China Resources invests in energy storage lithium batteries

What percentage of China's energy storage capacity is lithium-ion?

According to the NEA, lithium-ion battery energy storage accounted for 97 per cent of China’s operational energy storage capacity by the end of 2023, with other emerging technologies accounting for the rest.

What type of energy storage system did China use in 2023?

As expected, lithium-ion batteries were the most common type of energy storage systems, accounting for 95% of the capacities brought into operation in China in 2023. The fact that their share was so high can be attributed to, among other things, the availability of a domestic raw material base.

Which energy storage systems are being commercialised in China?

In addition to lithium-ion batteries, China is commercialising other types of energy storage systems. This includes the compressed air energy storage (CAES) technology, which consists of two stages.

How has China's energy storage sector benefited from new technologies?

China’s energy storage sector nearly quadrupled its capacity from new technologies such as lithium-ion batteries over the past year, after attracting more than 100 billion yuan (US$13.9 billion) in direct investment over the past couple of years.

Is China a good place to invest in EV batteries?

NORTHAM: China is not geologically blessed with every material you could want for the energy transition. But Andrew Miller with Benchmark Mineral Intelligence, an analysis group, says China was just much faster than other countries at recognizing the shift to EV batteries and developed a long-term strategy.

Why are Chinese companies rushing into China's energy storage sector?

Simply sign up to the Chinese business & finance myFT Digest -- delivered directly to your inbox. Chinese companies from foodmakers to tech start-ups are rushing into the country’s energy storage sector, spurred by massive state spending on President Xi Jinping’s plan to achieve energy independence.