The loaded volume of power batteries in China reached 32.2 gigawatt-hours in July, a year-on-year increase of 33.3% and a month-on-month decline of 2%, Kallanish learns from China Association of Automobile Manufacturers (CAAM).

Of that, 10.6 GWh or 32.8% were ternary batteries, a volume increase of 7.4% y-o-y and 4.8% m-o-m. However, lithium iron phosphate (LFP) batteries continue to dominate deployment accounting for 21.7 GWh or 67.2% of the total loaded volume last month. LFP installations increased 51.1% y-o-y and 4.7% m-o-m.

During January-July, China’s power battery loaded volume totalled 184.4 GWh, up 37.3% compared to the same period last year. This breaks down as 58.6 GWh of ternary batteries and 125.6 GWh as LFP batteries. The cumulative annual growth stood at 5.6% and 59.6%, respectively, demonstrating how EV manufacturers are increasingly favouring the cheaper LFP chemistry.

In terms of production, China’s total power battery reached 60.9 GWh, an on-year increase of 28.9% and an on-month increase of 1.5%. Ternary batteries took a 33.4% share with 20.4 GWh and LFP batteries had a 66.4% share with 40.5 GWh.

The country exported 11.2 GWh of power batteries in July, of which 7.2 GWh were ternary batteries and 3.9 GWh LFP batteries – the opposite of the domestic EV battery trend.

Source: CAAM