China’s EV Battery Installations Surge 114.9% MoM in March 2026, Driven by Exports

In March 2026, China’s power battery installations reached 56.5 GWh, surging 114.9% month-over-month and rebounding significantly from the traditional seasonal slowdown seen in January and February. However, this marked a slight year-over-year decline of 0.1%. Cumulative installations for the first quarter totaled 124.9 GWh, down 4.1% year-over-year. By technology type, lithium iron phosphate (LFP) batteries accounted for 45.8 GWh of installations in March, up 122.3% month-over-month, capturing an 81% market share. Ternary batteries recorded 10.7 GWh in installations, rising 88.1% month-over-month and holding a 19% share. Year-over-year, ternary battery installations grew by 7.3%, while LFP installations declined by 1.7%. In terms of market players, CATL and BYD ranked first and second, together commanding a 63.3% market share—down 3.23 percentage points year-over-year. The top five companies collectively held 80.3% of the market, a marginal decrease of 0.24 percentage points compared to the same period last year. Competition among the third to fifth-ranked firms remained intense. Gotion High-Tech maintained steady performance, while LG Energy Solution slipped to sixth place with a shrinking market share. Jiyao Tonghang emerged as a new entrant in the top ten. Meanwhile, the number of battery pack suppliers continued to decline, reflecting accelerated consolidation at the lower end of the market. On the export front, China shipped 22.3 GWh of power batteries in March, up 31.9% month-over-month and 60.2% year-over-year. Exports for the first quarter rose 50.3% year-over-year, solidifying their role as a key growth driver for the industry.