Goldman Sachs forecasts a 50% surge in CATL's share price over the next 12 months, driven by rising demand for energy independence and its battery energy storage system business. The investment bank set target prices for its Hong Kong and Shenzhen stocks, anticipating significant growth.
Honda has started producing batteries for energy storage systems, marking its entry into the booming energy market. This pivot follows the cancellation of its U.S. EV programs and a significant financial write-down, as the automaker seeks new avenues amidst soft EV demand.
Mikro MSC Berhad and Hong Kong Cospower Technology Co Ltd (HKCT) have signed a two-year agreement making HKCT Malaysia's exclusive strategic partner for utility-scale battery energy storage system (BESS) projects. The deal aims to address solar power storage challenges and aligns with global trends in battery manufacturing expansion and supply chain diversification.
LG Energy Solution's US unit secures a $1.6B deal to supply 1.5GW/6GWh battery cells for DTE Energy's Michigan storage projects, driving shares up 15.25%.
Sungrow Power Supply has refiled for a Hong Kong listing, reviving plans after its October application lapsed. The solar inverter and energy storage maker, which holds over 25% global market share, joins a wave of mainland companies submitting IPO documents to Hong Kong, signalling renewed activity in the city's IPO pipeline.
Ganfeng Lithium, the world’s largest producer of lithium metal, has issued a strong profit forecast for the first quarter of this year as soaring demand for electric vehicles (EVs) and energy storage system (ESS) batteries lifted earnings. The company, based in China’s central Jiangxi province, said in an exchange filing on Thursday that increasing orders had driven up prices of lithium – a key material for EV and ESS batteries – helping it post an estimated profit of 1.6 billion yuan (US$234...
