China's power battery installed capacity surges in May

BEIJING - The installed capacity of power batteries in China saw rapid expansion in May amid the sound development of the country's new-energy vehicle (NEV) market, industry data showed.

During the period, the installed capacity of power batteries totaled 28.2 gigawatt-hours (GWh), increasing by 52.1 percent year-on-year, data from the China Association of Automobile Manufacturers revealed.

About 19.2 GWh of lithium iron phosphate batteries were installed in NEVs, surging 87.2 percent from a year earlier, and making up 67.8 percent of the monthly total.

In the first five months of 2023, the installed capacity of power batteries rose 43.5 percent year-on-year to 119.2 GWh, according to the association.