China's battery industry in March: strong growth in production and sales

China's battery industry continues to maintain a strong growth momentum. According to the monthly information on power batteries in March, production, sales and installation volume all showed a clear growth trend, providing strong support for the development of China's battery industry.

● Total battery production reached 75.8GWh;

● Total battery sales were 73.2GWh;

● Power battery exports 11.9GWh;

● The installed capacity of power batteries is 35GWh.

● Output

◎ In March, China's total output of power batteries and other batteries reached 75.8GWh, a month-on-month increase of 73.8% and a year-on-year increase of 39.8%.

◎ Cumulative production in the first quarter was 184.6GWh, a year-on-year increase of 33.5%.

The utilization rate of China's battery industry's production capacity is still recovering, mainly driven by demand in the new energy vehicle market.

● Sales volume

In March, the total sales volume of power batteries and other batteries was 73.2GWh, up 96.1% month-on-month and 49.5% year-on-year. Among them, the sales volume of power batteries accounted for as high as 85%, up 41.3% year-on-year. This data reflects the rapid growth in sales of new energy vehicles, which has driven the expansion of the power battery market. The sales volume of other batteries increased more significantly year-on-year, reaching 122.3%, showing an upward trend in diversified battery demand.

● Battery export

The export of China's battery industry also showed a certain growth trend.

◎In March, power battery exports reached 11.9GWh, accounting for 96.8%, a year-on-year increase of 33.7%, while exports of other batteries decreased slightly, down 71.5% year-on-year.

◎Cumulative exports in the first quarter reached 28.9GWh, of which power battery exports were 28.1GWh, a year-on-year increase of 10.5%, while exports of other batteries fell by 82.5%.

The competitiveness of battery products in the international market is constantly increasing, but they also face some challenges.

● Loading volume

The installed capacity of power batteries has also maintained a steady growth trend.

◎ In March, the installed capacity of power batteries reached 35.0GWh, a year-on-year increase of 25.8% and a month-on-month increase of 94.6%. Among them, the installed capacity of lithium iron phosphate batteries accounted for a large proportion, accounting for 67.6% of the total installed capacity, a year-on-year increase of 24.1%.

◎ From January to March, the cumulative installed capacity reached 85.2GWh, a year-on-year increase of 29.4%.

This shows that the application of power batteries in the field of new energy vehicles continues to expand.

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