CITIC Construction Investment | Vehicle storage resonance, raising the 2026 global lithium battery demand to 3163 GWh, the fundamental turning point has arrived

CITIC Construction Investment Securities research report indicates that global lithium battery demand is expected to be adjusted to 3163 GWh in 2026, an increase of 38.3% year-on-year. The main reasons include China's electric vehicle exports exceeding expectations, a surge in sales of new energy vehicles in Europe, and the economic viability of electric heavy trucks becoming apparent. It is expected that the upstream and downstream of lithium batteries will enter a prosperous cycle in the second quarter, with a particular focus on lithium carbonate and the energy storage market. China's new energy vehicle exports reached 904,000 units from January to March, a year-on-year increase of 126%. Sales of electric vehicles in Europe have also significantly increased, with an expected sales volume of 5.42 million units in 2026