On April 11th, the China Automotive Power Battery Industry Innovation Alliance released monthly battery data for March 2024. Data shows that in terms of production, driven by the demand for new energy vehicles, the production of power and other batteries rebounded month on month in March, and China's power and other batteries increased year-on-year in the first quarter.

In March, the total production of power and other batteries in China was 75.8 GWh, a month on month increase of 73.8% and a year-on-year increase of 39.8%. In the first quarter, the total cumulative production of power and other batteries in China was 184.6 GWh, a year-on-year increase of 33.5%.

In terms of sales, in March, the total sales of power and other batteries in China were 73.2 GWh, a month on month increase of 96.1% and a year-on-year increase of 49.5%. Among them, the sales volume of power batteries was 62.3 GWh, accounting for 85%, with a month on month increase of 85.6% and a year-on-year increase of 41.3%; The sales volume of other batteries was 11GWh, accounting for 15%, with a month on month increase of 187.5% and a year-on-year increase of 122.3%.

In the first quarter, the cumulative sales of power and other batteries in China reached 167.7 GWh, a year-on-year increase of 35.5%. Among them, the cumulative sales of power batteries were 146.2 GWh, accounting for 87.2%, with a cumulative year-on-year increase of 35.4%; The cumulative sales of other batteries were 21.5GWh, accounting for 12.8%, with a year-on-year increase of 36.8%.

In terms of loading volume, in March, the loading volume of power batteries in China was 35.0 GWh, a year-on-year increase of 25.8% and a month on month increase of 94.6%. The installed capacity of ternary batteries was 11.3GWh, accounting for 32.4% of the total installed capacity, a year-on-year increase of 29.7% and a month on month increase of 62.9%; The installed capacity of lithium iron phosphate batteries is 23.6GWh, accounting for 67.6% of the total installed capacity, a year-on-year increase of 24.1% and a month on month increase of 114.6%.

In the first quarter, the cumulative installed capacity of power batteries in China was 85.2 GWh, a year-on-year increase of 29.4%. The cumulative installed capacity of ternary batteries is 30.9Wh, accounting for 36.2% of the total installed capacity, with a year-on-year increase of 47.8%; The cumulative installed capacity of lithium iron phosphate batteries is 54.3 GWh, accounting for 63.8% of the total installed capacity, with a year-on-year increase of 20.9%.

In March, a total of 39 power battery companies in China's new energy vehicle market achieved vehicle installation and matching, consistent with the same period last year; The top 3, top 5, and top 10 power battery companies have installed 27.1 GWh, 30.0 GWh, and 33.5 GWh of power batteries, accounting for 77.6%, 85.8%, and 96.0% of the total installed vehicles, respectively. The proportion of the top 10 companies decreased by 2.3 percentage points compared to the same period last year, and the market concentration decreased.

In the first quarter, a total of 42 power battery companies in China's new energy vehicle market achieved vehicle installation support, an increase of 1 compared to last year. The top 3, top 5, and top 10 power battery companies had vehicle installation volumes of 64.9 GWh, 71.9 GWh, and 81.6 GWh, respectively, accounting for 76.2%, 84.3%, and 95.8% of the total vehicle installation volume.

In March, the top 15 domestic power battery companies with installed vehicles were Ningde Times (15.54 GWh, accounting for 44.87%), BYD (9.28 GWh, accounting for 26.79%), China Innovation Aviation (2.31 GWh, accounting for 6.66%), Yiwei Lithium Energy (1.81 GWh, accounting for 5.24%), Guoxuan High tech (1.04 GWh, accounting for 2.99%), Honeycomb Energy (1.03 GWh, accounting for 2.97%), Xinwangda (0.99 GWh, accounting for 2.86%), Ruipu Lanjun (0.55 GWh, accounting for 1.60%), and Funeng Technology (0.53 GWh, accounting for 2.97%) 4GWh, accounting for 1.57%, LG New Energy (0.45GWh, accounting for 1.28%), Zhengli New Energy (0.44GWh, accounting for 1.26%), Jidian New Energy (0.40GWh, accounting for 1.14%), Duofuduo (0.09GWh, accounting for 0.26%), Anchi New Energy (0.05GWh, accounting for 0.16%), Henan Lithium Power (0.02GWh, accounting for 0.06%).

In the first quarter, the top 15 domestic power battery companies in terms of installed vehicles were: CATL (41.31 GWh, accounting for 48.93%), BYD (18.44 GWh, accounting for 21.84%), China Innovation Aviation (5.19 GWh, accounting for 6.15%), Yiwei Lithium Energy (3.79 GWh, accounting for 4.49%), Guoxuan High tech (3.12 GWh, accounting for 3.70%), Honeycomb Energy (2.92 GWh, accounting for 3.46%), Xinwangda (2.51 GWh, accounting for 2.97%), LG New Energy (1.66 GWh, accounting for 1.97%), and Ruipu Lanjun. (1.65GWh, accounting for 1.95%), Zhengli New Energy (1.02GWh, accounting for 1.20%), Jidian New Energy (1.01GWh, accounting for 1.19%), Funeng Technology (0.98GWh, accounting for 1.16%), Duofuduo (0.40GWh, accounting for 0.48%), Anchi New Energy (0.08GWh, accounting for 0.10%), and Penghui Energy (0.05GWh, accounting for 0.06%).

It is worth noting that in the first quarter, China achieved the installation of semi-solid batteries and sodium ion batteries, with supporting battery companies being Weilan New Energy and Ningde Times, respectively.

In terms of battery exports, in March, China's total exports of power and other batteries reached 12.2GWh, a month on month increase of 48.7% and a year-on-year increase of 19.6%, accounting for 16.7% of the month's sales. Among them, the export of power batteries reached 11.9 GWh, accounting for 96.8%, with a month on month increase of 46.0% and a year-on-year increase of 33.7%. The export of other batteries was 0.4GWh, accounting for 3.2%, with a month on month increase of 227.2% and a year-on-year decrease of 71.5%.

In the first quarter, the cumulative export of power and other batteries in China reached 28.9 GWh, accounting for 17.2% of the cumulative sales in the first three months and a cumulative year-on-year decrease of 2.2%. Among them, the cumulative export of power batteries was 28.1 GWh, accounting for 97.6%, with a cumulative year-on-year increase of 10.5%; The cumulative export of other batteries was 0.7GWh, accounting for 2.4%, a year-on-year decrease of 82.5%.