Cui Dongshu: In January-June, lithium battery exports reached US$48.7 billion, a sharp increase of 43%

The Zhitong Finance App learned that Cui Dongshu, Secretary General of the Passenger Association, published an article stating that from January to June 2026, lithium battery exports reached 48.7 billion US dollars, an increase of 43%. In June, lithium battery exports remained at US$8.7 billion, up 32% year on year. The export price of lithium-ion batteries fell from 273,000 US dollars/ton in 2023 and 201,000 US dollars/ton in 2024 to 151,000 US dollars/ton in 2026. It fell only 8% in '26, a marked improvement over the 26% drop in '24 and the 22% drop in '25. However, the average export price of lithium batteries in June was 154,000 US dollars/ton, an increase of 1% over the previous year, and the unit price of exported tons is still at a historic low.

The main market for China's lithium battery exports is the European Union. In 2026, the EU's market demand will reach about 42%, an increase of 2 percentage points in 2026 compared to 2025. China's lithium battery exports to the US have shrunk sharply to 10%, down 6 percentage points in 2026 from 2025. The decline against the US continues to be huge.

Judging from the unit price of RMB caliber exports, the decline has been significant this year. The export price of lithium batteries has continued to drop in recent years. No matter how the price of lithium carbonate changes, the export price of lithium batteries continues to drop. The export price of lithium batteries fell 26% from 142,900 yuan in 2024 to 112,300 yuan in 25, a decrease of 21%. In '26, 104,800 yuan fell 12%. Among them, the average price of batteries exported from China in June was 104,900 yuan, down 4% year on year. The price reduction after tax rebates were reduced in April-6 was a significant improvement over last year. The price of lithium batteries exported by China to the European Union fell rapidly, falling 25% from 153,400 yuan in 2024 to 125,500 yuan in 25, a decrease of 18%. In June '26, the average price of batteries exported by China to the EU was 11.02 yuan/ton, a decrease of 18%.

Overall, in 2026, against the backdrop of a year-on-year decline in domestic NEV retail sales volume of nearly 20%, China's lithium batteries performed well in domestic price increases and foreign prices reduced, and export volumes increased in price declines. Relying on the expansion of emerging markets and deep cultivation in core markets, they effectively addressed the challenges brought about by changes in the internal environment.

1. Lithium-ion battery outlet

As the new three major advantage products, lithium batteries have excellent export performance, high profits, and a good market. Since Biden came to power in 2020, it should be said that the export performance of lithium batteries has been relatively excellent among China's exports. Exports were only US$28.4 billion in 2021, US$50.9 billion in 2022, and reached a high level of US$64.9 billion in 2023, but fell 6% by 2024. Lithium-ion battery exports in 2025 reached $76.8 billion.

From January to June 2026, lithium battery exports reached US$48.7 billion, an increase of 43%. In June, lithium battery exports rose to US$8.7 billion, a year-on-year increase of 32%.

2. Solar cell export trend

As the new three major advantage products, the export performance of solar cells has fluctuated greatly. The decline has been severe in the past two years, and the internal situation in the industry is serious. It should be said that in the context of the outbreak of the Russian-Ukrainian crisis, there was an explosive growth trend. The overall trend in 2020 was relatively stable, while solar cells showed a clear upward trend in 2021. Then, in 2022, solar cells showed a strong explosive growth trend, reaching 92.8 billion US dollars. However, with the relative stability of the overall energy situation in 2023, exports of solar cells fell back to 87.6 billion US dollars. It fell to US$61.2 billion in 2024 and US$56.4 billion in 2025, a decrease of 8%.

From January to June 2026, solar cell exports reached US$32.9 billion, an increase of 24%. In June, solar cell exports surged to 5 billion US dollars, an increase of 13% over the previous year.

3. Structural characteristics of lithium battery exports

The main market for China's lithium battery exports is the European Union. In 2026, the EU's market demand will reach about 42%, an increase of 2 percentage points in 2026 compared to 2025.

China's lithium battery exports to the US have shrunk sharply to 10%, down 6 percentage points in 2026 from 2025. The decline against the US continues to be huge.

The structure of China's exports mainly goes to the European Union, Southeast Asia, Japan, South Korea, and the Middle East.

Looking at the export trend of lithium batteries, China's main lithium battery export countries in June '26 were: Germany at US$119.45 million, the US at US$880.36 million, the Netherlands at US$74.67 million, Vietnam at US$54.67 million, India at US$535.23 million, Japan at US$418.79 million, South Korea at US$395.15 million, Hungary at US$233.13 million, and Chile at US$207.44 million. Among them, the top five countries with increases over the same period were: the Netherlands at US$392.84 million, India at US$27.4.72 million, and Australia US$232.33 million, Vietnam US$23.7 million, Japan US$23.31 million,

From January to June '26, China's leading lithium battery exports were: Germany US$7010.45 million, the US US$4488.99 million, the Netherlands US$365.48 million, Vietnam US$2854.92 million, India US$2835.5 million, Australia US$2387.86 million, Japan US$2344.4 million, South Korea US$2071.33 million, Hungary US$126.49 million, and the United Kingdom US$104.1.52 million. Among them, the top five that increased this year over the same period last year were: the Netherlands 1994.68 million US dollars, Australia 1418.87 million US dollars, India US$1309.06 million, Japan US$128.82 million, Vietnam US$1016.05 million.

4. Analysis of changes in the price of lithium batteries

The export price of lithium-ion batteries has risen slightly month-on-month in recent months and continued to decline year-on-year. In June 2026, 570,000 tons of lithium batteries were exported, with an export value of 8.7 billion US dollars. The export price of lithium-ion batteries fell from 273,000 US dollars/ton in 2023 and 201,000 US dollars/ton in 2024 to 151,000 US dollars/ton in 2026. It fell only 8% in '26, a marked improvement over the 26% drop in '24 and the 22% drop in '25. However, the average export price of lithium batteries in June was 154,000 US dollars/ton, an increase of 1% over the previous year, and the unit price of exported tons is still at a historic low.

Judging from the unit price of RMB caliber exports, the decline has been significant this year. The export price of lithium batteries has continued to drop in recent years. No matter how the price of lithium carbonate changes, the export price of lithium batteries continues to drop. The export price of lithium batteries fell 26% from 142,900 yuan in 2024 to 112,300 yuan in 25, a decrease of 21%. In '26, 104,800 yuan fell 12%. Among them, the average price of batteries exported from China in June was 104,900 yuan, down 4% year on year. The price reduction after tax rebates were reduced in April-6 was a significant improvement over last year.

5. Analysis of lithium batteries exported to the United States

In 2026, the overall export value of lithium-ion batteries from mainland China to the US fell sharply. The unit price per ton fell to 13,200 US dollars in June, an increase of 4% over the previous year, and the export unit price improved markedly from October-November '25.

The price of lithium batteries exported by China to the US fell rapidly, falling 19% from 119,600 yuan in 2024 to 91,500 yuan in 25, a decrease of 24%. In June '26, the average price of batteries exported by China to the US was 9.02 yuan/ton, a decrease of 1%. China's exports to the US fell rapidly. Due to the appreciation of the RMB, the RMB price also dropped significantly.

We mainly look at lithium-ion batteries. The number continues to decline, reflecting the sharp increase in electricity and energy storage brought about by AI in the US. Currently, it is not related to lithium batteries exported from China.

6. Analysis of lithium batteries exported to the EU

The EU is China's largest export market for lithium batteries. Demand accounts for about 42% of global exports. 2026 accounts for an increase of 2 percentage points compared to 2025, and the market position continues to strengthen. In June 2026, China's exports to the EU reached US$3.35 billion, or 208,000 tons, becoming a key driving force for export growth.

China's exports of lithium batteries to the EU are growing rapidly, from US$22.2 billion in 2024 to US$31 billion in 25, an increase of 40%. In June '26, the average price of batteries exported by China to the EU was 161,000 US dollars/ton, a decrease of 14%. The high growth in China's exports to the EU made up for the decline in lithium battery exports to the US.

The price of lithium batteries exported by China to the European Union fell rapidly, falling 25% from 153,400 yuan in 2024 to 125,500 yuan in 25, a decrease of 18%. In June '26, the average price of batteries exported by China to the EU was 11.02 yuan/ton, a decrease of 18%. The high growth in China's exports to the EU made up for the decline in lithium battery exports to the US.