European Energy Storage Market Faces Cooling Demand and Industry Overcapacity in 2023

On April 1, Galan Lithium announced that Phase 1 construction of its Hombre Muerto West (HMW) Project has been successfully completed. The project has now fully transitioned to the commissioning and operational readiness phase, with all major process facilities, including the nanofiltration plant, installed and electrical and mechanical testing underway. Supported by substantial brine inventory, first lithium chloride production is expected in 2026. As of April 2026, the project has 10,000 tonnes LCE of brine inventory available for processing. Initial production capacity is 4,000 tonnes LCE per annum, with plans to expand to 5,200 tonnes LCE in the near term.

On March 28, BYD released its 2025 annual report. According to the report, the company achieved operating revenue of 803.965 billion yuan in 2025, a year-on-year increase of 3.46%; and net profit attributable to shareholders of the listed company of 32.619 billion yuan, a year-on-year decrease of 18.97%. As of the end of the year, its total assets reached 883.730 billion yuan, an increase of 12.81% year-on-year; net assets attributable to shareholders of the listed company stood at 246.274 billion yuan, up 32.94% from the end of the previous year, with its overall asset strength steadily consolidated. In terms of energy storage business, its global energy storage system shipments exceeded 60GWh in 2025, ranking first among global energy storage system manufacturers.

On March 30, Jiangsu Ninghu Expressway Co., Ltd. released its 2026 financial report. According to the data, the company achieved operating revenue of approximately 20.289 billion yuan in 2025, a year-on-year decrease of 12.54%; net profit attributable to shareholders of the listed company was approximately 4.594 billion yuan, a year-on-year decrease of 7.13%; net profit after deducting non-recurring gains and losses was approximately 4.468 billion yuan, a year-on-year decrease of 8.45%. In terms of energy storage projects, a heavy-duty truck battery swap project was put into operation at the Xianrenshan service area, with one battery swap station deployed on each side, each station having an energy storage capacity of not less than 1.2 MWh.