Significant growth in domestic power battery installations is expected by 2025.

From January to October 2025, the installed capacity of power batteries in China reached 578.0 GWh, a year-on-year increase of 42.4%. Among them, the installed capacity of lithium iron phosphate batteries was 470.2 GWh, accounting for 81.3% of the total installed capacity, a year-on-year increase of 59.7%. The installed capacity of ternary lithium batteries was 107.7 GWh, accounting for 18.6% of the total installed capacity, a year-on-year decrease of 3.0%.