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China's power battery installed capacity surges in May
Updated: Jun 12, 2023
Xinhua
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BEIJING - The installed capacity of power batteries in China saw rapid expansion in May amid the sound development of the country's new-energy vehicle (NEV) market, industry data showed.
During the period, the installed capacity of power batteries totaled 28.2 gigawatt-hours (GWh), increasing by 52.1 percent year-on-year, data from the China Association of Automobile Manufacturers revealed.
About 19.2 GWh of lithium iron phosphate batteries were installed in NEVs, surging 87.2 percent from a year earlier, and making up 67.8 percent of the monthly total.
In the first five months of 2023, the installed capacity of power batteries rose 43.5 percent year-on-year to 119.2 GWh, according to the association.
