Category: Battery News

Gotion unveils new battery based on LMFP chemistry with range up to 1,000 km

The pack is based on Gotion's new L600 LMFP cells with an energy density of 240 Wh/kg and will be in mass production in 2024.

(Astroinno Battery. Image credit: Gotion High-tech)

Several Chinese power battery makers have previously announced batteries with ranges of up to 1,000 km, but all are based on nickel-cobalt-manganese (NCM) ternary materials.

Now Gotion High-tech has unveiled a new battery technology, which claims to be able to achieve a range of 1,000 km even without the use of expensive ternary materials.

Hefei, Anhui-based Gotion unveiled its L600 LMFP battery cells based on lithium iron phosphate (LFP) chemistry and a battery pack called Astroinno Battery at its 12th technology conference today.

The L600 LMFP cells have an energy density of 240 Wh/kg, or 525 Wh/L. The cells support 4,000 cycles at room temperature and 1,800 cycles at high temperature, according to the company.

A battery system based on the L600 LMFP cell could have an energy density of 190 Wh/kg, which is higher than the energy density of packs based on ternary chemistry systems that are in mass production now, Gotion said, adding that the new cell will be in mass production in 2024.

The energy density growth of mass-produced LFP cells has faced a bottleneck, and further improvements require chemical system improvements, so the LFP solution with manganese addition was born, said Cheng Qian, Gotion's executive president of international operations.

Gotion unveiled the Astroinno Battery based on L600 LMFP cells, saying that the pack uses a sandwich structure with double-sided liquid cooling technology and minimalist design, resulting in a 45 percent reduction in the number of structural components and a 32 percent reduction in the weight of structural components.

The minimalist electrical design thinking makes the pack's wiring harness length only 26 percent of the previous one, from the original 303-meter harness down to 80 meters, with a volumetric grouping efficiency of 76 percent, according to the company.

The pack has an energy density of 190 Wh/kg, surpassing the energy density of ternary batteries currently on the market, Gotion said.

Gotion is not the first manufacturer to release a 1,000-km range battery pack, but it is the first to achieve that range based on the LFP chemistry system.

, China's largest power battery maker, unveiled Qilin Battery, or CTP (cell to pack) 3.0, on June 23, 2022, claiming an energy density of up to 255 Wh/kg to support a vehicle with a 1,000km range.

The Qilin Battery is an innovation in battery structure, not a chemical system, and a 1,000 km range battery pack requires NCM chemistry.

The first Qilin Battery with a 1,000 km range is the 001 of Zeekr, a premium electric vehicle brand of , and deliveries of the model with this range have already started on May 16.

On April 21, Svolt Energy, which was spun off from Great Wall Motor, made the real-life debut of its Dragon Armor Battery at the Shanghai auto show.

Dragon Armor is also an innovation in battery pack structure without involving battery chemistry.

Svolt Energy said that the Dragon Armor Battery with LFP cells could have a range of more than 800 kilometers, while such batteries with ternary cells could have a range of more than 1,000 kilometers.

Gotion installed 1.18 GWh of power batteries in China in April, ranking fifth with a 4.68 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).

In the LFP market, Gotion ranked fourth with a 6.17 percent share in April.

Gotion posts 135% year-on-year profit growth in Q1, site for US battery plant nears finalization

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Eve Energy to buy land for battery plant in Malaysia

The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, Eve Energy said.

(Image credit: Eve Energy)

Chinese lithium battery maker Eve Energy will build a new battery factory in Malaysia, just days after announcing it would build a plant in Hungary.

Eve Energy Malaysia, the Malaysian arm of Eve Energy, signed a memorandum of understanding with Pemaju Kelang Lama Sdn Bhd (PKL) on May 12 to buy land from the latter to set up a lithium battery manufacturing plant in Malaysia, according to a stock exchange announcement.

The land is 66.58083 acres (26.9 hectares) and the price is 164 million ringgit ($36.6 million), according to the May 12 announcement.

The signing of the MOU marks the effective advancement of Eve Energy's cylindrical lithium battery manufacturing project, which will further meet the company's need to scale up its cylindrical battery capacity, the announcement said.

The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, and continue to consolidate and enhance the company's presence in these areas, Eve Energy said.

Eve Energy, one of the world's largest power battery manufacturers, installed 2.4 GWh of batteries worldwide in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.

This puts Eve Energy in 9th place globally with a 1.8 percent share, while and BYD are the top two with 35.0 percent and 16.2 percent shares, respectively.

The announcement comes two days after Eve Energy announced on May 10 that its subsidiary EVE Power Hungary had signed an agreement with Debreceni, a subsidiary of the Hungarian government of Debrecen, to purchase land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells.

The land in Hungary covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million).

The deal will meet the company's need for production land for future growth and further expand its capacity for power and energy storage batteries, Eve Energy said at the time.

Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.

($1 = 4.4755 ringgit)

Chinese battery maker Eve Energy to build plant in Hungary

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Lithium price rally picking up steam in China

Battery grade lithium carbonate rose 7.61 percent in China today, and industrial grade lithium carbonate rose 13.25 percent, both the largest single-day gains of this year.

Lithium price rally picking up steam in China-CnEVPost

Lithium, a key raw material for batteries, is seeing accelerating price gains after a rally that began late last month.

The average price of battery grade lithium carbonate in China was RMB 247,500 ($35,680) per ton today, up RMB 17,500 per ton, or 7.61 percent, from yesterday, according to data from Mysteel.

Industrial grade lithium carbonate averaged RMB 235,000 per ton today, up RMB 27,500 per ton, or 13.25 percent from yesterday.

This is the 10th consecutive day of increase in battery grade lithium carbonate prices and the 13th consecutive day of increase in industrial grade lithium carbonate prices, and they are both the largest single-day gains of this year, CnEVPost's monitoring shows.

As of April 21, lithium carbonate prices have not seen a single day of gains in China this year, falling about 65 percent since the start of the year.

In this round of increases that began late last month, the price of battery grade lithium carbonate rose 37.5 percent from RMB 180,000 per ton, while industrial grade lithium carbonate rose 74 percent.

High lithium prices are clearly not good for China's electric vehicle (EV) industry, but the continued decline in the price of the raw material also reflects weak consumer demand at the end of the spectrum.

The price of battery grade lithium carbonate rose to RMB 590,000 per ton in China on November 23, 2022, up about 14 times from RMB 41,000 per ton in June 2020.

The significant upward movement in lithium prices has resulted in EV makers facing higher battery costs, which has led to impaired profits.

However, the fall in lithium carbonate prices since the end of last year has raised many people more concerns about weak downstream EV demand and price wars.

As lithium prices rebound, some analysts are beginning to see possible signs of improvement in the EV industry.

Lithium carbonate prices have stopped falling and stabilized, reflecting gradually improving downstream demand, Guotai Junan analyst Shi Yan's team said in a research note on May 11.

On May 10, CITIC Securities analyst Yuan Jiancong's team said that the previous sharp drop in lithium carbonate prices and price cuts by automakers had fueled a wait-and-see mood among new energy vehicle (NEV) consumers.

In the second quarter, demand for NEVs is expected to pick up as lithium carbonate prices stabilize, the team said.

CICC analyst Zhang Jiaming's team said in an April 20 research note that the accelerating downward trend in lithium carbonate prices was unsustainable, and lithium prices may gradually stabilize and possibly even rebound in the short term as inventories are reduced.

Due to oversupply, some companies choose to cut production, which is a normal phenomenon that may occur in the process of price reduction, the team said.

However, the team believes that the downward trend in lithium prices may not come to a complete end soon, as the global lithium supply is still in surplus.

Market forces will bring a concentration of new capacity coming online and create supply growth that outpaces demand growth, which is the main driver of the easing lithium supply and demand crunch, the team said.

($1 = RMB 6.9468)

Lithium price in China sees 1st rise this year as analysts expect short-term rebound

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China EV battery installations in Apr: BYD regains top spot over CATL in LFP market

BYD returned to the top spot in the LFP battery market with a 42.68 percent share in April, overtaking CATL's 33.65 percent.

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market-CnEVPost

CATL overtook BYD (OTCMKTS: BYDDY) in China's lithium iron phosphate (LFP) battery market in March for the first time this year. Now, the latter has regained its top spot.

China's power battery installed base in April was 25.1 GWh, up 89.4 percent year-on-year but down 9.5 percent from March, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market-CnEVPost

CATL's power battery installed base in April was 10.26 GWh, ranking first with a 40.83 percent share, down from 44.95 percent in March.

BYD installed 7.32 GWh of power batteries in April, ranking second with a 29.11 percent share, up 2.46 percentage points from March's 26.65 percent.

CALB installed 2.20 GWh of power batteries in April, ranking third with a share of 8.74 percent, down 1.54 percentage points from 10.28 percent in March.

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market-CnEVPost

Eve Energy overtook Gotion High-tech to rank No. 4 with 1.38 GWh of installed base and 5.48 percent share.

Gotion High-tech ranked 5th with 1.18 GWh installed in April and a 4.68 percent share. It ranked 4th with a 4.51 percent share in March.

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market-CnEVPost

China's ternary Li-ion battery installed base in April was 8.0 GWh, accounting for 31.8 percent of total installed base, up 83.5 percent year-on-year but down 8.3 percent from March.

The installed base of LFP batteries was 17.1 GWh, accounting for 68.1 percent of the total, up 92.7 percent year-on-year but down 10.0 percent from March.

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market-CnEVPost

In the ternary battery market, CATL ranked first with 56.22 percent of the installed base of 4.50 GWh in April.

CALB and Sunwoda ranked second and third in the ternary battery market with 17.29 percent and 6.07 percent shares, respectively.

In the LFP battery market, BYD regained the top spot with a 42.68 percent share by overtaking CATL with 7.31 GWh installed in April.

CATL installed 5.76 GWh in the LFP battery market in April, ranking second with a 33.65 percent share.

In March, CATL's share of the LFP market was 39.47, higher than BYD's 38.88 percent, the first time it has overtaken BYD in this market during the year.

Eve Energy and Gotion High-tech ranked third and fourth in the LFP battery market with 7.01 percent and 6.17 percent share, respectively.

China NEV sales down 2.6% MoM to 636,000 in Apr, CAAM data show

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Chinese battery maker Eve Energy to build plant in Hungary

Eve Energy sealed a battery cell supply relationship with BMW last September to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of vehicle models.

(Image credit: Eve Energy)

Chinese lithium battery maker Eve Energy will build a power battery factory in Hungary, possibly in preparation for its supply to BMW.

Eve Energy subsidiary EVE Power Hungary signed an agreement on May 9 with Debreceni, a subsidiary of Hungary's Debrecen government, to buy land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells, according to a Shenzhen stock exchange announcement yesterday.

The land covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million), according to the announcement.

The deal will meet the company's need for production land for future growth and further scale up production capacity for power and energy storage batteries, Eve Energy said.

Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.

On September 9, 2022, Eve Energy announced that it had finalized a cell supply relationship with BMW Group to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of models.

BMW also said at the time in a post on its official WeChat account that it had awarded contracts worth more than 10 billion euros to and Eve Energy to meet the demand for battery cells for the new generation of models.

The two partners will each build two battery cell plants in China and Europe, each with an annual capacity of 20 GWh, BMW said at the time, adding that it will also look for partners to build two more core plants in the North American Free Trade Area.

BMW will first use cylindrical cells in new-generation models starting in 2025, and that sixth-generation lithium-ion cell will bring a major technological leap forward, allowing more than 20 percent higher energy density, up to 30 percent higher range and up to 30 percent faster charging, it said at the time.

Eve Energy, one of the world's largest manufacturers of power batteries, installed 2.4 GWh of batteries in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.

This puts Eve Energy in 9th place globally with a 1.8 percent share, while CATL and BYD are in the top two with 35.0 percent and 16.2 percent shares respectively.

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NIO sees first swap station roll off line in Europe as Hungarian plant goes into operation

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Global EV battery market share in Q1: CATL 35%, BYD 16.2%

CATL's battery is expected to maintain its No. 1 position as it is in high demand in passenger cars such as the Model 3, Model Y, SAIC Mulan, and the Chinese commercial vehicle market, according to SNE Research.

Global battery installations for electric vehicles (EVs) maintained strong growth in the first quarter, with China's CATL and BYD (OTCMKTS: BYDDY) continuing to hold the top two positions.

In the first quarter, global EV battery consumption totaled 133.0 GWh, up 38.6 percent from 95.9 GWh in the same period last year, according to a report released yesterday by South Korean market research firm SNE Research.

Among them, CATL installed 46.6 GWh of batteries in the first quarter, up 35.9 percent from 34.3 GWh in the same period last year.

The Chinese power battery giant continued to rank No. 1 in the world with a 35.0 percent share, down from its 35.8 percent share a year ago and up from its 33.9 percent share in the January-February period.

CATL's battery is expected to maintain its No. 1 position as it is in high demand in passenger cars such as the Tesla Model 3, Model Y, SAIC Mulan, Y, and the Chinese commercial vehicle market, SNE Research said.

BYD installed 21.5 GWh of power batteries in the first quarter, up 115.5 percent from 10.0 GWh in the same period last year.

The company ranked second with a 16.2 percent share in the first quarter, up from 10.4 percent a year earlier and down from 18.2 percent in January-February.

BYD is gaining popularity in the Chinese domestic market with its price competitiveness through a vertically integrated supply chain, including self-supply of batteries and vehicle manufacturing, SNE Research said.

BYD is known to enter the South Korean market soon following Europe, drawing attention to the change in its growth trend, SNE Research added in the report.

LG Energy Solution's power battery installation from January to March was 19.3 GWh, up 37.5 percent year-on-year.

The South Korean company ranked third in the world with a 14.5 percent share, down from 14.6 percent a year earlier.

Japan's Panasonic was fourth with a 9.0 percent share, South Korea's SK On was fifth with a 5.3 percent share and Samsung SDI was sixth with a 4.9 percent share.

China's CALB, Gotion High-tech, Eve Energy and Sunwoda ranked seventh, eighth, ninth and tenth respectively, with shares of 4.3 percent, 2.2 percent, 1.8 percent and 1.4 percent respectively in the first quarter.

Global EV battery market share in Jan-Feb: CATL 33.9%, BYD 18.2%

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Gotion posts 135% year-on-year profit growth in Q1, site for US battery plant nears finalization

Gotion is in the process of exploring a battery plant in the US, and the site is close to being decided, a company executive said.

Gotion High-tech, the Volkswagen-backed Chinese power battery giant, reported strong first-quarter results and revealed more about the company's plans to build a battery plant in the US.

Gotion reported first-quarter revenue of RMB 7.18 billion yuan ($1.04 billion), up 83.16 percent from a year earlier, despite a 16.8 percent decrease from the fourth quarter, according to an exchange announcement Friday from the Shenzhen-listed company.

The year-on-year increase in revenue was mainly due to growth in sales, Gotion said in the announcement.

The company reported a net profit of RMB 75.61 million in the first quarter, up 134.81 percent from a year earlier, but down 53.04 percent from the fourth quarter last year.

China's new energy vehicle (NEV) sales saw strong growth in the fourth quarter of last year, as consumers seized the last chance to get state subsidies for NEV purchases. For the first quarter, while it is usually a slow time for auto consumption, a rare price war this year delivered an additional blow.

China's first quarter NEV sales were 1.32 million units, up 23.72 percent year-on-year, but down 26.62 percent from the fourth quarter of last year, according to the China Passenger Car Association (CPCA).

Gotion, China's fourth-largest power battery manufacturer, saw its performance reflect these seasonal trends.

In March, Gotion installed 1.25 GWh of power batteries in China, ranking fourth with a 4.51 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).

China EV battery installations in Mar: CATL overtakes BYD in LFP market for 1st time this year-CnEVPost

Gotion aims to exceed 300 GWh of capacity by 2025, according to its previously announced plans.

In addition to its quarterly earnings report, Gotion announced its annual report, which showed it had revenue of RMB 23.05 billion in 2022, up 122.59 percent year-on-year.

Gotion's revenue in overseas markets in 2022 was RMB 2.98 billion, up 464.76 percent year-on-year.

The company's profit in 2022 was RMB 199 million, up 408.87 percent year-on-year.

US battery factory nears

Gotion is conducting an in-depth exploration of building a battery factory in the US, and the site is now close to being determined, the company's vice president of international operations Ray Chen said Friday while speaking with media, including CnEVPost, at its Hefei headquarters.

The company is well on its way to building a plant in the US as an early move to capture the explosive growth opportunities in the US and Europe in 2025-2027, Chen said.

Influenced by the Inflation Reduction Act, Gotion's US plant is necessary, he added.

"The US and Europe are at the point where rapid growth is about to begin in this industry, and we certainly can't afford to give that business away," Chen said.

Gotion is currently selling batteries to US customers through exports, with sales expected to be $500 million this year, according to the company.

Notably, on October 5 last year, Michigan Governor Gretchen Whitmer said in a statement that Gotion chose to build its $2.36 billion battery component manufacturing facility in Big Rapids.

The Michigan Strategic Fund (MSF) Board approved the investment by Gotion, which will launch a multi-phase project in Big Rapids to build a battery component manufacturing facility there to serve its entire North American and global customer base, according to the statement.

Once completed, Gotion's plant is expected to produce 150,000 tons of cathode material per year, with two 550,000-square-foot production plants planned as well as other supporting facilities, the statement said.

Gotion chairman Li Zhen said at the media event Friday that the battery materials plant is sited in Michigan partly because of the relatively inexpensive supply of hydroelectric power in the area.

Gotion has been in contact with the local government for about two years, and final approval for the plant is pending, Li added.

($1 = RMB 6.9150)

Gotion to build $2.36 billion battery materials plant in Michigan

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Lithium price in China sees 1st rise this year as analysts expect short-term rebound

Lithium prices are expected to stop falling in the near term, but will continue their downward trend over the next two years, analysts say.

Lithium price in China sees 1st rise this year as analysts expect short-term rebound-CnEVPost

The epic decline in lithium carbonate prices is starting to see signs of stopping.

Industrial-grade lithium carbonate price in China rose RMB 2,500 ($362) per ton today to an average of RMB 137,500 per ton, the first single-day increase this year, according to data from Mysteel.

Battery-grade lithium carbonate, on the other hand, remained at RMB 180,000 per ton for the third consecutive day, according to the data.

With the rapid growth of China's electric vehicle (EV) industry, prices for the key raw material for batteries have risen rapidly in the past two years.

At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 per ton in China, about 14 times the average price of RMB 41,000 per ton in June 2020.

Since then, lithium carbonate prices have continued their downward spiral, and even a production disruption in Yichun, Jiangxi, nicknamed the "lithium capital of Asia," at the end of February did not stop the downward trend.

Earlier this month, a local media outlet reported that half of Yichun's four major lithium producers had opted to shut down production to stem the downward price trend.

The accelerating downward trend in lithium carbonate prices is unsustainable, with lithium prices expected to gradually stabilize and possibly even rebound in the short term as inventories decrease, said Chinese brokerage CICC analyst Zhang Jiaming's team in an April 20 research note.

Some companies were choosing to cut production due to oversupply, which is a normal phenomenon that would occur during price reductions, the team said.

However, the team believes the downward trend in lithium prices may not end soon, as the global lithium supply is still in surplus.

Market forces will bring a concentration of new capacity coming online and create supply growth that outpaces demand growth, which is the main driver of the easing lithium supply and demand crunch, the team said.

"We expect global lithium resource supply to grow from 760,000 tons to 1,973,000 tons in 2022-2025, with a CAGR of 37 percent," the team wrote.

Separately, CITIC Securities analyst Bai Junfei's team said in an April 17 research note that current lithium prices have fallen near key cost support levels and could stop falling if downstream demand picks up.

Downstream producers have material inventories that are all at extremely low levels, and overseas lithium prices are at a significant premium to Chinese lithium prices, which are also supportive factors, according to the team.

Notably, CITIC Securities shares CICC's view that lithium prices still have room to fall, as the oversupply will continue.

Global new lithium supply will reach 350,000 tons in 2023, and show a trend of quarterly increase, according to CITIC Securities.

In 2023-2025, total global lithium supply will grow to 1.2 million tons, 1.73 million tons and 2.32 million tons, respectively, with year-on-year growth rates of 44 percent, 41 percent and 34 percent, corresponding to a supply surplus of 74,000 tons, 397,000 tons and 438,000 tons, respectively, according to the team.

As the oversupply expands, lithium prices will still have downward pressure in 2024 and 2025, and there is a risk of further price declines after a temporary stop, the team said.

(1 $= RMB 6.9023)

Analysts explain how falling lithium carbonate prices affect EV costs

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Svolt Energy’s Dragon Armor Battery makes real-life debut at Shanghai auto show

In a 4C fast-charging solution, the Dragon Armor Battery has 32 percent higher pack capacity compared to the 46 series high nickel cylindrical battery, according to Svolt Energy.

(Image credit: Svolt Energy)

Svolt Energy, which was spun off from Great Wall Motor, gave its Dragon Armor Battery its real-life debut at the ongoing Shanghai auto show, after unveiling the battery late last year.

The battery maker showcased the Dragon Armor Battery at the Shanghai auto show -- which began April 18 and runs through April 27 -- with a video of a previous thermal runaway test on display.

In the test, heating triggered a thermal runaway of a cell in the middle of the pack, but no open fire was seen throughout the pack, Svolt Energy said in an April 19 post on its WeChat account.

The single cell runaway did not spread to adjacent cells, achieving the ultimate power battery safety, the article said.

Compared to the 46-series high nickel large cylindrical battery, the Dragon Armor Battery has 5 percent higher capacity on a 2C fast-charging solution, according to Svolt Energy.

On the 4C fast-charging solution, the Dragon Armor Battery has a 32 percent higher pack capacity compared to 46-series high nickel cylindrical batteries, the company said.

In addition, the highly integrated design of the Dragon Armor Battery reduces size and weight, effectively lowering battery costs, according to Svolt Energy.

The battery is compatible with a wide range of chemistries and can be carried in the A00-D class models, it said.

The strong compatibility shortens the development cycle of new models for car companies, and the versatility of the battery pack further reduces procurement costs, according to the company.

Since the announcement, Dragon Armor batteries have received multiple intent orders from customers, Svolt Energy said, without disclosing customer names.

Svolt Energy unveiled the Dragon Armor Battery at its third Battery Day event on December 15 in Changzhou, Jiangsu province, where it is headquartered.

Like BYD's Blade Battery and 's Qilin Battery, Svolt Energy's Dragon Armor is an innovation in battery pack structure that does not involve battery chemistry.

The Dragon Armor Battery system with lithium iron phosphate cells has improved volumetric pack efficiency to 76 percent and can have a range of more than 800 kilometers, the company said at the time.

Dragon Armor batteries with high-manganese iron-nickel cells can achieve a range of more than 900 kilometers, while such batteries with ternary cells can exceed 1,000 kilometers, Svolt Energy said.

The battery is expected to be on production models in 2023, including an SUV and a coupe in production in October 2023, Svolt Energy Chairman and CEO Yang Hongxin said at the Battery Day event.

Svolt Energy installed 0.43 GWh of batteries in China in March, ranking No. 9 with a 1.53 percent share, according to data released this month by the China Automotive Battery Innovation Alliance (CABIA).

Svolt Energy unveils Dragon Armor Battery capable of giving EVs up to 1,000 km of range

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China EV battery installations in Mar: CATL overtakes BYD in LFP market for 1st time this year

CATL's share of the LFP market in March was 39.47 percent, higher than 38.88 percent for , which was No. 1 in the LFP market in both January and February.

China's electric vehicle (EV) battery installations continued to grow last month, with CATL maintaining its lead and regaining the top spot over BYD in the lithium iron phosphate (LFP) battery market.

China's power battery installations in March were 27.8 GWh, up 29.7 percent year-on-year and up 26.7 percent from February, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

CATL's power battery installed base in March was 12.49 GWh, continuing to rank first with a 44.95 percent share, up from 43.76 percent in February.

BYD installed 7.40 GWh of power batteries in March, ranking second with a 26.65 percent share, down 7.54 percentage points from 34.19 percent in February.

CALB saw a market share gain in March, as the company installed 2.86 GWh of power batteries in the month, ranking third with a 10.28 percent share, up 2.89 percentage points from 7.39 percent in February.

Gotion High-tech ranked fourth with a 4.51 percent share of 1.25 GWh installed in March, while Eve Energy ranked fifth with a 3.86 percent share of 1.07 GWh installed.

China's ternary lithium battery installed base in March was 8.7 GWh, accounting for 31.4 percent of the total installed base, up 6.3 percent year-on-year and up 29.8 percent from January.

Lithium iron phosphate (LFP) batteries accounted for 19.0 GWh or 68.5 percent of the total installed base, up 44.4 percent year-on-year and up 25.3 percent from January.

In the ternary Li-ion battery market, CATL ranked first with 56.99 percent of the total installed base of 4.97 GWh in March.

CALB and LG Energy Solution ranked second and third in the ternary battery market with 16.82 percent and 6.52 percent shares, respectively.

In the LFP battery market, CATL topped the list with 39.47 percent of the installed base of 7.51 GWh in March, the first time it overtook BYD in this market this year.

BYD was second in the LFP market with 7.40 GWh installed in March, with a share of 38.88 percent. In both January and February, BYD ranked first in this market, with shares of 51.52 percent and 49.37 percent, respectively.

CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 7.29 percent and 6.20 percent shares, respectively.

Global EV battery market share in Jan-Feb: CATL 33.9%, BYD 18.2%

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