Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Suppliers Email this story   Print this story
 
Battery maker CATL's profit soars behind EV boom
Automotive News China | 2019/4/30

Contemporary Amperex Technology¡¯s net profit surged 153 percent to nearly 1.05 billion yuan ($156 million) in the first quarter, bolstered by soaring demand for electric vehicles across China.

The country¡¯s largest battery supplier for EVs said revenue jumped 169 percent to approach 10 billion yuan. 

CATL attributed the explosive growth in profit and revenue to robust domestic EV demand and increasing utilization in battery production capacity.

In the first quarter, some 226,000 EVs were sold in China, a rise of 121 percent from a year earlier, according to the China Association of Automobile Manufacturers. 

CATL, headquartered in Ningde of east China¡¯s Fujian province and listed on the Shenzhen stock exchange, supplies batteries to a wide range of domestic and global automakers. 

In July, it signed deals with BMW Group to build EV batteries for the German luxury carmaker in Germany. 

CATL¡¯s annual battery production capacity reached 23.4 GWh at the end of 2018, accounting for 41 percent of the national total, according to the China Automotive Technology and Research Center Co.

Related Stories
  • U.S. has battery problem in race for EV supremacy
  •     --Published:2019/3/5
     
  • Automotive Energy Supply targets EV makers with first China battery plant
  •     --Published:2019/16/4
     
  • BYD, worried about nickel supplies, welcomes JV talks
  •     --Published:2019/12/4
     
  • Tesla in talks with CATL for big battery order, report says
  •     --Published:2019/12/3
     
  • CATL considers big expansion for German battery plant
  •     --Published:2019/5/3
     
  • CATL, Honda cooperate on EV battery development
  •     --Published:2019/8/2
     
  • Evergrande Health takes 1.06B yuan stake in Chinese auto battery maker
  •     --Published:2019/29/1
     
  • Germany backs r&d center for EV battery technology to rival Asia producers
  •     --Published:2019/25/1
     
  • CATL plans battery cell output of 60 GWh at German plant
  •     --Published:2019/25/1
     
  • Toyota, Panasonic plan EV battery venture to challenge Chinese rivals, source says
  •     --Published:2019/22/1
     
  • LG Chem to spend $1.07B to expand battery plants in China
  •     --Published:2019/15/1
     
  • Inside the race for next-generation EV battery supremacy
  •     --Published:2019/8/1
     
  • LG, Samsung take heart as China flags more open car battery market
  •     --Published:2018/21/12
       
     
     

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     

     
     

    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
     
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    »¦ICP±¸06057291ºÅ