In the first quarter, lithium battery exports reached 24 billion US dollars. Exports to the United States experienced a significant decline.

In 2026, lithium batteries, as a key export product in China's "New Three Goods" category, maintained a high growth rate before the reduction of export tax rebates.

Recently, data released by Cui Dongshu, the secretary-general of the Passenger Vehicle Market Information Joint Conference, showed that in the first three months of 2026, the export of lithium batteries reached 24 billion US dollars, an increase of 55%. In March, the export of lithium batteries soared to 9.7 billion US dollars, a year-on-year increase of 69%.

Lithium batteries, as an important advantageous product of the new era, have achieved excellent export performance with high profits and a favorable market. Since President Biden took office in 2020, it can be said that the export performance of lithium batteries in China's export commodities has been relatively outstanding. In 2021, the export volume was only 28.4 billion US dollars, in 2022 it was 50.9 billion US dollars, and in 2023 it reached an extremely high level of 64.9 billion US dollars. However, it declined by 6% in 2024. The export of lithium-ion batteries reached 76.8 billion US dollars in 2025.

The export of lithium batteries has achieved resilient growth through diversified market layouts. The main market for China's lithium battery exports is the European Union. The demand in the EU is expected to reach around 42.1% in 2026, an increase of 1.6 percentage points compared to 2025. China's exports of lithium batteries to the United States have sharply declined to 9.6%, a decrease of 6.5 percentage points in 2026 compared to 2025. This decline to 9.6% in the US market is equivalent to the total scale of exports from the third-largest market, Southeast Asia.

From the perspective of export structure, China's lithium battery exports mainly go to regions such as the European Union, Southeast Asia and Oceania, the Middle East, etc.

From the export trend of lithium batteries, in the first quarter of 2026, exports to the United States decreased by 29%, amounting to only 2.3 billion US dollars. Exports to Japan and South Korea increased by 59%, showing the same characteristics as automotive exports. China's lithium battery exports to the European Union reached 10.1 billion US dollars, increasing by 68%, which is relatively low.

In March, China's lithium battery exports to the Middle East increased by 333%, far exceeding expectations even under the tight transportation conditions during the war. This was in contrast to the sharp decline in vehicle exports. The exports to Russia and Central Asia also saw a significant increase of 319% in March.

From the perspective of price changes, the export prices of lithium-ion batteries have risen slightly month-on-month in recent months, while they have continued to decline year-on-year. In March 2026, the export volume of lithium-ion batteries was 680,000 tons, and the export value reached 9.7 billion US dollars. From 2.73 thousand US dollars per ton in 2023, 2.01 thousand US dollars per ton in 2024, to 1.57 thousand US dollars per ton in 2025, and then to 1.49 thousand US dollars per ton in 2026, the export price decreased by only 12% in 2026.

From the perspective of export unit prices, the decline this year has been significant. The export prices of lithium batteries in recent months have significantly improved compared to the fourth quarter of 2025. The unit price in January was $15,500, a year-on-year decrease of 9%; in February, it was $15,100, a year-on-year decrease of 12%; in March, it was $14,300, a year-on-year decrease of 15%. The decline rate is 22% lower than that of last year, and the improvement is obvious.

Facing the US market, in 2026, the total export amount of lithium-ion batteries from the Chinese mainland to the US experienced a significant decline. The per-ton price dropped to $12,400 in March, a decrease of 7% compared to the previous year. However, the export price was significantly improved compared to the period from October to November in 2025.

In terms of the EU market, the EU is China's largest export market for lithium batteries. The demand share has remained stable at around 42% of global exports. In 2026, this share will increase by 2 percentage points compared to 2025, and its market position will continue to be consolidated. In March 2026, China's exports to the EU reached 3.97 billion US dollars and 255,000 tons, becoming a key driving force for the growth of exports.

The export of lithium batteries from China to the EU has grown rapidly. It increased from 22.2 billion US dollars in 2024 to 31 billion US dollars in 2025, representing a 40% increase. In March 2026, the average price of batteries exported from China to the EU was 15,600 US dollars per ton, a decrease of 13%. The high growth in China's exports to the EU compensated for the decline in lithium battery exports to the United States.

Overall, in 2026, when the domestic retail volume of lithium batteries in China for new energy passenger vehicles decreased by 21% year-on-year, domestic prices rose while foreign prices dropped, resulting in an excellent export quantity performance characterized by lower prices and higher volumes. By leveraging emerging markets for expansion and focusing on core markets for deep penetration, China effectively addressed the challenges brought about by changes in the internal environment.