China’s power battery sales up 48.9% in 1st three quarters: Report

BEIJING

China's power battery industry continues to grow rapidly, driven by the global expansion of electric vehicles.

According to a report published by the Equipment Industry Development Center of China's Ministry of Industry and Information Technology, the country's power battery sales increased by 48.9% in the first nine months on a yearly basis.

Power battery sales reached 786 gigawatt-hours, while power battery exports reached 129 gigawatt-hours, a 32.7% increase.

A power battery, or high-power cell, is engineered to supply large currents quickly. It is built with low internal resistance so it can discharge high power without large voltage sag, making it ideal for applications like electric vehicle acceleration and power tools.

Parallel to the proliferation of electric vehicles, power battery installation volume worldwide increased by 27.2% in 2024 to 894.4 gigawatt-hours.

During this period, six of the world's top 10 power battery manufacturers were Chinese companies, and China's share of global power battery installation volume rose nearly 4 percentage points to 67.1%.