China leads the world in the development of power batteries for new energy vehicles (NEVs), a report released by the Ministry of Industry and Information Technology said Thursday.
The annual report on the country's power battery and hydrogen fuel cell industry puts the gross installed national battery power capacity at 531.9 gigawatt hours (GWh), the world's largest. The report for 2021-2022 was released at the World EV and ES Battery Conference that has opened in Yibin City, southwest China's Sichuan Province, with the theme "Intelligent Green Power, Shared Low-carbon Future." The three-day event highlights the latest battery technologies and sustainable ways of travel.
The top three companies in the global index for power battery industry development and technological advancement are from China, South Korea and Japan, said the report.
China has seen a relatively large increase in market share, thanks mainly to the rapidly growing size of its new energy vehicle (NEV) market.
North America and European nations such as the U.S., Germany and France also show an increasing trend.
The report says China, South Korea and the U.S. attach more importance to the formulation and initiative of technical standards, and the number of standards issued by China accounts for more than 40 percent of the worldwide total.
By the end of June, China's power battery installed capacity reached 531.9 GWh, maintaining its place in the lead. The global installed power battery capacity in 2021 was about 295.9 GWh, while that of China amounted to 154.5 GWh, more than half the global total. Chinese enterprises occupy six of the top ten places for installed power battery capacity, with a market share of about 48 percent.
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