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China's ternary power battery market in 2021

Large  Small Date:2021-09-22  From:ICC Battery
In July 2021, the installed capacity of ternary batteries was 5.8GWh, a decrease of 7.6% month-on-month and an increase of 65.3% year-on-year. In July alone, CALB, Farasis, EVE Battery and JEVE all have good performance.

From January to July in 2021, the total installed capacity of ternary batteries in China’s domestic new energy vehicle market is 34.5GWh, and the installed capacity of Top10 enterprises accounted for 90.6%, and the industry concentration increased by 8.0% over last year. CATL, LG Chem, CALB, Farasis, SVOLT and EVE Battery all performed stronger in ternary battery installation than last year, while the performance of BYD and Lishen showed a downward trend in the ternary battery market.

In January-July 2021, Top 10 car companies’ insurance sales accounted for 68.2%, of which 759,414 vehicles are installed with ternary batteries, 510,703 vehicles installed with lithium iron phosphate batteries. The Top10 car companies’ vehicles installed with ternary batteries accounted for 59.8% of all ternary battery vehicles, and the Top 10's LFP vehicles accounting for 80.9% of all are lithium iron phosphate vehicles.
During January-July 2021, only 23.4% of vehicles sold by SAIC-GM-Wuling are installed with ternary power batteries. The proportion of BYD and Tesla vehicles equipped with ternary batteries is 32.7% and 44.4%, respectively. Thus, the Top 3 car companies are all equipped with less than 50% of ternary batteries during this period. 
In comparison, more than 80% of vehicles sold by Great Wall, GAC, NIO and Lixiang are equipped with ternary power batteries.

From January to July in 2021, in the domestic new energy vehicle market, Top 10 new energy vehicle companies equipped with ternary batteries accounted for 65.6% of the installed capacity of ternary batteries, which was 5.5% less than in 2020. The market share decline of the Top 10 companies’ installed ternary battery capacity is mainly because Tesla and BYD increased the installed capacity of lithium iron phosphate batteries and reduced ternary batteries.
Among the Top 10 new forces, the ternary installed capacity of NIO-XPeng-Li Auto (NXL) has increased significantly, mainly because NXL's total market share has increased by 1%-2%; while NIO and Lixiang Auto currently only carry for ternary batteries, some vehicles sold by Xpeng in April this year began to carry lithium iron phosphate batteries.

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