Korean media: Net profit soars by 32.9%, CATL's share in Europe reaches 43%!
On May 9, a South Korean media outlet, "Today Finance," published an article stating that the largest battery enterprise in China, Contemporary Amperex Technology Co. Limited (CATL), saw its net profit increase by 32.9% in the first quarter, continuing its positive momentum. By promoting overseas expansion, its influence abroad has been constantly growing, and its market share in Europe has increased to 43%.
Recently, CATL released its quarterly report indicating that revenue in the first quarter reached 84.7 billion yuan RMB, an increase of 6.2% year-on-year. Net profit reached 13.963 billion yuan RMB, up 32.9%.
A relevant person in charge of CATL stated that the current production line utilization rate is 100%, with both production and sales thriving, and the construction of swap stations is accelerating.
This year, the Chinese electric vehicle market continues its positive momentum. According to statistics from the China Association of Automobile Manufacturers, EV sales in the first quarter of this year reached 3.075 million units, an increase of 47.1% year-on-year, with the EV supply chain, including batteries, also continuously growing.
CATL holds a high market share not only in China but also globally. According to data from market research firm SNE Research, in the first two months of this year, CATL ranked first in the global electric vehicle battery market with a share of 38.2%. BYD ranked second with a 16.9% share, while LG Energy Solution ranked third with a 9.8% share.
In addition to Chinese EV companies, global automotive giants such as Tesla, BMW, and Volkswagen have also adopted CATL batteries, and CATL's market share in Europe has risen to 43%. This figure has increased by 8 percentage points compared to the same period last year.
In the energy storage equipment (ESS) business, CATL was selected as the ESS supplier for the RTC project being promoted in the UAE. The RTC project is one of the renewable energy projects, including a battery energy storage system with a total capacity of 19GWh and a 5.2GW solar power plant.
In addition, CATL signed a business agreement with Sinopec, China's largest refiner, and decided to build a battery swap network across various regions in China. The plan is to build at least 500 battery swap stations this year and eventually increase it to 10,000 in the long term.
Original source: https://www.toutiao.com/article/1831609348542471/
Disclaimer: The article represents the views of the author alone.