In January, lithium iron phosphate accounted for more than 60% of China's power battery market, and ternary batteries grew rapidly

In the Chinese power battery market in January, lithium iron phosphate batteries continued to perform strongly, with an installed capacity of 19.7GWh, accounting for 60.9% of the total installed capacity. Despite a 37.1% decrease from the previous month, its year-on-year growth rate still reached 84.2%. At the same time, the market share of ternary batteries also steadily increased, with an installed capacity of 12.6GWh, accounting for 39.0% of the total installed capacity, achieving an astonishing year-on-year growth of 131.9%, and a month-on-month decrease of only 23.9%.