Summary: In May 2022, China's installed capacity of power battery was 18.6 GWh, a YoY increase of 90.3% and a MoM increase of 39.9%. From Jan.–May 2022, China's total installed capacity of power battery was 83.1 GWh, a cumulative growth of 100.8% over last year.

Output of power batteries

In May 2022, China had a total output of 35.6 GWh power batteries, a YoY increase of 157.9% and a MoM increase of 22.8%. Among them, the output of ternary batteries was 16.3 GWh, accounting for 45.8% of the total output, a YoY increase of 225.7% and a MoM increase of 58.2%; the output of lithium ferrous phosphate (LFP) batteries was 19.2 GWh, accounting for 54.1% of the total output with a YoY increase of 119.4% and a MoM increase of 3.3%. From Jan.–May 2022, China had a total output of 165.1 GWh power batteries, a cumulative growth of 177.5% over last year. Among them, the total output of ternary batteries was 64.6 GWh, accounting for 39.1% of the total power batteries with a cumulative YoY growth rate of 119.0%; the total output of LFP batteries was 100.3 GWh, which accounted for 60.7% of the total power batteries, a cumulative YoY growth of 235.2%.

Installed capacity of power batteries

In May 2022, China had installed capacity of power batteries of 18.6 GWh, a YoY increase of 90.3% and a MoM increase of 39.9%. Among the total capacity, ternary batteries had a total installed capacity of 8.3 GWh, accounting for 44.7% of the total installed capacity, a YoY increase of 59.0% and a MoM increase of 90.3%; LFP batteries had a total installed capacity of 10.2 GWh, accounting for 55.1% of the total installed capacity, an increase of 126.5% YoY and a rise of 15.1% MoM. From Jan.–May 2022, China's accumulated installed capacity of power batteries was 83.1 GWh, an increase of 100.8% YoY. These included an accumulated installed capacity of 34.0 GWh ternary batteries, accounting for 40.9% of the total installed capacity with a YoY rise of 40.5%; and an accumulated installed capacity of 49.0 GWh LFP batteries, which accounted for 58.9% of the total capacity, an accumulated YoY growth of 186.1%, showing a rapid development trend.

Sales of New Energy Vehicles

In May 2022, China sold 360,000 New Energy Vehicles (NEVs), a YoY increase of 91.2% and a MoM increase of 26.9%. From Jan.–May 2022, China totally sold 1,712,000 NEVs, which increased by 119.5% YoY.

Power batteries loaded and matched to vehicles

In May 2022, the total number of power battery enterprises in China's new energy vehicles industry which had their power batteries loaded and matched to vehicles was 37, four less on the same period last year. Top 3, top 5 and top 10 power battery companies had respective installed capacity of 14.2 GWh, 15.7 GWh, 17.4 GWh power batteries, accounting for 76.7%, 84.5% and 93.9% of the total installed capacity respectively.