The installed capacity of power batteries exceeded 435 GWh. Exports of lithium-ion batteries in 2023 jumped over 33 percent from a year earlier to 457.4 billion yuan, the data revealed. China's lithium-ion battery sector sustained its growth momentum in 2023, with the total output rising 25 percent year on year, official data showed.
In the first three months, China's lithium battery exports reached 109.79 billion yuan ($17.2 billion), a yearly growth of 94.3 percent, according to data from the General Administration of Customs. The export surge took place throughout last year.
They also have advantages in pricing due to the increased production capacity and volume, and the ability to supply sustainably," he said. According to a report by Chuancai Securities, from 2017 to 2020, China's lithium battery exports increased steadily at a rate of 20-35 percent per year.
Zhao Weijun, president of the China branch of battery maker Envision AESC Group Ltd, which is headquartered in Shanghai, said at a recent forum that there will be an estimated 400 gigawatt-hours of capacity demand for batteries in overseas markets by 2026.
The output value of the sector surpassed 1.4 trillion yuan (about 197 billion U.S. dollars) during the same period. The output of lithium-ion batteries for power storage stood at 185 GWh. The installed capacity of power batteries exceeded 435 GWh.
The output of lithium-ion batteries for power storage stood at 185 GWh. The installed capacity of power batteries exceeded 435 GWh. Exports of lithium-ion batteries in 2023 jumped over 33 percent from a year earlier to 457.4 billion yuan, the data revealed.
Yuan Gao
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