US imports of lithium-ion batteries in July rose by 26pc to the highest since January, driven by rising demand for energy storage.
Imports of lithium-ion batteries totaled 127,435 metric tonnes (t) in July, up from 100,998t a year earlier, according to customs data.
Following a brief dip in May on US tariff decisions, battery imports have rebounded. Nearly 93pc of imports in July were used in energy storage systems, underscoring the sector's growing role in driving demand. In contrast, electric vehicles (EVs) accounted for only 7pc of imports.
EV battery imports were down by 61pc from a year earlier, highlighting a sharp slowdown in this segment. The decline reinforced expectations of weaker EV demand in the US on the expiration of tax credits on 30 September.
US automaker General Motors recorded its highest EV sales in August, but predicted a slowdown in the fourths quarter.
Battery energy storage systems continue to attract new deals, such as South Korean battery maker SK On's recent agreement to supply 7.2GWh of US-made lithium iron phosphate batteries to Flatiron Energy, signalling a potential shift from imports toward domestic supply.
