China's energy storage battery exports in May increased by more than 650% year-on-year

China's energy storage battery exports in May increased by more than 650% year-on-year

From January to May 2024, China's cumulative energy storage battery exports were 8.4GWh, a year-on-year increase of 50.1%, which was much higher than the 2.9% growth rate of power batteries in the same period. In particular, in May, the export volume of energy storage batteries reached 4GWh, a year-on-year increase of 664%. China's energy storage battery exports have clearly ushered in a peak period. Industry insiders said that with the release of battery cell supply and the intensification of price wars in the energy storage market, the revenue growth rate and profitability of various companies have clearly diverged. Companies with strong overseas order acquisition capabilities have seen significant growth in volume and profit. In the future, companies with global business layout, vertically integrated industrial chains and good financing capabilities will have more competitive advantages in market share and profitability.

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