Daily Times

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.