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Explore the latest trends and actionable insights on the Automotive Battery Technologies market to inform business strategy and pinpoint opportunities and risks

EV battery maker CATL expects profit to triple in Q3 2022

Industry: Parts and Tires
Current: ESG

CATL, a Chinese manufacturer of batteries for electric vehicles, expects its net profit in the July–September quarter of 2022 to nearly triple from a year ago period based on the rapid expansion in production to match the growth of EVs globally
The company, which is the largest manufacturer of batteries in the world, supplies more than a third of all EV batteries globally
It forecasts a substantial increase in net earnings for the first nine months of the current year over that in the same period of 2021

CATL’s Rapid Expansion in Production

Based on rapid expansion in production to match the growth of electric vehicles (EVs) globally, CATL, a Chinese company that manufactures batteries for electric vehicles (EVs), forecast its net profit in the July–September quarter of 2022 to nearly triple from a year ago period. More than a third of all EV batteries sold globally are manufactured by CATL, which is the largest manufacturer of batteries in the world. The company expects its net earnings for the first nine months of 2022 to increase significantly over that in the same period of 2021.

CATL anticipates its net earnings for the first nine months of 2022 to increase significantly over that in the same period in 2021. Backed by contracts to sell batteries to major automakers such as Mercedes Benz Group and BMW in Europe and Ford Motor Co. in the US, where government incentives are aiding the demand for EVs, CATL accelerated its entry into foreign markets. The revenue and net profit increased significantly in 2022 in comparison to that in 2021, according to GlobalData.

The market size of CATL’s battery technologies increased significantly in 2022 in comparison to that in 2021, according to GlobalData.

CATL initiated several measures such as securing long-term contracts with suppliers, recycling materials, and negotiating a dynamic battery pricing structure with automakers to mitigate the effects of increasing costs of raw materials for batteries.

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