Power Battery Monthly Report in September 2024 Part 1: Panoramic Overview of the Industry

Let's take stock of the overall situation of our country's battery industry in September. This is the best September and the best third quarter.

● Total production reached 111.3GWh, an increase of 9.9% from the previous month and 43.3% compared to the same period last year.

Driven by the new energy vehicle market:

◎ In September, China's total production of power and other types of batteries reached 111.3GWh, an increase of 9.9% from the previous month and 43.3% compared with the same period last year.

◎ From the beginning of the year to the end of September, the total production of power and other batteries reached 734.4GWh, an increase of 37.3% over the same period last year.

In terms of quarterly production, the third quarter was also the best.

● Sales

◎ In September, the total sales volume of power and other batteries was 103.9GWh, an increase of 11.9% month-on-month and 44.8% year-on-year.

Specifically, sales of power batteries were 76.6GWh, accounting for 73.7% of total sales, while sales of other types of batteries were 27.3GWh, accounting for 26.3% of total sales.

◎ In the first nine months of this year, the cumulative sales volume of power and other batteries was 685.7GWh, an increase of 42.5% over the same period last year.

Among them, the cumulative sales volume of power batteries was 525.3GWh, accounting for 76.6% of the total sales volume, while the cumulative sales volume of other batteries was 160.3GWh, accounting for 23.4% of the total sales volume.

● Export situation

◎ In September, the total export volume of power and other batteries was 20.2GWh, up 20.7% month-on-month and 37.8% year-on-year, accounting for 19.4% of the total sales volume that month. The export volume of power batteries was 11.8GWh, accounting for 58.2% of the total export volume, while the export volume of other types of batteries was 8.4GWh, accounting for 41.8% of the total export volume.

◎ As of the end of September, the cumulative export volume of power and other batteries was 126.1GWh, an increase of 37.8% over the same period last year, accounting for 18.4% of the total sales in the first nine months.

Among them, the cumulative export volume of power batteries was 92.5GWh, accounting for 73.3% of the total exports, while the cumulative export volume of other batteries was 33.6GWh, accounting for 26.7% of the total exports.

● Domestic usage

◎ In September, China's installed and used power batteries were 54.5GWh, a month-on-month increase of 15.5% and a year-on-year increase of 49.6%.

Among them, the installed and used capacity of ternary material batteries was 13.1GWh, accounting for 24.1% of the total installed and used capacity, while the installed and used capacity of lithium iron phosphate batteries was 41.3GWh, accounting for 75.8% of the total installed and used capacity.

◎ In the first nine months of this year, the cumulative installed capacity of power batteries was 346.6GWh, an increase of 35.6% over the same period last year. The cumulative installed capacity of ternary material batteries was 98.9GWh, accounting for 28.5% of the total installed capacity, while the cumulative installed capacity of lithium iron phosphate batteries was 247.5GWh, accounting for 71.4% of the total installed capacity.

This is the overall supply and demand situation. Inventory is still increasing in September.

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