supplies batteries for most New Energy Vehicles in China.
The slower plug-in electric car sales in China, during the challenging first half of 2020, translated into lower battery sales by CATL, but the company remains profitable.
According to the firm’s latest financial report, CATL noted revenues of over USD 2.7 billion, including over USD 1.95 billion for batteries, which is 20% less than a year ago. The net profits amounted to USD 281 million, down 7.86%.
According to Moneyball, CATL's batteries can be found in 51% of all New Energy Vehicles available in China.