GGII: The domestic installed capacity of power batteries in 2024 is expected to be approximately 531GWh, a year-on-year increase of 47.6%.

According to the statistics of GGII based on the data of compulsory insurance for new energy vehicles, Shanxi Guoxin Energy Corporation is estimated to sell around 11.35 million cars in 2024, a year-on-year increase of 49.7%; the installed capacity of power batteries is about 531GWh, a year-on-year increase of 47.6%. 01 The growth rate of installed capacity of special vehicle power batteries is as high as 122%. In terms of application areas of installed capacity, in 2024, the installed capacity in the field of new energy passenger vehicles is about 468.1GWh, a year-on-year increase of 42%; the installed capacity in the field of new energy buses is about 9.9GWh, a year-on-year increase of 64%; the installed capacity in the field of new energy special vehicles is about 52.9GWh, a year-on-year increase of 122%. 02 The installed capacity of lithium iron phosphate power batteries continues to increase year-on-year. In terms of battery types of installed capacity, in 2024, the installed capacity of lithium iron phosphate power batteries is about 367.7GWh, a year-on-year increase of 60%, accounting for 69.2% of the market share, an increase of 5.3 percentage points from the same period last year; the installed capacity of ternary power batteries is about 159.3GWh, a year-on-year increase of 23%; the installed capacity of other types is 4GWh, a year-on-year increase of 534%, including mainly ternary + lithium iron manganese oxide 2.7GWh, currently mainly used for installation in the applications of Zhejiang JEOS S7, JEOS S9 and Enjoy S9. 03 The installed capacity of soft pack power batteries sees a significant decline. In terms of different battery shapes, in 2024, the installed capacity of square power batteries is about 513.7GWh, a year-on-year increase of 52%; the installed capacity of soft pack power batteries is about 6.4GWh, a year-on-year decrease of 37%; the installed capacity of cylindrical power batteries is about 10.9GWh, a year-on-year decrease of 1%.