In November 2024, Chinaβs battery production and sales totaled 117.8 GWh and 118.3 GWh, respectively; bringing the annual cumulative production and sales to 965.3 GWh and 914.3 GWh, respectively. Based on this trend, the cumulative production is expected to exceed 1 TWh by the end of the year, according to the China Industry Technology Innovation Strategic Alliance for Electric Vehicle.
In particular, for the sales breakdown, the sales volume of power batteries was 87.8 GWh, accounting for 74.2% of the total, an increase of 10.9% M-on-M and 29.7% Y-on-Y; the sales volume of other batteries was 30.5 GWh, accounting for 25.8% of the total, a decrease of 2.2% M-on-M and an increase of 82.3% Y-on-Y.
Installed Capacity
The installed capacity reached 67.2 GWh in November, a M-on-M increase of 13.5% and a Y-on-Y increase of 49.7%. Breaking it down further, the installed capacity of ternary batteries was 13.6 GWh, accounting for 20.2% of the total installed capacity, a M-on-M increase of 11.6% and a Y-on-Y decrease of 13.5%; the installed capacity of lithium iron phosphate batteries was 53.6 GWh, accounting for 79.8% of the total installed capacity, a M-on-M increase of 14.0% and a Y-on-Y increase of 84.0%.
| Ranking | Battery Manufacturers | Installed Capacity (GWh) | Market Share (%) | |
| 1 | CATL | 28.7 | 42.71 | |
| 2 | BYD | 16.87 | 25.11 | |
| 3 | CALB | 4.48 | 6.67 | |
| 4 | Gotion | 3.56 | 5.29 | |
| 5 | SVOLT | 2.34 | 3.49 | |
| 6 | EVE Energy | 2.05 | 3.05 | |
| 7 | Sunwoda | 1.78 | 2.64 | |
| 8 | Rept Battero | 1.77 | 2.64 | |
| 9 | Zenergy | 1.22 | 1.81 | |
| 10 | LG Energy Solution | 1 | 1.5 | |
| 11 | Jidian New Energy | 0.86 | 1.28 | |
| 12 | GAC Aion Yinpai Battery Technology | 0.56 | 0.84 | |
| 13 | Do-Fluoride New Energy Technology | 0.45 | 0.67 | |
| 14 | Farasis Energy | 0.38 | 0.57 | |
| 15 | Jiangsu Yoening New Energy | 0.35 | 0.52 |
Among the top 15 power battery manufacturers in China, CATL not only claimed the largest market share with 28.7 GWh of installed capacity in November but also the largest cumulative market share with 211.72 GWh of installed capacity from January to November. BYD came in second with 16.87 GWh of installed capacity in November and 117.54 GWh of installed capacity in 2024. Combined, CATL and BYD had almost 68% of the market share in November and 70% of the market share in 2024.
Furthermore, the cumulative installed capacity from January to November was 473.0 GWh, a Y-on-Y increase of 39.2%. Among them, the cumulative installed capacity of ternary batteries was 124.7 GWh, accounting for 26.4% of the total installed capacity, a Y-on-Y increase of 13.7%; the cumulative installed capacity of lithium iron phosphate batteries was 348.0 GWh, accounting for 73.6% of the total installed capacity, a Y-on-Y increase of 51.5%. Additionally, the installed capacity on BEVs accounted for 77.7% of the total cumulative installed capacity, a Y-on-Y growth of 30.1%; PHEVs accounted for 22.2%, a Y-on-Y growth of 84.6%; and ICE vehicles accounted for 0.1%, a Y-on-Y growth of 22.9%.
Battery exports
In November, China exported 21.9 GWh of batteries, up 10.3% from the previous month and 23.5% from the previous year, accounting for 18.5% of the monthly sales volume. More specifically, the export volume of power batteries was 12.5 GWh, accounting for 57.0% of the total exports, up 15.3% from the previous month and down 2.2% from the previous year; the export volume of other battery types was 9.4 GWh, accounting for 43.0% of the total exports, up 4.3% from the previous month and up 90.0% from the previous year.
The cumulative exports from January to November reached 167.9 GWh, up 26.1% from the previous year, and the cumulative exports accounted for 18.4% of the cumulative sales volume in the first 11 months.
Source: China Industry Technology Innovation Strategic Alliance for Electric Vehicle
