2025-06-09-Bernstein-6月9日电池周报_16页_227kb

Global Energy Storage Battery Weekly Summary (09 June 2025)

Key Developments

• Asia: Recent political changes in South Korea are expected to revise tax laws favoring battery companies, similar to the Inflation Reduction Act (IRA), which aims to attract foreign investments and boost domestic production from firms like LG Energy Solution, Samsung SDI, and SK On. Korean manufacturers are lobbying for tax credit reforms, including direct cash reimbursements. Meanwhile, CATL published research on lithium metal batteries in Nature Nanotechnology, achieving a 500 Wh/kg energy density and 483 cycles. China expanded its rural electric vehicle promotion campaign to include 124 models, adding Tesla's Model 3 and Model Y, and companies like Lopal secured large battery material orders, such as Eve Energy's deal for 152,000 tons of lithium iron phosphate cathodes. Tesla's Chinese EV sales declined 15% year-on-year, amid broader market pressures, while Zhongke Electric announced a new $1.1 billion lithium anode material factory in Oman, alongside a postponed Moroccan project.

• Americas: LG Energy Solution started producing energy storage system (ESS) batteries in Michigan, shifting from its EV-focused plant due to EV sales slowdown. LG is also set to produce ESS batteries at its Lansing facility, acquired from General Motors, potentially using joint ventures for capacity. AESC paused construction on its South Carolina battery factory due to U.S. economic policy uncertainties. SK is selling its silicon anode factory to Group14, citing high debt. Lucid Group secured a deal for domestic graphite supplies to mitigate tariff risks. In Europe, UK EV registrations surged 25.8%, but fell short of government targets, and BYD announced plans for a megawatt charging network across Europe.

• Market Insights: Battery commodity prices show volatility, with lithium carbonate and hydroxide declining. Stocks of major players like CATL and LG Energy Solution exhibit varied performances, driven by renewable energy and data center demands for energy storage. The market faces risks from trade policies and economic shifts, with opportunities in green technologies.

Overall Market Trend

Despite structural growth in EVs and energy storage, supply chains are navigating geopolitical decoupling and policy changes, intensifying competition and investment in emerging markets like Oman and Australia.