South Korean media: Chinese iron phosphate battery orders are pouring in, and the company is now operating at full capacity!
On December 17, South Korean media NEWSPIM published an article stating that according to investigations, Chinese iron phosphate battery companies have received many orders.
Since the third quarter, the iron phosphate battery industry has significantly recovered, with its market share in the automotive battery sector remaining above 80%, and demand for energy storage systems (ESS) applications is also very strong. After more than two years of price adjustment, the iron phosphate battery industry has seen a turning point since September this year, with prices beginning to rise.
A CEO of a Chinese iron phosphate battery material company explained, "Orders are coming in one after another, and we cannot meet all the demands. We are currently selecting cooperative customers to take on orders." He also added, "The prosperity of iron phosphate batteries is expected to continue until next year."
Another company executive said, "Since the third quarter, the shipment of iron phosphate batteries has maintained double-digit month-over-month growth, with high-density iron phosphate battery products accounting for more than half of the shipments. Orders will continue until the first half of next year, and production facilities are currently operating at full capacity."
In October, the utilization rate of China's battery industry reached 75.9%, an increase of 2.5 percentage points compared to the previous month. Nearly all of the top ten iron phosphate battery companies have reached their production capacity peak, and companies with idle capacity are also restarting production. Iron phosphate batteries are no longer just representative of low-cost electric vehicles; they have become the absolute mainstream in automotive batteries.
In the third quarter of this year, the cumulative usage of new energy vehicle batteries in China reached 493.9 GWh, an increase of 42.5% year-on-year. Among them, the usage of iron phosphate batteries was 402.6 GWh, an increase of 62.7% year-on-year, accounting for 81.8% of the total battery volume.
In particular, the supply of high-specification products such as high-voltage batteries, fourth-generation iron phosphate batteries, and energy storage-specific iron phosphate batteries cannot meet the demand.
Original article: toutiao.com/article/1851746135907524/
Statement: This article represents the views of the author alone.