China's lithium-ion battery output up 25 pct in 2023

BEIJING, March 2 (Xinhua) -- China's lithium-ion battery sector sustained its growth momentum in 2023, with the total output rising 25 percent year on year, official data showed.

The sector saw its total output of lithium-ion batteries exceed 940 gigawatt-hours (GWh) last year, according to the Ministry of Industry and Information Technology.

The output value of the sector surpassed 1.4 trillion yuan (about 197 billion U.S. dollars) during the same period.

The output of lithium-ion batteries for power storage stood at 185 GWh. The installed capacity of power batteries exceeded 435 GWh.

Exports of lithium-ion batteries in 2023 jumped over 33 percent from a year earlier to 457.4 billion yuan, the data revealed.