Cui Dongshu: From January to July, the export value of lithium batteries reached 58 billion USD, with a year-on-year growth of 33% in July alone.

Cui Dongshu, Secretary-General of the Passenger Car Association (PCA), stated that lithium battery exports from January to July 2026 reached 58 billion US dollars, an increase of 41%; in July, lithium battery exports remained at 9.4 billion US dollars, a year-on-year increase of 33%. In recent months, the export prices of lithium-ion batteries have seen a slight month-on-month increase, while continuing to decline year-on-year. In July 2026, lithium battery exports amounted to 600,000 tons, with an export value reaching 9.4 billion US dollars. The export price of lithium-ion batteries fell from 27,300 US dollars per ton in 2023, to 20,100 US dollars per ton in 2024, then to 15,700 US dollars per ton in 2025, and further down to 15,200 US dollars per ton in 2026, marking a decline of only 8%. This drop is significantly less than the 26% decrease in 2024 and the 22% decrease in 2025, indicating substantial improvement. However, the average export price of lithium batteries in July was 15,500 US dollars per ton, reflecting a year-on-year increase of 2%, with improvements in the per-ton export price. The primary market for China's lithium battery exports is the European Union, which accounted for about 42% of market demand in 2026, increasing by 2 percentage points compared to 2025. However, the export of lithium batteries to the United States has sharply declined to 10%, a decrease of 6 percentage points compared to 2025. The ongoing decline in exports to the United States remains severe. Analyzing the export price in Renminbi shows a significant decline this year, with lithium battery export prices continuing to drop in recent years. Regardless of fluctuations in lithium carbonate prices, the prices of exported lithium batteries continue to fall. The export price of lithium batteries dropped from 142,900 RMB in 2024, by 26%, to 112,300 RMB in 2025, a decrease of 21%. In 2026, it fell another 11% to 105,000 RMB, with an average export price of 106,000 RMB in July, representing a 3% year-on-year decline. The price drop from April to July, following a reduction in export tax rebates, indicates a significant improvement compared to last year. Overall, despite a 20% year-on-year decline in domestic retail sales of new energy passenger vehicles in 2026, the export volume demonstrates excellent performance with price decreases domestically and increases externally, effectively addressing challenges arising from changes in the internal environment by relying on emerging market expansion and deepening core market engagement. 1. Lithium-Ion Battery Exports As a significant advantageous product in the new energy sector, lithium batteries have shown excellent export performance, yielding high profits and being favored in the market. Since President Biden took office in 2020, lithium battery exports have performed relatively well among Chinese exports. In 2021, the export value was only 28.4 billion US dollars, which rose to 50.9 billion US dollars in 2022 and reached a record high of 64.9 billion US dollars in 2023. However, in 2024, it dropped by 6%, and the export of lithium-ion batteries reached 76.8 billion US dollars in 2025. From January to July 2026, lithium battery exports reached 58 billion US dollars, an increase of 41%; in July, lithium battery exports maintained at 9.4 billion US dollars, with a year-on-year increase of 33%. 2. CECEP Solar Energy Battery Export Trends CECEP Solar Energy batteries, as another key product in the new energy sector, have shown significant fluctuations in exports, with a notable decline over the past two years and intense industry competition. CECEP Solar Energy batteries experienced explosive growth against the backdrop of the Russia-Ukraine crisis, with a relatively stable overall trend in 2020. The year 2021 saw a marked increase in CECEP Solar Energy battery exports, followed by a tremendous growth in 2022 when exports reached 92.8 billion US dollars. However, in 2023, as the overall energy situation stabilized, CECEP Solar Energy battery exports fell to 87.6 billion US dollars. This figure dropped to 61.2 billion US dollars in 2024 and further to 56.4 billion US dollars in 2025, a decrease of 8%. From January to July 2026, CECEP Solar Energy battery exports reached 37.2 billion US dollars, an increase of 20%; in July, exports fell to 4.3 billion US dollars, down 4% year-on-year. 3. Structural Characteristics of Lithium Battery Exports The European Union is the primary market for China's lithium battery exports, accounting for about 42% of market demand in 2026, an increase of 2 percentage points compared to 2025. Chinese exports of lithium batteries to the United States have drastically shrunk to 10%, a decrease of 6 percentage points compared to 2025. The decline in exports to the United States continues to be substantial. Chinese exports are mainly directed towards the European Union, Southeast Asia, Japan and South Korea, and the Middle East. In terms of the countries that imported Chinese lithium batteries in July 2026, the main markets were: Germany 1.30198 billion US dollars, the United States 772.8 million US dollars, the Netherlands 664.21 million US dollars, India 601.85 million US dollars, Vietnam 573.04 million US dollars, South Korea 435.09 million US dollars, Japan 407.55 million US dollars, Hungary 330.09 million US dollars, Australia 272.6 million US dollars, and the United Kingdom 226.29 million US dollars. The top five countries with the greatest increase in year-on-year exports were India 320.01 million US dollars, Japan 256.34 million US dollars, the Netherlands 243.11 million US dollars, Hungary 203.78 million US dollars, and Romania 194.6 million US dollars. From January to July 2026, the main markets for Chinas lithium battery exports were: Germany 8.31243 billion US dollars, the United States 5.26179 billion US dollars, the Netherlands 4.31901 billion US dollars, India 3.43734 billion US dollars, Vietnam 3.42796 billion US dollars, Japan 2.75195 billion US dollars, Australia 2.66046 billion US dollars, South Korea 2.50642 billion US dollars, Hungary 1.59558 billion US dollars, and the United Kingdom 1.26781 billion US dollars. The top five countries with the largest increase in exports this year compared to the same period last year were: the Netherlands 2.23779 billion US dollars, India 1.62908 billion US dollars, Japan 1.53915 billion US dollars, Australia 1.35489 billion US dollars, and Vietnam 1.16562 billion US dollars. 4. Analysis of Price Changes for Lithium Batteries In recent months, export prices for lithium-ion batteries have shown a slight month-on-month increase while continuing to decline year-on-year. In July 2026, lithium battery exports reached 600,000 tons, with an export value of 9.4 billion US dollars. The export price of lithium-ion batteries fell from 27,300 US dollars per ton in 2023, to 20,100 US dollars per ton in 2024, then to 15,700 US dollars per ton in 2025, and further down to 15,200 US dollars per ton in 2026, marking a decline of only 8%. This drop is significantly less than the 26% decrease in 2024 and the 22% decrease in 2025, indicating substantial improvement. However, in July, the average export price of lithium batteries was 15,500 US dollars per ton, which represents a year-on-year increase of 2%, indicating improvement in the per-ton export price. Looking at the decline rate in Renminbi terms, the drop this year is significant, as lithium battery export prices have continued to fall in recent years. Regardless of how lithium carbonate prices fluctuate, the export prices of lithium batteries continue to decline. The export price of lithium batteries fell from 142,900 RMB in 2024 by 26%, to 112,300 RMB in 2025, a decrease of 21%. In 2026, it further dropped by 11% to 105,000 RMB, with an average export price of 106,000 RMB in July, down 3% year-on-year. The reduction in export prices during the April to July period, following a reduction in tax rebates, demonstrates a clear improvement compared to the previous year. 5. Analysis of Lithium Battery Exports to the United States In 2026, exports of lithium-ion batteries from mainland China to the United States saw a significant decline overall, with the price per ton increasing to 14,600 US dollars in July, a 26% year-on-year increase, indicating considerable improvement compared to 10-11 months of 2025. The prices of lithium batteries exported to the United States have dropped rapidly, falling from 119,600 RMB in 2024 by 19% to 91,500 RMB in 2025, a decrease of 24%. In July 2026, the average export price of lithium batteries from China to the United States was 99,300 RMB per ton, up 20%. The rapid decline of Chinese exports to the U.S. is attributed to the appreciation of the Renminbi, which caused the Renminbi-denominated prices to drop significantly, although there was noticeable improvement in July. Focusing on lithium-ion batteries, the quantity continues to decline, reflecting the surge in electricity and energy storage brought about by AI in the United States, which has yet to show any correlation with Chinese lithium battery exports. 6. Analysis of Lithium Battery Exports to the European Union The European Union is the largest export market for Chinese lithium batteries, consistently accounting for around 42% of global export demand. In 2026, this share increased by 2 percentage points compared to 2025, solidifying its market position. In July 2026, China's exports to the EU amounted to 3.9 billion US dollars, representing 244,000 tons, becoming a key driver of export growth. Chinese exports of lithium batteries to the EU have been growing rapidly, rising from 22.2 billion US dollars in 2024 to 31 billion US dollars in 2025, an increase of 40%. In July 2026, the average export price of lithium batteries from China to the EU was 16,100 US dollars per ton, down 15%, with high growth in exports to the EU compensating for the decline in exports to the U.S. The prices of lithium batteries exported by China to the EU have dropped rapidly, falling from 153,400 RMB in 2024 by 25% down to 125,500 RMB in 2025, a decrease of 18%. In July 2026, the average export price of lithium batteries from China to the EU was 110,200 RMB per ton, down 18%, with high growth in exports to the EU offsetting the decline in lithium battery exports to the U.S.