China's lithium-ion battery sector expands rapidly in 2022

China's lithium-ion battery industry sustained rapid growth in 2022, official data showed. This was reported by The Xinhua News Agency.

The total output of lithium-ion batteries exceeded 750 gigawatt-hours (GWh) last year, soaring 130% year on year, data from the Ministry of Industry and Information Technology revealed.

The total output value exceeded ¥1.2 trln (about $174.06 bln) as the industrial scale further expanded last year.

China's robust lithium-ion battery output echoes the country's booming production of new energy vehicles (NEVs). The installed capacity of power batteries for NEVs came in at about 295 GWh last year.

Exports of lithium-ion battery products jumped 86.7% year on year to ¥342.65 bln, according to the ministry.