According to the statistics and analysis of the China Association of Automobile Manufacturers, in June 2022, the production and sales of new energy vehicles reached a new high. The production and sales of new energy vehicles reached 590,000 and 596,000 respectively, an increase of 1.3 times year-on-year, and the market share reached 23.8%, continuing to maintain a rapid growth trend; from January to June 2022, the production and sales of new energy vehicles will be 2.661 million and 2.6 million respectively, an increase of 1.2 times year-on-year, and the market share will reach 21.6%, ahead of schedule which was proposed in “New Energy Vehicle Industry Development Plan (2021-2035)” that by 2025, the proportion of new energy vehicle sales will reach about 20%.
The continuous growth of new energy vehicle production and sales has driven the increase in power battery production. According to the statistics of China Automotive Power Battery Industry Innovation Alliance, from January to June 2022, China’s power battery output accumulated to 206.4GWh, a year-on-year increase of 176.4%. Among them, the cumulative output of ternary batteries was 82.9GWh, accounting for 40.2% of the total output, a year-on-year increase of 125.0%; the cumulative output of lithium iron phosphate batteries was 123.2GWh, accounting for 59.7% of the total output, a year-on-year increase of 226.8%.
