China's leading EV battery maker CATL posts 48% revenue increase

[TaiShang]

China's leading EV battery maker CATL posts 48% revenue increase

Xinhua | Updated: 2019-04-26

Workers check up batteries at CATL's automatic production in Ningde, Fujian province. [Photo/Xinhua]

BEIJING - Contemporary Amperex Technology Co Ltd (CATL), China's leading lithium-ion battery and energy storage system producer, on Thursday said that it posted 48.08 percent year-on-year revenue growth in 2018.

In its annual financial results filed to the Shenzhen Stock Exchange, CATL said its revenue reached around 29.61 billion yuan ($4.42 billion) last year.

The company's net profit attributable to shareholders decreased by 12.66 percent year-on-year to about 3.39 billion yuan.

In the past year, the company's sales of energy storage system increased by 1,051.89 percent to about 189.5 million yuan and sales of lithium-ion battery reached 3.86 billion yuan, up 56.27 percent year-on-year.

With a market share of 41 percent, the company's total capacity of new energy vehicle power battery reached 23.4 GWh in 2018.

In 2018, China produced and sold 1.27 million and 1.25 million units of new energy vehicle, up 59.92 percent and 61.74 percent, respectively, according to China Automobile Industry Association.

@cirr

 

[Bengal71]

Hello Donal Duck, how is your trade war going? LOL

 

[TaiShang]

Hello Donal Duck, how is your trade war going? LOL

He is winning big with a manufacturing growing at an impressive rate of -0.1 and still managing 3.5% GDP growth.

 

[cirr]

CATL plans to invest 9.13 billion yuan in a new facility with production capacity of 100 thousand tons/year for ternary cathode materials and precursors.

 

[TaiShang]

CATL announces JV contract with FAW Group for power battery production, sales

Monika From Gasgoo| April 26 , 2019

Shanghai (Gasgoo)- China-based power battery provider Contemporary Amperex Technology Limited (CATL) announced on April 25 that it has signed a contract with the state-owned carmaker FAW Group to jointly set up a company focusing on production and sales of power batteries.

The joint venture, dubbed CATL-FAW Power Battery Co.,Ltd (CATL-FAW), has been registered at the end of January with a registered capital of RMB2 billion, according to tianyancha.com, a Chinese data search platform. CATL and FAW Group hold 51% and 49% stake in CATL-FAW with respective contribution of RMB1.02 billion and RMB980 million.

In accordance with the newly-signed agreement, the joint venture plans to start a power battery manufacturing program in Xiapu County, Ningde, Fujian. Its business scope covers the development, production and sales of lithium ion battery, power battery, energy storage battery with ultra-large capacity and battery system as well as relevant after-sale services and technology consultation.

CATL and FAW Group forged a strategic partnership as early as September 30, 2016. Last August, both parties involved in the startup BYTON's series B round financing.

Aside from FAW Group, CATL also agreed cooperation agreements with other automakers like SAIC Motor, Dongfeng Motor, GAC Group, Geely and Jiangling Motors, etc., making it the China-based power battery maker who has most joint ventures with OEMs.

CATL released on April 25 its official annual report for 2018, saying its full-year revenue surged 48.08% year on year to RMB29.611 billion, while the net profit attributable to shareholders of the listed company shrank 12.66% from the previous year to RMB3.387 billion.

http://autonews.gasgoo.com/new_energy/70015885.html

 

[Pakistan Space Agency]

... In 2018, China produced and sold 1.27 million and 1.25 million units of new energy vehicle, up 59.92 percent and 61.74 percent, respectively, according to China Automobile Industry Association.

@Hamartia Antidote, how does your brain interpret this? Is the West happy or angry with this development?

 

[Hamartia Antidote]

@Hamartia Antidote, how does your brain interpret this? Is the West happy or angry with this development?

That's pretty good. There were over 2 million New Energy vehicles sold last year and half were in China. Now all the world needs to do is to follow Tesla and switch from PHEV's to EV's.

 

[Dungeness]

That's pretty good. There were over 2 million New Energy vehicles sold last year and half were in China. Now all the world needs to do is to follow Tesla and switch from PHEV's to EV's.

Maybe it should be the other way around.

You should read this as you seem to be a Tesla investor.

This Elon Musk Comment Should Terrify Tesla Investors -- The Motley Fool