Fitch Ratings predicts that Chinese battery cell manufacturers will benefit from the escalating energy storage demand driven by high oil prices and expanding AI data centers. The report notes that while competition exists in the market, global demand for energy storage units is projected to increase.

Chinese battery cell manufacturers are poised to benefit from the US-Israeli war in Iran, according to Fitch Ratings, even as fierce competition, overcapacity and thin margins weigh on some downstream firms. Global demand for energy storage was set to rise, driven by high oil prices and rapidly expanding artificial intelligence (AI) data centres, said Wang Ying, a managing director at the credit rating agency. “We believe that China’s leading energy storage cell manufacturers will be the bigger....