China Passenger Car Association: In February, new energy vehicle power battery installations decreased by 19.2% year-on-year

The Passenger Car Association released the insights report on the three electric systems of new energy vehicles for February 2026. In February 2026, the installed capacity of power batteries for new energy vehicles was 27.3 GWh, a year-on-year decrease of 19.2%. The cumulative year-on-year growth rate of the power battery market from January to February reached 37.4%. As sales of new energy vehicles continue to rise, the penetration rate of new energy vehicles is steadily increasing, driving continuous growth in installed power battery capacity. From January to February 2026, the average battery capacity per new energy vehicle was 62.0 kWh, a year-on-year increase of 29.2%. Among them, Xiaomi, BYD, and Tesla have become the main contributors to the installed capacity of power batteries. In terms of battery cell materials, lithium iron phosphate still holds a high market share. Lithium iron phosphate batteries, with their comprehensive advantages in cost, safety, and performance, as well as driven by policies, market dynamics, and energy storage, continue to increase their share in the new energy vehicle market. (Passenger Car Association)