Heinxs Shares | China Power & Energy Storage Battery Monthly Data — October 2023
Production Output
In October, the combined output of power and energy storage batteries in China reached 77.3 GWh, down slightly by 0.1% month-on-month but up 23.2% year-on-year.
From January to October, cumulative output reached 611.0 GWh, up 41.8% year-on-year.
Sales Volume
In October, total sales reached 75.0 GWh, up 4.7% month-on-month. Power battery sales hit 61.0 GWh (81.4% of the total, +1.5% MoM, +19.5% YoY); energy storage battery sales reached 13.9 GWh (18.6%, +21.9% MoM).
From January to October, cumulative sales reached 557.6 GWh — power batteries 486.0 GWh (87.2%, +37.1% YoY) and energy storage batteries 71.6 GWh (12.8%).
Vehicle Installation Volume
In October, 39.2 GWh of power batteries were installed in vehicles, up 28.3% year-on-year and 7.6% month-on-month. NMC batteries accounted for 12.3 GWh (31.4%, +14.0% YoY, +0.8% MoM), while LFP batteries reached 26.8 GWh (68.5%, +36.4% YoY, +10.9% MoM).
From January to October, cumulative installations reached 294.9 GWh, up 31.5% year-on-year — NMC batteries 93.9 GWh (31.8%, +6.7% YoY) and LFP batteries 200.7 GWh (68.1%, +47.6% YoY).
Energy Storage
In October, combined exports of power and energy storage batteries reached 14.5 GWh, up 9.1% month-on-month, accounting for 19.4% of monthly sales — power batteries 11.5 GWh (78.9%, +3.8% MoM, +34.0% YoY) and energy storage batteries 3.1 GWh (21.1%, +34.9% MoM).
From January to October, cumulative exports reached 115.7 GWh (20.8% of cumulative sales) — power batteries 101.2 GWh (87.5%, +105.4% YoY) and energy storage batteries 14.5 GWh (12.5%).
Editor's Analysis
In October, 35 power battery enterprises supplied installation matching for China's NEV market, 5 fewer than the same period last year. The top 3, top 5 and top 10 enterprises installed 30.8 GWh, 34.7 GWh and 38.3 GWh respectively, accounting for 78.7%, 88.4% and 97.8% of total installations.
From January to October, 48 enterprises supplied installation matching, 3 fewer than last year. The top 3, top 5 and top 10 installed 237.0 GWh, 261.8 GWh and 287.0 GWh, accounting for 80.4%, 88.8% and 97.3% respectively.
Carbon neutrality has become a shared global goal. As wind and solar power capacity continues to expand and vehicle electrification accelerates — with China's EV market penetration growing particularly fast — surging EV demand translates directly into demand for power batteries. Against this dual-carbon backdrop, HEINXS products will continue to support the power battery industry in becoming bigger, stronger and more refined, while delivering innovative solutions to the industry.
