Installed Capacity of Power Battery Dropped Slightly In April and May Pick Up Slightly in May

China power battery installed capacity fell to 25.1 GWh in April, down 9% from 28 GWh in March but up 90% on the year. Installed capacity of ternary battery stood at 8 GWh in April, down 8.3% MoM, but up 84% YoY. The installed capacity of LFP battery recorded 17 GWh, down 10% but up 93%.

The decline in ternary battery installed capacity was smaller than that in LFP battery, so ternary battery’s share in total installed capacity rose 1 percentage point to 32%. The share of LFP battery installed capacity fell to 68% accordingly.

From January to April 2023, the installed capacity of ternary batteries reached 28.9 GWh, achieving a year-on-year increase of 12%. Installed capacity of LFP battery during the same period reached 62.0 GWh, up 60% YoY. With the continuous recovery of terminal demand and the declines of inventory, the installed capacity of power batteries may increase in May.

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