At the end of 2023, the Chinese lithium-ion battery production sector continued to grow at a stable pace, with total production of this type of product increasing by 25% year on year, according to data from the Ministry of Industry and Information Technology of the People's Republic of China.
According to the agency, last year the total production of lithium-ion batteries exceeded 940 gigawatt-hours (GWh).
In value terms, the figure for the period exceeded 1.4 trillion yuan (about 197 billion US dollars) .
The production volume of lithium-ion batteries for energy storage was 185 GWh, and the installed battery capacity exceeded 435 GWh.
According to the data, the export of lithium-ion batteries jumped at the end of 2023 up more than 33% year-on-year to RMB 457.4 billion.
