CHINA China's NEV storage battery sector sees output plunge

CHINA

China's NEV storage battery sector sees output plunge

Xinhua

14:31, May 16, 2020

Guangzhou-based XPeng shows its G3 model at the Shanghai auto show in April, 2019. (Photo: China Daily)

BEIJING, May 16 (Xinhua) -- China's output of storage batteries to power new energy vehicles (NEV) plunged by 35.5 percent year on year in April, as the world's largest NEV market continues its recovery from COVID-19 disruptions, industry data showed.

The output stood at 4.7 gigawatt-hours last month, and the sector's total output in the first four months of the year plummeted 52.1 percent to 13 gigawatt-hours, according to the China Association of Automobile Manufacturers.

In April, the installed capacity of the batteries came in at 3.6 gigawatt-hours, surging 29.5 percent month on month and declined 33.7 percent from the same period last year, showed the data.

The country's NEV market saw a mild rebound in April, with sales of new energy passenger cars coming in at 64,000 units, down 30 percent year on year but up 14.8 percent from March, according to the China Passenger Car Association.

To promote the development of the domestic NEV market, China has been strengthening the construction of charging facilities and loosening market access requirements for NEV manufacturers.

By the end of last year, the number of NEVs had reached 3.8 million. 

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