Lates News

Bank of America Securities released a research report stating that the World Energy Storage Conference held last week in Ningde City, Fujian Province, had participation from many Chinese electric vehicle companies and battery companies, leading to a more positive outlook on the energy storage industry. The bank expects that the demand for energy storage batteries from 2025 to 2030 will remain strong, driven by domestic policy support and overseas market growth. Industry experts predict that by 2030, China's cumulative installed capacity of battery energy storage will reach 240GW. Additionally, the demand for energy storage in Europe and emerging markets is expected to remain strong in the next two to three years. It is anticipated that global energy storage demand will reach approximately 500GWh in 2025, and grow by around 30% and 25% in 2026 and 2027, respectively. In the context of anti-overwork, Bank of America Securities expects the prices of electric vehicle batteries in mainland China to stabilize. Based on market demand and policy support, the bank has raised its sales and profit forecasts for Contemporary Amperex Technology Co. Limited (CATL) for the years 2025 to 2027 by 3%, 4%, and 3%, and has increased its battery shipment forecasts by 3%, 3%, and 2%. The target price has been raised from HK$475 to HK$570 with a "Buy" rating. The bank has also raised its target price for BYD Company Limited from HK$24 to HK$35 with a "Buy" rating.