BUSINESS China's power battery output surges 121 pct in August

BUSINESS

China's power battery output surges 121 pct in August

Xinhua

13:09, September 11, 2022

Employees produce parts of battery with recycled lead at Tianying technology park in Jieshou, east China's Anhui Province, July 15, 2021. (File photo: Xinhua)

BEIJING, Sept. 11 (Xinhua) -- China's installed capacity of power batteries registered rapid growth in August amid the boom of the country's new energy vehicle (NEV) market, industry data showed.

Last month, the installed capacity of power batteries for NEVs rose by 121 percent, year on year, to a total of 27.8 gigawatt-hours (GWh), according to the China Association of Automobile Manufacturers.

Specifically, about 17.2 GWh of lithium iron phosphate (LiFePO4) batteries were installed in NEVs, up 138.6 percent from a year earlier, accounting for 62 percent of the monthly total.

According to the association, China's NEV market continued to maintain growth momentum in August, with sales doubling over August 2021 to 666,600 units.

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