On February 18, the China Association of Automobile Manufacturers released monthly data on automobile production and sales and power batteries in January 2022. Among them, although the production and sales of new energy vehicles declined in January, they still maintained rapid growth year-on-year. The output and loading volume of power batteries also showed a downward and year-on-year increase.
In January, the production and sales of new energy vehicles reached 452,000 units and 431,000 units, respectively, down 12.6% and 18.6% month-on-month, up 1.3 times and 1.4 times year-on-year, and the scale of production and sales was much higher than that of the same period last year. At the same time, the market share of new energy vehicles reached 17% in January, and the market share of new energy passenger vehicles reached 19.2%, which continued to be higher than the level of last year.
In terms of exports, the contribution of new energy vehicles to export growth in January was 43.7%, which was relatively good.
By model, production and sales of pure electric vehicles in January totaled 367,000 units and 346,000 units, respectively, down from the previous month, but up 1.2 times year-on-year. Production and sales of plug-in hybrid vehicles in January were 85,000 units, up 2.0 times year-on-year. The production and sales of fuel cell vehicles were 142 and 192 units, respectively, an increase of 3.9 times and 2.0 times year-on-year, respectively.
It can be seen that compared with the same period last year, the production and sales of pure electric vehicles and plug-in hybrid vehicles still continue to grow at a high speed. Although the data of fuel cell vehicles is growing rapidly, the overall market performance is still relatively flat due to the small base.
In the same way as the pace of production and sales of new energy vehicles, the production and loading of power batteries in January also showed a slight decline from the previous month and a rapid growth year-on-year.
In January, the production of power batteries in the mainland totaled 29.7GWh, down 6.2% month-on-month and up 146.2% year-on-year. Among them, the output of ternary batteries reached 10.8GWh, accounting for 36.5% of the total output; the output of lithium iron phosphate batteries reached 18.8GWh, accounting for 63.3% of the total output. With the gradual decline of subsidies and the multiple impacts of market diversification needs, lithium iron phosphate batteries have slowly become the mainstream of the market.
In terms of loading volume, the loading volume of power batteries in January totaled 16.2GWh, down 38.3% month-on-month and up 86.9% year-on-year. Among them, the installed capacity of ternary batteries and lithium iron phosphate batteries was 7.3GWh and 8.9GWh respectively, which were listed 35.2% and 172.7% respectively year-on-year. It is expected that as more car companies launch affordable models, the share of lithium iron phosphate batteries will continue to increase.
In January, a total of 35 power battery companies in the mainland new energy vehicle market achieved loading equipment, a decrease of 1 compared with the same period last year. The top 3, top 5 and top 10 power battery companies have installed 12.7GWh, 14.1GWh and 15.3GWh respectively, accounting for 78.6%, 87.1% and 94.8% of the total installed vehicles, respectively, which is still relatively concentrated.
The Ningde era still occupies the top spot in the installed volume of power batteries, and is leading the ternary battery market. However, in the lithium iron phosphate market, BYD's power battery loading volume has almost caught up with the Ningde era, with the continuous improvement of BYD application blade battery model sales, and gradually supply batteries to the outside world, it is expected to catch up with the Ningde era in the lithium iron phosphate market.