According to information released during the 2022 World EV and ES Battery Conference held on July 21, as of the end of June, the installed capacity of power batteries in China had reached 531.9 GWh, remaining top in the world.
The Chinese power battery industry has been developing rapidly in recent years with the expansion of electric drive systems to automobiles, cruise ships, cargo ships, rail transportation and agricultural machinery, among other sectors. The comprehensive strength has increased significantly. In 2021, the installed power battery capacity in China totaled 154.5 GWh, accounting for about fifty percent of the global total. With six of the top 10 companies in the global power battery in terms of installed capacity, China’s enterprises have a combined market share of about 48%.
Regarding power batteries for vehicles, China’s power battery installation volume in the first half of this year totaled 110.1 GWh, an increase of 109.8%. The volume of ternary batteries installed accounted for 41.4%, up 51.2% year-on-year. Meanwhile, lithium iron phosphate batteries installed accounted for 58.5%, up 189.7% year-on-year.
Rapid improvements have been made in power battery technology. China has formed a complete industry chain covering basic materials, cell monomers, battery systems, manufacturing equipment, the global market share of anode materials has reached 90%, while the independent supply rate of diaphragm materials exceeds 90%. The system energy density of ternary batteries and lithium iron phosphate batteries is at the leading international level. Up to now, the number of power battery standards introduced in China accounts for more than 40% of the global share.
The recycling system is established on a preliminary basis. By the end of June this year, China built a total of 10,171 new energy vehicle power battery recycling service outlets.
In addition, according to Tianyancha, up to now, there are more than 9,200 power battery-related enterprises in China, of which 49 new enterprises were registered in the first half of 2022, with an average growth rate of 50.1% from January to June, maintaining high growth. From the perspective of the geographical distribution of power battery enterprises, Hunan, Guangdong and Jiangsu rank top in terms of the number of relevant enterprises, with more than 2,700, 2,100 and 650 respectively.