According to industry data, the installed capacity of power batteries in China increased quickly in May as a result of the country’s new-energy vehicle (NEV) market’s healthy growth. According to information from the China Association of Automobile Manufacturers, the installed capacity of power batteries over the time period reached 28.2 gigawatt-hours (GWh), an increase of 52.1 percent from the previous year. In NEVs, lithium iron phosphate batteries accounted for about 19.2 GWh, an increase of 87.2 percent from a year earlier and 67.8 percent of the monthly total. According to the association, the installed capacity of power batteries increased 43.5 percent year over year to 119.2 GWh in the first five months of 2023.