In July 2024, China's energy storage battery cell production reached 25.55 GWh, down 11% MoM, up 29% YoY.
In July, the mid-year grid connection node of the domestic energy storage market had passed, leading to a slight drop in demand for energy storage battery cells. Meanwhile, the iteration of 314 battery cells accelerated in H2, and some enterprises conducted inventory clearance of 280 battery cells during this period, resulting in a slight decline in energy storage battery cell production in July.Entering August, the demand for the energy storage market gradually recovered. Additionally, due to the increased demand and product maturity of 314 battery cells in H2, battery cell enterprises began to switch their internal production lines. Coupled with stocking up for subsequent concentrated grid connections, it is expected that battery cell production will slightly increase in August.
In August, China's energy storage battery cell production is expected to be 26.98 GWh, up 6% MoM, up 47% YoY.
