LFP Batteries Dominate China’s Power Battery Installations, Boosting Demand for LFP

Polaris Energy Storage Network learned that in May, the China Automotive Power Battery Industry Innovation Alliance released domestic power battery data for April 2025, showing that China's power battery installations reached 54.1 GWh, down 4.3% MoM and up 52.8% YoY. Among them, ternary battery installations were 9.3 GWh, accounting for 17.2% of total installations, down 7.0% MoM and down 6.3% YoY. LFP battery installations were 44.8 GWh, accounting for 82.8% of total installations, down 3.8% MoM and up 75.9% YoY.

From January to April 2025, China's cumulative power battery installations reached 184.3 GWh, up 52.8% YoY. Among them, cumulative ternary battery installations were 34.3 GWh, accounting for 18.6% of total installations, down 15.9% YoY. Cumulative LFP battery installations were 150.0 GWh, accounting for 81.4% of total installations, up 88.0% YoY.

In addition, according to statistics from the China Automotive Power Battery Industry Innovation Alliance, the top 15 enterprises in China's power battery installations in April were CATL, BYD, CALB, Gotion High-tech, EVE, Sunwoda, REPT Battero, Zenergy, SVOLT Energy Technology, Jidian New Energy, LG Energy Solution, DFD, Yinpai Battery, CORNEX New Energy, and Yuanhang Genlead.

Among them, CATL's installations in April were 21.2 GWh, with a market share of 39.44%, ranking first. BYD ranked second with shipments of 14.17 GWh and a market share of 26.35%. Looking at the market share from January to April, the gap between the first and second position has been narrowing for three consecutive months.

In addition, Gotion High-tech, REPT Battero, Zenergy, Jidian New Energy, and DFD saw significant MoM increases in new installations in April, all exceeding 100%. Meanwhile, except for CATL, EVE, SVOLT Energy Technology, LG Energy Solution, and Yinpai Battery experienced a YoY decline in market share in April.

It is understood that from January to April 2025, the proportion of LFP batteries in monthly power battery installations has been continuously expanding, reaching as high as 82.8% in April alone! Furthermore, according to statistics, in just four months, top-tier battery enterprises have frequently placed orders for LFP, with procurement amounts possibly exceeding 10 billion yuan!

On January 10, Lopal signed a major order with Blue Oval to supply LFP cathode materials to Blue Oval from 2026 to 2030.

On April 14, Shandong Fengyuan Chemical announced that it had signed the "LFP Cooperation Framework Agreement" with Huizhou BYD Battery Co., Ltd. Both parties agreed that Fengyuan Lithium Energy would supply LFP cathode material products to BYD Battery from 2025 to 2028.

On May 9, Lopal and CORNEX New Energy signed a sales contract worth 5 billion yuan. From 2025 to 2029, it is expected that 150,000 mt of LFP cathode materials will be sold, with the total contract sales amount expected to exceed 5 billion yuan.

On the evening of May 19, Wanrun New Energy announced that it had signed an agreement with CATL to supply LFP products to CATL, with an estimated total supply volume of approximately 1.3231 million mt from May 2025 to 2030.

Please note that this news is sourced from https://m.bjx.com.cn/mnews/20250526/1443326.shtml and translated by SMM.