China's EV Battery Installations May Remain Strong in 2024 -- Market Talk

Dow Jones06-18

0315 GMT - China's electric-vehicle battery installation growth is likely to remain strong this year, thanks to robust outlook for new energy vehicles sales, Daiwa analyst Kelvin Lau writes in a note. China's EV battery installations rose 41% on year in May and the sales volume of new energy vehicles increased 33.5%. Lau reckons that increasing model pipeline and availability of charging infrastructure in China will further support NEV sales this year. Daiwa remains positive on the EV and battery sector and maintains a buy call on BYD due to its battery business expansion plans. BYD's battery installations in May rose 32% on the year.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

June 17, 2024 23:15 ET (03:15 GMT)

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Daiwa remains positive on the EV and battery sector and maintains a buy call on BYD due to its battery business expansion plans. 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China's EV battery installations rose 41% on year in May and the sales volume of new energy vehicles increased 33.5%. Lau reckons that increasing model pipeline and availability of charging infrastructure in China will further support NEV sales this year. Daiwa remains positive on the EV and battery sector and maintains a buy call on BYD due to its battery business expansion plans. 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