Domestic EV Battery Installations Hit 74.6 GWh in July, Up 33.5% YoY

According to data from the China Automotive Battery Industry Innovation Alliance, China's domestic power battery installations reached 74.6 GWh in July, down 2.5% month-over-month but up 33.5% year-over-year. Of this, ternary battery installations amounted to 11.1 GWh, accounting for 14.9% of the total, representing a 12.1% month-over-month decline and a 1.8% year-over-year increase. Lithium iron phosphate (LFP) battery installations totaled 63.1 GWh, making up 84.6% of the total, down 1.0% month-over-month but up 40.5% year-over-year. From January to July, cumulative domestic power battery installations reached 410.2 GWh, an increase of 15.4% year-over-year. Ternary battery installations during this period totaled 74.5 GWh, or 18.2% of the total, up 12.1% year-over-year. LFP battery installations reached 335.1 GWh, accounting for 81.7% of the total, with a year-over-year increase of 16.0%.