Next-Gen Batteries & Supply Risks

SK On & Factorial scale SSB (FEST, 375 Wh/kg); Stellantis targets 2028 rollout. CATL margins slip to 20.63%; record buyback signals confidence but supplier credit funds cash cycle – cash flow gap and second-sourcing risks emerge. ESS revenue surges 87.5%. PCB material shortage for BMS protection boards. Solid-state market forecast 62.5% CAGR to $3.4B by 2035. BYD files dual-electrolyte cathode patent for SSB.