BUSINESS China's power battery output surges over 101% in Sept.

BUSINESS

China's power battery output surges over 101% in Sept.

China.org.cn

18:46, October 16, 2022

People visit the exhibition area of BYD, China's leading new energy vehicle (NEV) manufacturer, during the 19th China (Changchun) International Automobile Expo in Changchun, capital of northeast China's Jilin province, July 15, 2022. (Photo: Xinhua)

China's installed capacity of power batteries registered rapid growth in September amid a boom in the country's new energy vehicle (NEV) market, industry data showed.

Last month, the installed capacity of power batteries for NEVs rose by 101.6 percent year on year to 31.6 gigawatt-hours (GWh), according to the China Association of Automobile Manufacturers.

Specifically, about 20.4 GWh of lithium iron phosphate (LiFePO4) batteries were installed in NEVs, up 113.8 percent from a year earlier, accounting for 64.5 percent of the monthly total.

China's NEV market continued to maintain growth momentum in September, with the sales of NEV soaring 93.9 percent from a year earlier to 708,000 units, data from the automobile association showed.

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