China is leading the global share by 44.2 percent, with CATL installing 23.99 GWh of power batteries in September.
Reports now surfaced that China, the world’s leading battery production country, has once again marked a significant leap, with power battery installation volume reaching 54.5 GWh in September. It is an escalation of 49.6 percent year-on-year and 15.5 percent augmentation month-on-month since August 2024.
The data by China Automotive Battery Innovation Alliance (CABIA) also revealed that China is leading the global share by 44.2 percent. On the other hand, Contemporary Amperex Technology Co., Limited, one of the leaders in battery manufacturing, installed 23.99 GWh of power batteries in September. With this massive volume of deployment, interestingly, the company witnessed a slump of 0.44 percentage points against August’s 44.46 percent.
According to global automobile experts, China, which is spearheading the international market in battery capacity, will lead the same in the coming twenty years. During the last phase of the COVID-19 pandemic, the country produced 77 percent of the world’s batteries in 2022, and the dominance is anticipated to be continued with 70 percent of total battery production by 2030 In 2023, China’s lithium-ion battery output increased 25 percent year-on-year, with a total output of over 940 gigawatt-hours (GWh). Also, exports of these batteries soared over 33 percent year-on-year to 457.4 billion yuan.
BYD grabbed the second spot by installing 13.18 GWh, with a 24.2 percent share, a 0.77 percentage point decrease from 24.97 percent in August. The third spot belongs to CALB, with an installed capacity of 3.65 GWh in the same period and a 6.69 percent market share. Last but not least, Gotion turned out to be the fourth largest, with 3.16 GWh of installed capacity and a 5.8 percent market share. Gotion’s shares rose by 1.21 percentage points, up from 4.58 percent in August.
In September, China’s lithium ternary battery installed capacity was 13.1 GWh, accounting for 24.1 percent of the total, an increase of 7.4 percent year on year and 8.2 percent from August. The installed capacity of lithium iron phosphate (LFP) batteries was 41.3 GWh, accounting for 75.8 percent of the total, an increase of 70.9 per cent year on year and 18 per cent from August. This reflects the growing preference for LFP batteries, likely due to their cost-effectiveness, safety, and stability, which are critical in electric vehicle (EV) and energy storage applications.
