Battery production rose rapidly in August on the back of a boom in the New Energy Vehicle (NEV) market. This is evidenced by the data released by the China Automobile Industry Association.
Last month, NEV battery installations grew 121% year-on-year to a total of 27.8 gigawatt-hours (GWh).
In August, about 17.2 GWh of lithium iron phosphate (LiFePO4) batteries were installed in vehicles powered by new energy sources, up 138.6% from a year earlier. They accounted for 62% of the volume of all installed batteries for the month.
In August, China's NEV sales market continued to maintain growth rates, according to the association. At the same time, sales doubled compared to August 2021 and amounted to 666,600 units, setting a record.
