On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added.
It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity.
LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added.
But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price."
Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.
Persons:
Bernstein, Freyr, — CNBC's Michael Bloom
Organizations:
U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems
Locations:
U.S, North America, decouple, China, South Korea, Europe