Workers work on a power battery production line at a battery production company in Hefei Economic and Technological Development Area in Hefei, east China's Anhui Province, July 29, 2022. (Xinhua/Liu Junxi)
BEIJING, July 18 (Xinhua) -- The added value of lithium-ion battery manufacturers with main business revenue of 20 million yuan and above increased 29.7 percent year on year in the first half, Fu Linghui, spokesperson for the National Bureau of Statistics, told a press conference on Monday.
The growth was mainly driven by the rising demand for lithium iron phosphate (LiFePO4) batteries used for energy storage, reported the Xinhua-run Shanghai Securities News quoting a senior executive of a listed lithium battery cathode material company.
The shipment of lithium batteries for energy storage went up 40 percent month on month during the April-June period, while that of lithium batteries used in electric vehicles rose 17.6 percent month on month, showed data from Gaogong industry research institute specialized in the lithium battery industry.
According to statistics from the energy storage division of China Battery Industry Association, up to 76 percent of contracted energy storage projects in the second quarter use LiFePO4 batteries.
In terms of foreign trade, the combined exports of lithium batteries, solar cells, and electric passenger vehicles jumped 61.6 percent year on year in the first six months, according to Fu. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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