China's Electric Vehicle Battery Usage in September Up 45.1% Year-on-Year

Battery Usage Increases for 3 Consecutive Months from July
Double-Digit Growth Rates in August and September
China's Electric Vehicle Sales Up 48.5%, Driving Battery Usage Increase

[Asia Economy Reporter Hwang Yoon-joo] In September this year, the usage of batteries installed in electric vehicles (EV, PHEV, HEV) in China surged by double digits compared to the same month last year. Although battery usage in China had declined for 11 months from August last year to June this year, it has increased for three consecutive months since July due to the recovery in electric vehicle sales.

SNE Research announced on the 28th that the total battery energy capacity of electric vehicles registered in China in September this year reached 6.4 GWh, a 45.1% increase compared to the same month last year. Since a slight increase (3.0%) in July, the growth trend has been expanding.

By electric vehicle type, battery usage increased for BEV, PHEV, and HEV, with BEV and PHEV, which have larger battery capacities, experiencing a surge of more than double digits.

On a cumulative basis from January to September, battery usage for electric vehicles in China was 34.4 GWh, a 23.5% decrease compared to the same period last year. However, the cumulative decline narrowed somewhat compared to January to August (31.2%).

In fact, electric vehicle sales in China in September recorded 169,000 units, a 48.5% increase compared to the same month last year. After declining for 12 months from July last year to June this year, the market has maintained a high growth rate of over 30% for three consecutive months. Sales of all three types of electric vehicles increased, centered on BEV and PHEV.

In terms of electric vehicle (BEV+PHEV) sales by company in September, many companies led market growth, including Shanghai GM Wuling and BYD, which ranked first and second. Shanghai GM Wuling maintained its top position with over 20,000 units sold of the Hongguang Mini EV. BYD ranked second, supported by strong sales of the Han EV, Qin EV, and Han PHEV. FAW-Volkswagen ranked fourth, showcasing the industry's best growth with strong sales of the Tayron GTE and Magotan GTE, while Great Wall Motors and Leading Ideal also showed four-digit growth. Additionally, Tesla, Guangzhou Automobile, and Nio (Weilai) expanded their market presence by achieving double-digit growth rates above the market average.

In contrast, Chery was the only major company to experience a sales decline, struggling with poor performance, and SAIC's Roewe brand saw its market share fall due to growth rates below the market average. Based on cumulative sales from January to September, BYD reclaimed the top spot despite a cumulative sales decline, while Tesla dropped to second place despite more than doubling its cumulative sales.

FAW-Volkswagen stood out with the industry's highest growth rate. Shanghai GM Wuling, Guangzhou Automobile, and Nio (Weilai) also recorded solid double-digit growth. On the other hand, Great Wall Motors, SAIC-Volkswagen, and Chery remained in negative growth, creating a contrast.

Meanwhile, the overall cumulative decline narrowed somewhat to -29.6% from January to August. Considering the continued monthly increase in electric vehicle sales in China for the time being, the decline is expected to persist going forward.

This content was produced with the assistance of AI translation services.