That lead narrowed in October, as LFP battery installations fell 11.6 percent from September, while ternary battery installations rose 13.5 percent from September.
Lithium iron phosphate (LFP) battery installations in China surpassed ternary batteries for the fourth consecutive month, as the lower-cost batteries are used in more vehicles.
According to data released today by the China Automotive Battery Innovation Alliance, China's LFP battery installations in October were 8.434 GWh, higher than the 6.9692 GWh for ternary batteries.
This is the fourth consecutive month that LFP batteries have maintained their lead after surpassing ternary batteries for the first time in the year in July.
(Graphic by CnEVPost)
However, this lead narrowed in October, as the year-on-year growth rate of LFP battery installations reached 249.5 percent, but declined by 11.6 percent from September. In contrast, the installed base of ternary batteries grew 104.3 percent year-on-year, up 13.5 percent from September.
From January to October, the cumulative installed base of LFP batteries was 53.2116 GWh, still lower than the 54.0538 GWh of ternary materials.
In October, the installed base of China's power batteries was 15.4 GWh, up 162.8 percent year-on-year and down 1.8 percent from September.
(Graphic by CnEVPost)
From January to October, the cumulative installed base of power batteries in China was 107.5 GWh, up 168.1 percent year-on-year.
In October, CATL ranked first with an installed base of 7.69 GWh, accounting for 49.9 percent of the market share.
BYD ranked second, with 3.15 GWh installed and a 20.4 percent market share.
Gotion High-Tech ranked third, with 0.8 GWh installed and a 5.2 percent market share.
BYD reportedly has secured 10 GWh of LFP battery orders from Tesla
(Graphic by CnEVPost)
More From CnEVPost
