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China's lithium-ion battery sector expands rapidly in 2022

Updated:2023-02-27 14:32:20

Aerial photo taken on June 24, 2022 shows the headquarters of Contemporary Amperex Technology Co., Ltd. (CATL) and its manufacturing base in Ningde, east China's Fujian Province. (Xinhua/Lin Shanchuan)

China's lithium-ion battery industry sustained rapid growth in 2022, official data showed.

The total output of lithium-ion batteries exceeded 750 gigawatt-hours (GWh) last year, soaring 130 percent year on year, data from the Ministry of Industry and Information Technology revealed.

The total output value exceeded 1.2 trillion yuan (about 174.06 billion U.S. dollars) as the industrial scale further expanded last year.

China's robust lithium-ion battery output echoes the country's booming production of new energy vehicles (NEVs). The installed capacity of power batteries for NEVs came in at about 295 GWh last year.

Exports of lithium-ion battery products jumped 86.7 percent year on year to 342.65 billion yuan, according to the ministry.