Chinese language EV battery big CATL posts 33% surge in Q1 revenue
by AFP Employees Writers
Beijing (AFP) April 15, 2025
The world’s main maker of electrical car batteries, Chinese language agency CATL, posted a 32.9 % soar in first quarter revenue, at the same time as demand for electrical autos slows.
The agency produces greater than a 3rd of all electrical car (EV) batteries bought worldwide, cooperating with main manufacturers together with Tesla, Mercedes-Benz, BMW and Volkswagen.
Based in 2011 within the japanese Chinese language metropolis of Ningde, Modern Amperex Know-how Co., Restricted (CATL) was initially propelled to success by speedy progress within the home market.
Web revenue within the first quarter was up 32.9 % year-on-year to 13.96 billion yuan ($1.91 billion), in accordance with an announcement CATL launched on the Shenzhen Inventory Trade Monday.
Throughout the identical interval, CATL’s gross sales rose by 6.2 % year-on-year to 84.7 billion yuan, the submitting confirmed.
CATL has been aided by robust monetary help from Beijing, which has sought lately to shore up home power in sure strategic high-tech sectors.
However following years of speedy progress, the world’s largest EV market is displaying indicators of flagging gross sales within the face of a broader slowdown in consumption.
CATL warned in January that its slide in gross sales final yr was seemingly attributable to a “decline within the costs of uncooked supplies akin to lithium carbonate”, which had pressured the agency to regulate costs.
Final yr noticed lithium costs fall considerably, partly attributable to market oversupply and weaker shopper demand for EVs.
The traits have fuelled a fierce value struggle within the nation’s expansive EV sector, placing smaller corporations underneath enormous stress to compete whereas remaining financially viable.
CATL is constructing its second manufacturing unit in Hungary after launching its first in Germany in January 2023.
isk/oho/mtp
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