CATL Ranks First in China Power Battery Industry in 2019

Benefitted from China's battery industry's rapid development, CATL shows an increasing growth trend. To be more precise, China battery industry has gained an operating income of CNY 449.93 billion, with a 3.8% increase rate compared with last year. CATL was ranked top among the industry with CNY 45.78 billion, a growth rate of 54.6%.

Why could China battery industry grow up quickly these years? It might be due to the power battery industry's higher concentration ratio. In 2019, there are 13 fewer power battery firms in China compared with last year. The survival of the fittest situation will further promote China's battery industry's progress. Moreover, the increase in battery export triggers power battery firms' expansions. For instance, there was a 20.4% growth in lithium-ion battery's total export amounts in 2019, about CNY 13.03 billion. 

Except for insisting on its primary business, CATL is also trying to find other new projects. There is a platform names CHN, managed by Huawei, Changan Auto and CATL, producing electric cars. This is a branding new try for CATL, which might help to extend its businesses and increase profits in the future.