2025年全球电池行业年度报告 (英文版)
“The battery is the technology of our time.ˮ- The Economist The Battery Report summarizes what we consider to be the most significant developments in the battery industry in 2025. A massivelycollaborative project by 120+ battery professionals from 90+ institutions, this annual report seeks to provide a comprehensive and accessibleoverview of the current state of battery industry, research, talent, and policy. We hope to catalyze in-depth conversations on the state ofbatteries and its trajectory into the future. We Consider The Following Key Dimensions In Our Report: Commercial milestones in battery development, manufacturing, & end-use verticalsINDUSTRYACADEMIAAcademic breakthroughs in fundamental battery science & applicationsTALENTSupply, demand, and insights on talent working in the fieldPOLICYGovernment targets, incentives, regulations, patent trends, and their implicationsCOMMUNITYGlobal and virtual conferences and networking eventsCHINAHistory, state-of-art, and state-of-play of the world's most integrated battery supply chainPREDICTIONSTrends we believe are likely to happen in the next 12 months THE BATTERY REPORT IS A PROGRAM BY SUPPORT THE BATTERY REPORT INDUSTRY Volta Foundation is the worldʼs largest network of battery professionals. As a global not-for-profit association, Volta Foundation produces publications,networking opportunities, and industry resources to foster collaboration, innovation and advocacy within the battery industry. Industry Executive Summary 2025 marked a year of resilience and recalibration in the global battery industry.Global xEV sales surged 22% to 21.6M units, with BEV demand up 28% while PHEV demandclimbed 12%. For the first time, xEVs account for 50% of new car sales in China. This milestone comes as China continues to lead the world in EV market penetration, while Europereturned to growth and the US EV market remained comparatively stagnant. Automakers are adapting their market-entry strategies: Chinese OEMs accelerated their push into Europe bytransitioning from exports to local manufacturing and by increasing emphasis on hybrids and PHEVs to navigate anti-subsidy tariffs and market access constraints. In parallel, the “BESSdecadeˮ continued apace: deployments surpassed 100 GW added in 2025, driven by dramatically falling costs 31% year-on-year decline), storage-friendly policies, and new markets,while BESS product performance (energy density, efficiency, warranties) continued to improve. New BESS installations reached 104 GW / 257 GWh in 2025, taking cumulative globalcapacity to 267 GW / 610 GWh; in other words, roughly 40% of todayʼs cumulative BESS capacity was installed in 2025 alone, underscoring BESSʼs significance as one of the mostpromising and fast-growing sectors in the battery industry landscape. Global battery prices at the pack level decreased 9% to a record low of $108/kWh, with China LFP pack costs around $84/kWh (down 13% year-on-year), while pack costs remainedmaterially higher in the US 44%) and Europe 56%) due to localization costs, manufacturing inefficiencies, and tariffs. The industry grappled with overcapacity, particularly in Chinawhere operating capacity reached 4x current market demand, eroding margins and catalyzing a wave of “involutionaryˮ consolidation, forcing manufacturers to prioritize cost-downexecution, vertical integration, and overseas market expansion into Southeast Asia and Europe to bypass trade barriers and to improve margins. The investment landscape in 2025 shifted decisively from venture capital to infrastructure. Climate-related investment funds raised $101 billion, up 40% year-on-year, driven largely byinfrastructure funds focused on scaling mature assets like BESS and data centers. Conversely, early-stage and growth equity VC funding tightened to $14 billion in 2025 50% vs 2023,contributing to high-profile insolvencies, most notably Northvoltʼs wind-down and Powinʼs Chapter 11 filing (both June 2025) sent shockwaves through the ex-China battery ecosystemand reinforced investor risk sensitivity. Public markets reflected this bifurcation, with established Asian battery giants gaining market value (eg. CATL reported net profit of $6.8 billionQ1Q3) while many Western startups and SPAC-era companies struggled to maintain valuations. Emerging technology trends in 2025 include an aggressive pivot toward LFP, which now accounts for nearly 50% of global EV battery sales and dominates the stationary storage market.Innovation accelerated in high-compaction-density LFP and ultra-fast charging cells. Sodium-ion had a breakout year in stationary storage with grid-scale deployments, while solid-statedevelopment transitioned from lab breakthroughs to industrial pilot lines, with OEMs targeting 20272030 for integration. Artificial Intelligence AI) solidified its role as a critical enabler,embedding itself into manufacturing quality control, materials discovery, and the management of booming power demands from AI
