By Li Panpan

(JW Insights) Jun 13 -- The installed capacity of power batteries in China totaled 28.2 gigawatt-hours (GWh) in May, up by 52.1% year-on-year, JW Insights learned from data of the China Automotive Battery Innovation Alliance (CABIA).

The rapid expansion is driven by the sound development of the country's new-energy vehicle (NEV) market, said a China Daily report on June 12.

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

In May, the top five companies with the installed capacity of power batteries in China were CATL, BYD, CALB, EVE Energy, and Gotion High-Tech.

CATL ranked first with 11.67GWh, followed by BYD’s 8.68GWh, and CALB’s 2.19GWh in May, with a market share of 41.31%, 30.72%, and 7.76%, respectively.

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

(Chen HX)