70% are lithium iron phosphate batteries!
On Mar. 10, data released by China Automotive Power Battery Industry Innovation Alliance (" Battery Alliance ") showed that in February 2023, China's load of power batteries was 21.9GWh, a year-on-year growth of 60.4% and a month-on-month growth of 36.0%.
Among them, the load of ternary battery is 6.7GWh, accounting for 30.6% of the total load, with a year-on-year growth of 15.0% and a quarter-on-quarter growth of 23.7%. The loading volume of lithium iron phosphate battery was 15.2GWh, accounting for 69.3% of the total loading volume, with a year-on-year growth of 95.3% and a quarter-on-quarter growth of 42.2%.
As can be seen from the above data, the proportion of lithium iron phosphate batteries in the total load of vehicles has been very close to 70%.
Another trend is that shipments of lithium iron phosphate batteries are growing much faster than those of three-way batteries, both year-on-year and month-on-month. According to this trend, the market share of lithium iron phosphate battery load will soon exceed 70%!