Cui Dongshu: January-July lithium battery exports reached US$58 billion, up 33% year-on-year in July
The Zhitong Finance App learned that Cui Dongshu, Secretary General of the Passenger Transport Association, published an article stating that in January-July 2026, lithium battery exports reached 58 billion US dollars, an increase of 41%; in July, lithium battery exports remained at 9.4 billion US dollars, an increase of 33% over the previous year. The export price of lithium-ion batteries has risen slightly month-on-month in recent months and continued to decline year-on-year. In July 2026, 600,000 tons of lithium batteries were exported, with an export value of 9.4 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 15,700 US dollars/ton in 2025, and fell by only 8% in 2026. The decline was significantly lower than the 26% drop in 2024 and 22% in 2025, which is a significant improvement. However, in July, the average export price of lithium batteries was 15,500 US dollars/ton, an increase of 2% over the previous year, and the unit price of exported tons improved.
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 2025, down 21%. In 2026, the 105,000 yuan fell 11%. Among them, the average price of batteries exported from China in July was 106,000 yuan, a year-on-year decrease of 3%. The price reduction after tax rebates were reduced in April-July was a significant improvement over last year.
Overall, in 2026, against the backdrop of a 20% year-on-year decline in domestic NEV retail sales volume, 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 28.4 billion US dollars in 2021, 50.9 billion US dollars in 2022, and reached a high level of 64.9 billion US dollars in 2023, but by 2024, they fell 6%, and lithium-ion battery exports 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 remained at 9.4 billion US dollars, an increase of 33% over the previous year.
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 July 2026, solar cell exports reached US$37.2 billion, an increase of 20%; in July, solar cell exports fell to US$4.3 billion, a year-on-year decrease of 4%.
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, in July 2026, China's main lithium battery export countries were: Germany US$131.98 million, the United States US$772.8 million, the Netherlands US$664.21 million, India US$601.85 million, Vietnam US$43.04 million, South Korea US$43.09 million, Japan US$407.55 million, Hungary US$33.09 million, Australia US$272.6 million, and the United Kingdom US$226.29 million. Among them, the top five countries with increases over the same period were: India US$32.01 million, Japan US$25.34 million, and the Netherlands US$243.11 million, Hungary US$203.78 million, Romania US$19.46 million.
From January to July 2026, China's leading lithium battery exports were: Germany, US$8312.43 million, the United States, US$5261.79 million, the Netherlands, US$4319.01 million, India, US$3427.96 million, Japan, US$2751.95 million, Australia, US$266.46 million, South Korea, US$159.58 million, and the United Kingdom, US$126.81 million. Among them, the top five that increased this year over the same period last year were: the Netherlands US$2237.79 million, India US$162.98 million, Japan US$1539.15 million, Australia US$135.89 million, Vietnam US$116.62 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 July 2026, 600,000 tons of lithium batteries were exported, with an export value of 9.4 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 15,700 US dollars/ton in 2025, and fell by only 8% in 2026. The decline was significantly lower than the 26% drop in 2024 and 22% in 2025, which is a significant improvement. However, in July, the average export price of lithium batteries was 15,500 US dollars/ton, an increase of 2% over the previous year, and the unit price of exported tons improved.
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 2025, down 21%, and fell 11% from 105,000 yuan in 2026. Among them, the average price of batteries exported from China in July was 106,000 yuan, down 3% year on year. The price reduction after tax rebates were reduced in April-July 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. In July, the unit price of a ton rose to 14,600 US dollars, an increase of 26% over the previous year, and the export unit price improved markedly from October-November 2025.
The price of lithium batteries exported by China to the US fell rapidly, from 119,600 yuan in 2024 to 91,500 yuan in 2025, down 24%. In July 2026, the average price of batteries exported by China to the US was 9.93 yuan/ton, up 20%. China's exports to the US fell faster. Due to the appreciation of the RMB, the RMB price also dropped significantly, but there was a marked improvement in July.
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 July 2026, China's exports to the EU reached 3.9 billion US dollars or 244,000 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 2025, an increase of 40%. In July 2026, the average price of batteries exported by China to the EU was 161,000 US dollars/ton, a decrease of 15%. 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 2025, falling 18%. In July 2026, 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.