A reminder that BESS deployment lags sales. According with Rhomotion.
There's an inability to deliver for example the Q1 2024 88GWh sales in Q1 2025 with only 34 GWh deployed, a year later.
This presumably gives CATL, BYD, Tesla and LG the edge negotiating if it is, as it appears a BESS sellers' market. They can fill their books, arguably deliver late and cherry pick high margin opportunities in the meantime.
After being caught out with high Li prices in 2022 they would have clauses or mechanisms to cover themselves against high prices in contracts with clients and futures exchanges - surely? Passing any increase on to clients..
When will the levee break?
LTR Price at posting:
60.5¢ Sentiment: Buy Disclosure: Held
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