行业层面,随着两轮车以旧换新、新国标等逐步落地,2025年两轮车行业预计有望重回双位数增长,铅酸电池也受益于电动两轮车整体复苏。未来看,铅酸渗透率回升。两轮车电池安全性第一位,铅酸为最优选,被替换可能性较弱。此外,新国标限重放宽电池带电量有望略提升,中长期出海业务也将贡献新增量空间。两轮领域重归铅酸,供给端高集中度2023年锂电在新增电动轻型车中的渗透率不足10%,铅酸电池将继续在电动轻型车的...
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