On September 10, 2024, the August monthly report on power battery information was released. In August, the total production of power batteries, energy storage batteries, and a small number of other small power batteries in China reached 101.3 GWh, an increase of 10.4% month-on-month and 36.8% year-on-year. From January to August, the cumulative battery production was 623.1 GWh, showing a cumulative year-on-year growth of 36.3%. Among them, the production of lithium iron phosphate (LFP) batteries in August was 76.3 GWh, accounting for over 75.3%, and the cumulative production from January to August was 446.9 GWh, representing more than 71.7% of total production.
In August, the sales of power batteries, energy storage batteries, and other small power batteries amounted to 92.8 GWh, marking a 7.5% increase month-on-month and 43.2% year-on-year. Companies such as EVE Energy, CALB, REPT, Gotion High-Tech, Sunwoda, and SVOLT all exceeded the average growth rate.
August 2024 Power Battery Monthly Information
Production:
In August, driven by the new energy vehicle (NEV) market, China’s total production of power and other batteries reached 101.3 GWh, reflecting a month-on-month growth of 10.4% and a year-on-year growth of 36.8%.
From January to August, the cumulative production of power and other batteries in China amounted to 623.1 GWh, with a cumulative year-on-year increase of 36.3%.
Sales:
In August, the total sales of power and other batteries in China reached 92.8 GWh, reflecting a 7.5% increase month-on-month and 43.2% year-on-year. Of this, power battery sales were 68.4 GWh, marking a 10.0% month-on-month increase and a 26.6% year-on-year increase, accounting for 73.7% of total sales. This is an increase of 1.7 percentage points from the previous month. Other battery sales amounted to 24.4 GWh, with a month-on-month increase of 1.1% and a year-on-year growth of 126.4%, accounting for 26.3% of total sales.
From January to August, the cumulative sales of power and other batteries in China reached 581.8 GWh, with a cumulative year-on-year increase of 42.1%. Power batteries accounted for 448.8 GWh of the total, reflecting a year-on-year growth of 25.5% and representing 77.1% of cumulative sales, down by 10.2 percentage points compared to the same period last year. The cumulative sales of other batteries reached 133.0 GWh, with a year-on-year growth of 157.2%, accounting for 22.9% of total cumulative sales.
In August, China’s total battery exports, including power and other batteries, reached 16.7 GWh, reflecting a 7.4% month-on-month growth and a year-on-year increase of 36.5%, accounting for 18.0% of the month’s total sales. Of this, power battery exports reached 11.1 GWh, marking a 16.3% month-on-month increase and a 6.1% year-on-year growth, accounting for 66.6% of total exports—an increase of 5.1 percentage points compared to the previous month. Other battery exports totaled 5.6 GWh, down by 6.7% month-on-month but up by 218.9% year-on-year, accounting for 33.4% of total exports.
From January to August, the cumulative export volume of power and other batteries in China was 106.0 GWh, reflecting a cumulative year-on-year growth of 23.0%. Exports accounted for 18.2% of total cumulative sales during this period. Of this, cumulative power battery exports amounted to 80.8 GWh, with a year-on-year growth of 5.3%, accounting for 76.2% of total exports, a decrease of 1.8 percentage points compared to the previous month’s cumulative total. The cumulative export volume of other batteries reached 25.2 GWh, showing a year-on-year growth of 165.7%, accounting for 23.8% of total cumulative exports.
Installed Capacity:
In August, China’s power battery installed capacity reached 47.2 GWh, marking a month-on-month growth of 13.5% and a year-on-year growth of 35.3%. Of this, ternary battery installations accounted for 12.1 GWh, representing 25.7% of total installations, with a month-on-month increase of 6.8% and a year-on-year growth of 12.3%. Lithium iron phosphate (LFP) battery installations reached 35.0 GWh, representing 74.2% of total installations, with a month-on-month increase of 16.1% and a year-on-year growth of 45.6%.
From January to August, the cumulative installed capacity of power batteries in China reached 292.1 GWh, reflecting a cumulative year-on-year growth of 33.2%. Of this, ternary battery cumulative installed capacity reached 85.7 GWh, accounting for 29.4% of total installations and representing a year-on-year growth of 23.6%. LFP battery cumulative installed capacity was 206.2 GWh, accounting for 70.6% of total installations, with a year-on-year growth of 37.8%.
