FYI

China's lithium-ion battery output up 25% in 2023

Xinhua | Updated: 2024-03-02 16:48

Employees work on a production line of new energy vehicle batteries in Changzhou, Jiangsu province, on Feb 16, 2022. [Photo/Xinhua]

BEIJING -- China's lithium-ion battery sector sustained its growth momentum in 2023, with the total output rising 25 percent year-on-year, official data showed.

The sector saw its total output of lithium-ion batteries exceed 940 gigawatt-hours (GWh) last year, according to the Ministry of Industry and Information Technology.

The output value of the sector surpassed 1.4 trillion yuan ($197 billion) during the same period.

The output of lithium-ion batteries for power storage stood at 185 GWh. The installed capacity of power batteries exceeded 435 GWh.

Exports of lithium-ion batteries in 2023 jumped over 33 percent from a year earlier to 457.4 billion yuan, the data revealed.