China's Power Battery Installations Surge 52.8% Year-on-Year in April

In April, China's power battery installation volume reached 54.1GWh, marking a 52.8% year-on-year increase. This significant growth underscores the rapid expansion of the electric vehicle (EV) market in the country. The data, released by the China Passenger Car Association (CPCA) Secretary-General, Cui Dongshu, highlights the robust demand for EVs and the corresponding need for power batteries.

The report also provides a breakdown of the types of batteries installed. Three-element batteries, which are commonly used in EVs, accounted for 9.3GWh of the total installation volume, representing 17.2% of the overall market. However, this segment experienced a 7.0% month-on-month decrease and a 6.3% year-on-year decline. This shift suggests a potential transition in consumer preferences or technological advancements favoring other battery types.

The data further reveals that the installation volume of lithium iron phosphate batteries, another popular choice for EVs, stood at 44.8GWh. This type of battery saw a substantial 75.9% year-on-year increase, indicating a growing preference for this technology. The month-on-month decrease of 3.8% for lithium iron phosphate batteries is relatively minor compared to the overall growth trend.

The cumulative installation volume from January to April reached 184.3GWh, reflecting a 52.8% year-on-year increase. This period saw a 15.9% year-on-year decrease in the installation of three-element batteries, while lithium iron phosphate batteries experienced an 88.0% year-on-year increase. These figures underscore the dynamic nature of the EV battery market, with lithium iron phosphate batteries gaining significant traction.

The data released by the CPCA provides valuable insights into the EV market's growth and the evolving preferences for different battery technologies. The substantial year-on-year increase in power battery installations highlights the accelerating adoption of EVs in China. The shift towards lithium iron phosphate batteries suggests that this technology may become the dominant choice in the near future, driven by factors such as cost, performance, and sustainability.