新能源汽车产业链行业行业周报：特斯拉上海储能工厂将投产，亿纬锂能签储能大单

Investment Rating - The report maintains a "Positive" outlook for the new energy vehicle industry [5] Core Insights - The terminal sales performance is strong, with a projected increase in demand. In 2024, China's new energy vehicle sales are expected to reach 12.865 million units, a year-on-year increase of 35%, while the installed capacity of power batteries is projected to be 548.4 GWh, up 41% year-on-year. The demand for lithium batteries is anticipated to maintain strong growth momentum through 2025 [11][12] - The overall profitability trend is stabilizing and slightly improving. Both upstream lithium resources and downstream batteries have shown significant recovery. However, the midstream materials, including ternary and lithium iron phosphate cathodes, are still affected by the impairment of lithium carbonate [11][12] - The upward trend in profitability remains unchanged, with many companies in the industry expected to have a PE valuation below 20 times for 2025, indicating investment value [12] Summary by Sections Weekly Insights - Terminal sales performance is strong, with a year-on-year increase in new energy vehicle sales and power battery installation [11] - The profitability trend is stabilizing, with upstream and downstream sectors recovering, while midstream materials face challenges [11][12] Industry News - Tesla's Shanghai energy storage factory is set to commence production, with a planned annual output of 10,000 Megapack units, contributing to global supply [14] - SK On has completed a merger to enhance its raw material procurement capabilities and financial stability [15] Important Announcements - EVE Energy (300014.SZ) has signed a strategic procurement agreement for energy storage cells, indicating recognition of its product performance and supply capabilities [21][22] Price Tracking of Battery-Related Products - Lithium carbonate price is at 77,000 CNY/ton, down 0.77% from the previous week, and down 20.23% since the beginning of 2025 [28]