UPDATED WEEKLY
The Hysteresis
Where battery markets lag — and leadWe kept hitting one gap: what a battery facility is called versus what a buyer can actually contract from it. Ford's Kentucky plant has a certificate of occupancy, a $3.8 billion federal loan, sole Ford ownership on file with the SEC. No disclosed output. That distance between label and proof held across every section we filed. Chinese ESS cells repriced up while most models still assumed decline. Korean makers signed real supply agreements alongside losses they can't cover without subsidies. Defense compliance starts in eighteen months and no visible supplier has a complete proof file. This issue runs the audit.
ISSUE #5
The Hysteresis
We kept hitting one gap: what a battery facility is called versus what a buyer can actually contract from it. Ford's Kentucky plant has a certificate of occupancy, a $3.8 billion federal loan, sole Ford ownership on file with the SEC. No disclosed output. That distance between label and proof held across every section we filed. Chinese ESS cells repriced up while most models still assumed decline. Korean makers signed real supply agreements alongside losses they can't cover without subsidies. Defense compliance starts in eighteen months and no visible supplier has a complete proof file. This issue runs the audit.
ISSUE #5
Sunday, July 12
