China's power battery output up 317.2% year on year in January
China's power battery production in January 2021 totaled 12.0GWh, up 317.2% year-on-year and down 20.4% from the previous month, according to the China Automotive Battery Industry Innovation Alliance (CABIIA).
Ternary battery production accounted for 56.8% of the total output, up 241.6% year-on-year and down 19.4% from the previous month. Lithium iron phosphate battery production accounted for 43.1% of total output, up 493.6% year-on-year, down 20.3% from the previous month
Power batteries are the core components of new energy vehicles, and changes in their supply costs, technology routes and capacity planning will have an impact on the entire industry.
In January 2021, a total of 37 power battery companies in China's new energy vehicle market achieved installed support.
The top 3, top 5 and top 10 power cell companies' power battery installations accounted for 72.1%, 81.5% and 91.8% of the total installed base, respectively.
Driven by the rising production of micro cars, the proportion of pure electric passenger car system energy density below 125Wh/kg in China rose in January, with a total of 40,000 units produced in January, accounting for 25.0% of pure electric passenger cars.
Earlier data from the CABIIA showed that the cumulative installed capacity of China's power batteries reached 63.6 GWh in 2020, a cumulative increase of 2.3% year-on-year.
The industry expects that China's power battery demand is expected to grow by 30% in 2021.