the year, 55 power battery enterprises in China's NEV market achieved installation support, an increase of 4 YoY. The top 10 power battery enterprises accounted for 524.1 GWh of installations, representing 95.6% of the total. Market competition intensified, but the concentration effect among leading enterprises was also evident.

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