Battery Makers Counteract EV Slowdown With Energy Storage Boom
As one part of the energy transition temporarily slows, another is speeding up.
Products displayed at the Zhejiang Narada Power Source booth at the International Photovoltaic Power Generation and Smart Energy Expo in June.
Photographer: Qilai Shen/BloombergThanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world.
Battery manufacturers are having hard times this year. LG Energy Solutions and Samsung SDI recently posted falling quarterly revenues and profits, while Panasonic’s battery division missed its targets. Even the world’s largest battery maker, CATL, reported its first drop in quarterly profit earlier this year.