China's total lithium battery production will increase by 24% year-on-year in 2024

On the 27th, China's Ministry of Industry and Information Technology released the operating conditions of the national lithium-ion battery industry in 2024. In 2024, the total output of China's lithium-ion batteries (hereinafter referred to as "lithium batteries") increased by 24% year-on-year.
The operating conditions show that in 2024, China's lithium-ion battery industry will continue its growth trend. According to the information of the lithium battery industry standard announcement companies and the industry association, the total output of lithium batteries in the country is 1170GWh (gigawatt-hours, 1 gigawatt-hour equals 1 million kilowatt-hours), an increase of 24% year-on-year. The total output value of the industry exceeds 1.2 trillion yuan (RMB, the same below).
In the battery segment, the output of consumer, energy storage and power lithium batteries in 2024 will be 84GWh, 260GWh and 826GWh respectively. The installed capacity of lithium batteries (including new energy vehicles and new energy storage) exceeds 645GWh, an increase of 48% year-on-year. Affected by the decline in the price of lithium battery products, the total export volume of lithium batteries in the country last year was 434.8 billion yuan, a year-on-year decrease of 5%, a narrower decline of seven percentage points than in the first half of 2024.