A Soochow Securities power-equipment and new-energy report on November 5 says domestic NEV sales reached 12.472 million units in the first nine months, up 11.1% year on year, with exports at 4.004 million units, up 132%. Average battery capacity per vehicle rose 28%, underpinning real power-battery demand. Global energy-storage battery shipments reached 837 GWh, up 105%.
The brokerage estimates combined global power and storage battery demand at 2,826 GWh in 2026, up 37%. It notes lithium-carbonate prices have stabilized and rebounded, with material margins clearly recovering, and that leading battery makers trade at 10-12 times 2027 earnings, a historic valuation low. Driven by export growth, rising capacity per vehicle and storage expansion, the sector is shifting from volume growth to simultaneous volume-and-profit gains.
Source: Tencent News / Soochow Securities
