South Korea’s Samsung SDI has signed its first US lithium iron phosphate (LFP) cell deal, while Chinese integrator Trina Storage has expanded an existing supply partnership.
Cell manufacturing overcapacity and intense competition contributed to an 8% decline in the average cost of lithium-ion battery packs, according to BloombergNEF.
With Document No. 136 scrapping the mandatory energy storage allocation requirement for renewable energy and the rollout of policies governing new energy storage, China’s energy storage market is going through a period of dynamic change.
The US market is expected to be the largest source of revenue and driver of activity for Fluence in 2026, and a second battery cell deal with a domestic supplier is imminent.