Produced by Zhineng Auto
Regarding battery data in China for March and the first quarter, we can analyze it from two dimensions: structure and trends. We will first look at the structure and then the trends.
Part 1: Structure in March and the First Quarter
01: Structure in March
● In March, the production volume of large batteries (power and energy storage batteries) reached 177.7 GWh, a year-on-year increase of 50.2%.
● Sales volume reached 175.1 GWh, a year-on-year increase of 51.6%.
◎ Power batteries accounted for 114.7 GWh, representing 65.5% of total sales, a year-on-year increase of 31.1%;
◎ Energy storage battery sales reached 60.4 GWh, accounting for 34.5% of total sales, a year-on-year increase of 115.9%.
● Total battery exports in March reached 36.1 GWh, a year-on-year increase of 57.1%, accounting for 20.6% of the month's sales.
◎ Power battery exports reached 22.3 GWh, accounting for 61.7% of total exports, a year-on-year increase of 60.2%;
◎ Energy storage battery exports reached 13.8 GWh, accounting for 38.3% of total exports, a year-on-year increase of 52.4%.
● Domestic installed capacity of power batteries reached 56.5 GWh, a year-on-year decrease of 0.1%.
There is a discrepancy of 35.8 GWh here. On one hand, batteries for the export of 371,000 complete vehicles account for approximately 20 GWh. The remaining portion was produced in advance to prepare for domestic demand stimulation in Q2.
◎ In March, the domestic installed capacity of ternary batteries was 10.7 GWh, accounting for 19.0%, a year-on-year increase of 7.3%;
◎ LFP batteries accounted for 45.8 GWh, representing 81.0%, a year-on-year decrease of 1.7%;
◎ Installed capacity in pure electric passenger vehicles was 32.1 GWh, accounting for 56.9%, a year-on-year decrease of 13.0%;
◎ Installed capacity in plug-in hybrid passenger vehicles was 9.6 GWh, accounting for 17.0%, a year-on-year decrease of 1.2%;
◎ Installed capacity in pure electric trucks was 13.0 GWh, accounting for 23.0%, a year-on-year increase of 54.2%;
◎ Installed capacity in pure electric special vehicles was 1.2 GWh, accounting for 2.1%, a year-on-year increase of 33.8%;
◎ Installed capacity in pure electric buses was 0.4 GWh, a year-on-year decrease of 5.4%.
02: Structure in the First Quarter
● In the first quarter, production volume reached 487.4 GWh, a year-on-year increase of 49.3%;
● Sales volume reached 437.1 GWh, a year-on-year increase of 52.9%.
◎ Power battery sales reached 291.9 GWh, accounting for 66.8%, a year-on-year increase of 34.3%;
◎ Energy storage battery sales reached 145.1 GWh, accounting for 33.2%, a year-on-year increase of 111.8%.
● From January to March, exports reached 84.1 GWh, a year-on-year increase of 36.7%, accounting for 19.3%.
◎ Cumulative power battery exports reached 56.8 GWh, accounting for 67.6%, a year-on-year increase of 50.3%;
◎ Energy storage battery exports reached 27.3 GWh, accounting for 32.4%, a year-on-year increase of 15.0%.
● From January to March, the domestic installed capacity of power batteries was 124.9 GWh, a year-on-year decrease of 4.1%.
◎ Cumulative installed capacity of ternary batteries was 25.8 GWh, accounting for 20.7% of total installed capacity, a year-on-year increase of 3.3%;
◎ Cumulative installed capacity of LFP batteries was 99.0 GWh, accounting for 79.3%, a year-on-year decrease of 5.9%.
Part 2: Trend Analysis
Viewed from a historical perspective, the current data is indeed remarkable, which is clearly evident from the following charts.
Production volume increased by 26 GWh. Part of this increase was driven by higher battery exports, and another part by increased exports of complete vehicles, while domestic demand remained basically unchanged.
From the perspective of the domestic market, battery demand this year is likely to be similar to last year.
Power battery exports increased by an additional 8 GWh.
Part 3: Supplier Perspective
● Market Share
◎ CATL's installed capacity reached 25.71 GWh, with a market share of 45.54%;
◎ BYD reached 10.06 GWh, accounting for 17.83%.
◎ CALB (3.52 GWh, 6.23%), Gotion High-Tech (3.37 GWh, 5.97%), and EVE Energy (2.74 GWh, 4.86%) are clustered around the 5% range.
◎ LG Energy Solution ranked sixth with 1.92 GWh (3.40%).
◎ REPT BATTERO (1.54 GWh), Sunwoda (1.40 GWh), JET Energy (1.35 GWh), and ZENITH (1.31 GWh) are all in the 2%-3% range.
● Powertrain Types
◎ CATL's installed capacity in passenger vehicles was 19.28 GWh, including 15.41 GWh for BEVs and 3.87 GWh for PHEVs; commercial vehicles accounted for 6.43 GWh.
◎ BYD's installed capacity was 8.60 GWh for passenger vehicles and 1.47 GWh for commercial vehicles.
◎ Gotion High-Tech and CALB have relatively higher shares in the commercial vehicle sector, reaching 1.42 GWh and 1.69 GWh, respectively.
◎ SVOLT and other enterprises have a higher proportion of PHEV applications.
Summary
Analyzing the data from the perspectives of structure, trends, and individual suppliers provides a more comprehensive view.