Zhi Tong Cai Jing·2025-11-05 08:39Core Viewpoint - Citic Lyon's report indicates that the second supply order from Tesla for energy storage systems (ESS) to a South Korean battery manufacturer may seem unfavorable for CATL, but the strong growth of the global energy storage market necessitates the participation of multiple suppliers to meet demand [1] Group 1: Market Dynamics - The global energy storage market is experiencing robust growth, and relying solely on CATL will not suffice to meet market demands [1] - The report suggests that improvements in U.S. tariffs or policy could significantly boost CATL's market confidence and opportunities in the U.S. [1] Group 2: CATL's Market Position - Despite the perceived negative impact from Tesla's orders, CATL's remaining energy storage supply is projected to grow at a compound annual growth rate (CAGR) of 14% from 2026 to 2030, even with contracts from Samsung and LG Energy Solution included [1] - By 2030, CATL's market share could reach 85%, highlighting its significant role in the energy storage sector [1] Group 3: Short-term Impact - Current market expectations for CATL's opportunities in the U.S. are nearly zero due to tariff uncertainties, indicating that the short-term impact on CATL will be very limited [1]