The market capitalization of China’s top battery manufacturers has soared by $70 billion since the start of the Iran war, as investors predict the conflict will boost clean energy growth.
BYD, CATL, and Sungrow have all outperformed global oil majors since the conflict began, the Financial Times noted; batteries are vital to smooth out the flow of intermittent renewable energy.
Countries are expanding their investment in renewables to reduce exposure to future geopolitical energy shocks. The battery giants are also making rapid technological strides: BYD recently upgraded its fastest chargers to provide 600 miles (966 kilometers) of range in nine minutes, four times the speed of a typical US charger. Thousands are already installed in China and Europe.
