China’s Installed Capacity Of Power Batteries Rose In March, With Recovery Of Ternary Battery Outpacing LFP Battery

SHANGHAI, May 16 (SMM) - The installed capacity of power batteries stood at 27.8 GWh in March, up 27% month-on-month and 30% year-on-year. The installed capacity of ternary batteries was 8.7 Gwh, up 30% MoM and 6.3% YoY. The installed capacity of LFP batteries was 19 Gwh, up 25.3% MoM and 44% YoY. Gradually recovering end-user consumption and depleted inventories buoyed the installed capacity of power batteries. The recovery of ternary battery installed capacity was faster than that of LFP battery mainly due to lower baseline of the former and the installation of the former onto soon-to-be-released NEV models.