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2026-11-09 16:10:26 CLSA published a research report stating that battery demand is expected to continue being supported by higher battery capacity per vehicle, rising penetration of battery electric vehicles, and broader energy storage construction. Meanwhile, more disciplined supply-side capacity expansion is also expected to support industry pricing next year. The broker currently forecasts global lithium battery demand to reach about 3,960GWh in 2027, up about 25% YoY. The broker noted that according to data from the China Association of Automobile Manufacturers, wholesale sales of new energy vehicles in China reached 12.47 million units in the first nine months of this year, up 11.4% YoY. As of September, battery capacity per vehicle for battery electric passenger vehicles and hybrid passenger vehicles in China reached 43kWh and 63.8kWh respectively, up 46.3% and 13.5% YoY respectively. In Europe, the broker expects new energy vehicle sales growth to remain above 35% and above 25% in 2026 and 2027 respectively. In energy storage, the broker expects newly installed capacity in China to rise 30% to 40% YoY in 2027, while AIDC-related energy storage demand is also expected to continue expanding alongside computing infrastructure construction. The broker believes industry supply-demand dynamics will further improve in 2027, with prices across the industry chain stabilizing and recovering. Premium products are expected to secure higher technology premiums, while accelerating commercialization of solid-state batteries is also expected to create investment opportunities across batteries, materials and equipment segments. The broker recommended focusing on leading supply chain companies with stronger technological differentiation and cost control capabilities. It is optimistic on the progress of BYD COMPANY (01211.HK) in mass delivery of flash charging technology, CATL (03750.HK)'s third-generation Shenxing battery, and GEELY AUTO (00175.HK)'s intelligent charging developments, which are expected to help narrow the user experience gap between battery electric vehicles and fuel vehicles, thereby driving further growth in battery electric vehicle penetration.(gc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |