Large increase in lithium battery exports from China
Technological progress, increasing demand for renewable energy and electric vehicles, growing production capacity and competitive prices are just some of the reasons why Chinese lithium batteries are gaining popularity around the world.
➡ According to data provided by China’s General Administration of Customs, already in the first three months of this year, China’s lithium battery exports reached 109.79 billion yuan ($17.2 billion), which means an annual increase of 94.3 percent.
➡ According to a report by Chuncai Securities, from 2017 to 2020, China’s lithium battery exports grew steadily at an annual rate of 20-35 percent. In 2021 and 2022, however, there was an explosive growth of 66.5 percent and 86.7 percent, respectively. China’s total lithium battery exports in 2022 amounted to 342.65 billion yuan.
➡ Why China is the leader in the lithium battery industry? First of all, Chinese suppliers have an advantage in terms of scale, capacity and prices offered. Thanks to the large production capacity, Chinese companies are able to supply huge quantities of batteries at favorable prices and meet the diverse needs of different lithium battery users.
Everything points to the fact that the popularity of lithium batteries will continue to grow. When running a business based on the sale of lithium batteries, or devices for batteries of this type, it is worth to consider cooperation with the world leader in this field. China will provide not only a large selection and competitive prices, but also access to the cutting-edge technology.
