Battery installations increased by 34% in June, and lithium iron phosphate battery sales doubled

In June 2020, China's installed capacity of power batteries resumed its month-on-month growth trend, with an installed capacity of 4.7GWh, a 34% increase from the previous month; this was entirely due to the growth of pure electric buses and special-purpose vehicles. The installed capacity of new energy passenger vehicles increased slightly from the previous month.

In June 2020, China's installed capacity of power batteries resumed its month-on-month growth trend, with an installed capacity of 4.7GWh, a month-on-month increase of 34%; but overall it was still lower than the same period last year, down 29.1% year-on-year. Among them, the installed capacity of passenger cars was 3.25GWh; the installed capacity of commercial vehicles was 1.45GWh.

In the first six months of 2020, my country's installed capacity of power batteries totaled 17.5GWh, a year-on-year decrease of 41.8%.

The growth in installed capacity in June was entirely due to the growth of pure electric buses and special-purpose vehicles. The installed capacity of pure electric buses was 965.3Mwh, up 115.2% month-on-month; the installed capacity of pure electric special-purpose vehicles was 473.9MWh, up 93.7% month-on-month.

The installed capacity of new energy passenger vehicles increased slightly month-on-month, with the installed capacity of pure electric passenger vehicles reaching 2916.8 Mwh, up 17.9% month-on-month; the installed capacity of plug-in hybrid passenger vehicles was 332.1 MWh, up 5.2% month-on-month.

In June, boosted by the growth of commercial vehicles, the installed capacity of lithium iron phosphate batteries increased significantly month-on-month and was close to the same period last year.

In terms of power battery types, ternary batteries were installed at 3GWh, accounting for 63.8%, and lithium iron phosphate batteries were installed at 1.7GWh, accounting for 35.5%. In terms of installed models, new energy passenger cars are mainly equipped with ternary NCM batteries, and new energy commercial vehicles are mainly equipped with lithium iron phosphate batteries. However, the proportion of lithium iron phosphate batteries in passenger cars increased from 4% to 9% in June.

In June, a total of 48 power battery companies in China's new energy vehicle market achieved vehicle installation and matching. The top 10 companies remained basically unchanged, especially the top 5, which were ranked stable.

In terms of market share, CATL's market share has expanded. Since CATL and SAIC-GM-Wuling are a joint venture, if the installed capacity of SAIC-GM-Wuling is included, CATL's total installed capacity will reach 51%. LG Chem's share has been reduced to 12.17%. BYD's market share remains stable at 11.35%.

The battery companies that saw significant growth in June were mainly those that supply commercial vehicles and passenger vehicles to fast-growing automakers such as SAIC-GM-Wuling and Dongfeng.

(1) CATL's business has grown significantly due to its commercial vehicle business

In June, CATL's month-on-month growth reached 42%, mainly driven by commercial vehicles. Bus companies such as Yutong, King Long, Suzhou King Long, etc. began to increase their sales. In addition, CATL's installation volume for Mercedes-Benz, Dongfeng and Dongfeng Xiaokang increased rapidly.

(2) Guoxuan High-tech's supporting models began to sell well

In June, Guoxuan High-tech's sales increased by 70.4% month-on-month, mainly due to the increase in the supply of Fengsheng. In addition, the supply of Chery, Shangtong Wuling, Chongqing Changan, and Feidie Automobile has increased. In June, it added many new supporting companies, such as Hubei Xinchufeng, Yinbao, Nanjing Jinlong, Zhongzhi and Chongqing Ruichi. Overall, Guoxuan High-tech's recent market expansion is good.

(3) Yiwei Lithium Energy doubled month-on-month

Yiwei Lithium Energy installed 112.29MWh of capacity, a month-on-month increase of 114%, mainly due to the increase in supply to Dongfeng, Haima and Nanjing Golden Dragon.

(4) Other battery companies

The growth of Anchi New Energy was mainly due to the rapid month-on-month growth in the volume of supporting Hebei Changan. Penghui installed 62.2MWh, a month-on-month increase of 61.8%, and the growth was also due to the support for Shangtong Wuling. Ruipu began to support WM Motor, with an installed capacity of 8.28MWh.

In June, the increase in power battery installation and the high proportion of lithium iron phosphate batteries were mainly driven by commercial vehicles. However, lithium iron phosphate passenger cars achieved a year-on-year growth, which shows that the advantages of lithium iron phosphate batteries are gradually emerging under the situation of a sharp decline in subsidies.