Summary: In Sept. 2023, China's installed capacity of power battery was 36.4 GWh, a YoY increase of 15.1% and a MoM increase of 4.4%. From Jan.–Sept. 2023, China's total installed capacity of power battery was 255.7GWh, a cumulative growth of 32.0% over last year.

Output of power batteries

In Sept. 2023, China had a total output of 77.4 GWh power batteries, a YoY increase of 37.4% and a MoM increase of 5.6%. Among them, the output of ternary batteries was 25.3 GWh, accounting for 32.6% of the total output, a YoY increase of 14.1% and a MoM increase of 9.2%; the output of lithium ferrous phosphate (LFP) batteries was 51.9 GWh, accounting for 67.1% of the total output with a YoY increase of 52.2% and a MoM increase of 3.8%. From Jan.–Sept. 2023, China had a total output of 533.7 GWh power batteries, a cumulative growth of 44.9% over last year. Among them, the total output of ternary batteries was 169.8 GWh, accounting for 31.8% of the total power batteries with a cumulative YoY growth rate of 15.2%; the total output of LFP batteries was 362.9 GWh, which accounted for 68.0% of the total power batteries, a cumulative YoY growth of 64.7%.

Installed capacity of power batteries

In Sept. 2023, China's installed capacity of power battery was 36.4 GWh, a YoY increase of 15.1% and a MoM increase of 4.4%. Among the total capacity, ternary batteries had a total installed capacity of 12.2 GWh, accounting for 33.6% of the total installed capacity, a YoY increase of 9.1% and a MoM increase of 13.2%; LFP batteries had a total installed capacity of 24.2 GWh, accounting for 66.4% of the total installed capacity, an increase of 18.6% YoY and an increase of 0.6% MoM. From Jan.–Sept. 2023, China's total installed capacity of power battery was 255.7 GWh, a cumulative growth of 32.0% over last year. These included an accumulated installed capacity of 81.6 GWh ternary batteries, accounting for 31.9% of the total installed capacity with a YoY increase of 5.7%; and an accumulated installed capacity of 173.8GWh LFP batteries, which accounted for 68.0% of the total capacity, an accumulated YoY growth of 49.4%.

Sales of New Energy Vehicles

In Sept. 2023, China sold 904,000 New Energy Vehicles (NEVs), a YoY increase of 27.7%. Among them, the sales volume of Blade Electric Vehicles (BEV) was 627,000, a YoY increase of 16.33%; the sales volume of Plug-in hybrid electric vehicle (PHEV) was 277,000, a YoY increase of 63.91%.