JPMorgan Global EV and Battery Update (July 2026): EVs and PHEVs Strong in the EU, Moderate in China and Weak in the US; ESS Momentum Continues
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JPMorgan's July 2026 global EV and battery update reports strong EV and plug-in-hybrid performance in the EU, moderate momentum in China, weakness in the US, and continuing energy-storage-system momentum. The published summary consists of eight exhibits. Chart 1 compares global EV battery installation volumes by manufacturer with Korean cell makers' market share; Chart 2 tracks EV sales and penetration across the EU-10, the US, and China; Chart 3 shows EV and PHEV penetration trends across five EU markets; and Chart 4 covers US EV inventory trends. Chart 5 contrasts Hyundai/Kia share performance against US automakers, while Chart 6 sizes the Korean EV battery and materials universe by market capitalization. Charts 7 and 8 turn to valuation, plotting battery-ecosystem names on expected FY2026 P/E multiples versus operating margins and on FY2027E EV/EBITDA multiples, respectively. No accompanying narrative text, ratings, or estimate changes were included in the available source material.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Exhibit 6
Exhibit 7
Exhibit 8
