BYD (HKG: 1211, OTCMKTS: BYDDY) saw its share of China's electric vehicle (EV) battery market continue to grow last month, as its vehicle sales rebounded further.
In March, China's power battery installations totaled 56.6 GWh, up 61.8 percent year-on-year and up 62.3 percent from February, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL's power battery installations in March amounted to 23.84 GWh, continuing to rank first with a share of 42.38 percent, albeit 2.07 percentage points lower than February's share of 44.45 percent.
BYD's power battery installed capacity was 13.79 GWh in March, ranking second with a 24.52 percent share, up 0.90 percentage points from February's 23.62 percent.
For BYD, the fluctuation in battery installations was mainly related to its new energy vehicle (NEV) sales.
The company sold 377,420 NEVs in March, up 24.78 percent year-on-year and up 16.90 percent from February, according to data it released earlier this month.
CALB had 2.90 GWh of power battery installations in March, placing it in third place with a 5.16 percent share, up 0.32 percentage points from 4.83 percent in February. In February, CALB ranked fifth.
Gotion High-tech ranked fourth in March with 2.71 GWh installed and a 4.81 percent share.
Eve Energy ranked fifth in March with an installed base of 2.34 GWh and a 4.16 percent share.
China's lithium ternary battery installed base amounted to 10.0 GWh in March, accounting for 17.7 percent of the total. This is 11.6 percent lower than the same month last year, while 55.2 percent higher than February.
Lithium iron phosphate (LFP) batteries installed base amounted to 46.6 GWh in March, accounting for 82.3 percent of the total. This represents a 97.0 percent increase year-on-year and a 63.9 percent increase from February.
CATL, LG Energy Solution, and CALB were the top three installers of ternary batteries in March, with shares of 63.95 percent, 14.77 percent, and 7.78 percent, respectively.
In the LFP battery market, CATL, BYD, and Gotion were the top three in terms of installed capacity in March, with shares of 37.90 percent, 29.62 percent, and 5.68 percent, respectively.
China's production of power batteries and other batteries in March amounted to 118.3 GWh, a year-on-year increase of 54.3 percent, and an increase from February of 18.0 percent.
The production of ternary batteries was 23.8 GWh in March, down 3.3 percent year-on-year but up 23.4 percent from February.
The production of LFP batteries totaled 94.3 GWh in March, up 81.7 percent year-on-year and up 16.6 percent from February.
China exported 13.9 GWh of power batteries in March, including 8.8 GWh of ternary batteries and 5.0 GWh of LFP batteries.
More on Battery News
