Foreign-invested enterprises propel Shanghai's lithium battery exports

Foreign-invested enterprises have played a pivotal role in propelling the surge of lithium-ion battery exports from Shanghai in the first quarter of this year, according to data from Shanghai Customs.

From January to March, foreign-invested enterprises in Shanghai exported a total of 10.68 billion yuan (US$1.5 billion) worth of lithium-ion batteries, up 30.8 percent year on year.

This substantial export volume accounted for 90.3 percent of the city's total lithium battery exports.

Shanghai exported 22.58 million lithium-ion batteries in the first quarter, marking a notable increase of 116.5 percent compared to the same period last year.