[Lithium Battery] View Update: Inverter Restrictions Actually Favor Cell Manufacturers, North American Industry Chain Profits Will Shift to Cell Segment

English summary

### [Lithium Battery] View Update: Inverter Restrictions Actually Favor Cell Manufacturers, North American Industry Chain Profits Will Shift to Cell Segment Time: 2026-07-29 23:42:03 Content: [Lithium Battery] View Update: Inverter restrictions are actually beneficial for cell manufacturers. The FCC's inverter ban has landed, and our view remains the same as before: it is positive for the cell segment. Chinese cell manufacturers will connect more with North American customers, and profit margins will have more room to improve compared with cooperating with Chinese integrators. The U.S. development of AI data centers, grid upgrades, and new energy storage allocation will not see demand for energy storage disappear due to changes in inverter supply. Policy restrictions focus on system control and data-related links such as P and EMS. Even if fully implemented, the U.S. energy storage industry chain will evolve into a model of "local system integration + Chinese cell supply," and Chinese cells cannot be replaced because cells themselves are passive devices that do not collect any data, and Chinese cells are irreplaceable. ...