New energy vehicle production and sales hit a record high
Recently, data from the China Association of Automobile Manufacturers showed that in October, the domestic production and sales of new energy vehicles were 397,000 and 383,000, respectively, representing an increase of 12.46% and 7.28% from the previous month, and a year-on-year increase of 317.89% and 139.38%. The production and sales volume maintained an upward trend. . From January to October, the production and sales of new energy vehicles were 2.558 million and 2.526 million, respectively, a year-on-year increase of 1.61 times and 1.66 times. The shortage of chips and the continuous increase in raw material prices have not reduced the high prosperity of new energy vehicles. With the impulse and policy support of auto companies at the end of the year, it is expected that there will still be room for growth in future production and sales.
Driven by the demand for downstream power batteries, the output of power batteries reached a new high. According to data from the China Power Battery Alliance, in October, China’s total power battery output reached 25.10GWh. The monthly output broke through the 25GWh mark for the first time and hit a record high, with a year-on-year increase of 154.6% and a month-on-month increase of 8.4%, achieving a continuous increase since February this year. Increase in the 8th month. Among them, ternary battery output was 9.2GWh, accounting for 36.65% of total power battery output, a decrease of 4.5% from the previous month, and a year-on-year increase of 93.5%. Compared with the growth rate in the previous months, the first negative growth occurred from the previous month; the output of lithium iron phosphate batteries 15.9GWh, accounting for 63.3% of the total output of power batteries, a year-on-year increase of 314%, and a month-on-month increase of 17.6%. From January to October, the proportion of lithium iron phosphate output in the total cumulative output of power batteries continued to rise, accounting for 54.8% of the total output of power batteries, and the gap in the market share of ternary iron lithium batteries was gradually widening.
Seasonal fluctuations superimposed on the surge of upstream raw materials, and the loading volume ushered in a decline for the first time after a positive increase for the fifth consecutive month. In October, my country’s power battery installed capacity was 15.4GWh, a year-on-year increase of 162.8% and a month-on-month decrease of 1.8%. Among them, a total of 7GWh of ternary batteries were installed, a year-on-year increase of 104.3%, and a month-on-month increase of 13.5%; a total of 8.4GWh of lithium iron phosphate batteries were installed, a year-on-year increase of 249.5%, and a month-on-month decrease of 11.6%. From January to October, the installed capacity of power batteries in my country was 107.5GWh, a year-on-year increase of 168.1%. Among them, the ternary battery loading volume was 54.1GWh, accounting for 50.3% of the total loading volume, an increase of 100.1% year-on-year; the lithium iron phosphate battery loading volume was 53.2GWh, accounting for 49.5% of the total loading volume, an increase of 316.4% year-on-year. Due to seasonal factors such as the temperature drop, consumption has shifted to ternary batteries, combined with the recent continuous rise in upstream prices, and iron-lithium installed capacity has experienced negative growth. In the context of the demand for cost reduction by car companies, the medium and long-term demand for iron and lithium is still improving.
