Tesla IncTSLA
▲ PositiveDemandrelevance
Tesla salvage listings surged sevenfold and command triple the median price, driven by global demand for battery modules and electric drive units.
Impact on assets 5
Electrification & Mobility
Tesla Inc
Lucid Group IncLCID
▼ NegativeDemandrelevance
Lucid is virtually absent from salvage auctions, indicating low demand for its battery modules and drive units compared to Tesla.
Rivian Automotive IncRIVN
▼ NegativeDemandrelevance
Rivian is virtually absent from salvage auctions, indicating low demand for its battery modules and drive units compared to Tesla.
Polestar Automotive Holding UK PLC Class A ADSPSNY
Mentioned
Industrials
Copart IncCPRT
Mentioned
Theme Impact 3
Off-coverage companies
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United States
South Korea▲3
Amprius Technologies Lands US$75 Million US Defense Battery Deal
Amprius Technologies announced in late September 2026 that it entered into a US$75 million fixed-price Other Transaction Agreement with the U.S. Government for Project acCELLerate, alongside a separate U.S. Department of War IBAS grant, to build secure domestic high-energy density battery production for small unmanned aerial systems. The awards position Amprius to retrofit an existing South Korea-linked EV battery line into a U.S.-compliant facility capable of producing 12 million silicon-anode cells annually for NDAA-compliant defense customers. The company had already lifted its August 2026 guidance to at least US$140 million in full-year revenue with a narrower net loss. Amprius' narrative projects US$415.0 million in revenue and US$53.6 million in earnings by 2029, yielding a US$22.12 fair value, while the most cautious analysts assume about US$362 million of revenue and roughly US$40 million of earnings by 2029. The growing dependence on government-backed drone programs also concentrates risk should procurement cycles shift.
About megatrends
Electrification & Mobility › Next-gen Cells (Solid-state / Silicon-anode) ▲Demand
Electrification & Mobility › Battery Cells & Pack Manufacturing ▲Demand
Electrification & Mobility › Battery Components & Materials ▲Demand
AMPX · Demand · Positive Amprius landed a US$75M U.S. Government Other Transaction Agreement plus an IBAS grant to build domestic high-energy-density battery production for small unmanned aerial systems.
AMPX · Capital · Positive The company had already lifted its August 2026 guidance to at least US$140 million in full-year revenue with a narrower net loss.
China▲
Goldman Sachs Names CATL and Zenergy Top China Battery Picks
Goldman Sachs has identified Contemporary Amperex Technology Co and Jiangsu Zenergy Battery Technologies Group as its top picks in China's battery sector. CATL, the world's largest battery manufacturer, ranks first on leading scale, battery technology and cost competitiveness, with Goldman Sachs setting a 12-month price target of HK$947 for its H-shares and RMB565 for its A-shares under a sum-of-the-parts valuation. The bank points to CATL's shift from cells to integrated energy solutions as a key value driver, supporting share consolidation, higher project value capture, recurring service revenue and stronger margins. Zenergy takes second place as an underappreciated high-growth EV battery platform founded in 2019, benefiting from auto-component expertise inherited from Fuyao Glass and described by Goldman Sachs as the fastest EBITDA growth in its coverage universe. The bank maintains a Buy rating on Zenergy with a price target of HK$9, noting it trades at a significant discount to peers. Risks cited for both names include slower-than-expected EV and energy storage demand, rising raw material costs and intensifying competition.
About megatrends
Electrification & Mobility › Battery Cells & Pack Manufacturing ▲Capital
Electrification & Mobility › Incumbent Li-ion Cell Makers ▲Capital
United StatesToyota Opens 30,000-Square-Foot Battery Center of North America in Saline, Michigan
Toyota opened the Toyota Battery Center of North America in Saline, Michigan, a 30,000-square-foot facility that gives its Michigan-based battery teams expanded capabilities across the full battery-development cycle, from sourcing raw materials to customer applications to recycling. The center serves as a central hub for development and evaluation in partnership with Toyota's North American manufacturing network, supporting evaluation of batteries for Toyota Battery Manufacturing, North Carolina, as well as Toyota's vehicle manufacturing plants across North America. Keita Moritsu, Senior Vice President and Chief Technology Officer of Toyota Motor North America R&D, said the center is where Toyota's battery leadership expands to North America. On site, engineers and technicians assess battery performance and develop technologies for hybrid, plug-in hybrid, hydrogen, and fully electric vehicles, supporting Toyota's multi-pathway strategy. Toyota will open the facility and research access with the University of Michigan Electric Vehicle Center, and the company noted the opening marks the latest milestone in its more than 50-year history with Michigan. Michigan Governor Gretchen Whitmer called the investment a big win for the state's leadership in advanced automotive manufacturing.
About megatrends
Electrification & Mobility › Western / Legacy & Pure-play OEMs ▲Technology
Electrification & Mobility › Battery Cells & Pack Manufacturing Technology
7203.JP · Technology · Positive Toyota opened a 30,000-sq-ft battery R&D center in Michigan to develop and evaluate batteries for hybrid, plug-in hybrid, hydrogen, and EV models.