CATL supplies batteries for most (51%) of 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 Chinese media, which extracted data from the latest financial report, CATL noted revenues of over $2.7 billion, including over $1.95 billion for batteries (battery cells we guess), which 20% less than a year ago. The net profits amounted to $281 million (down 7.86%).
CATL H1 2020 results:
Comparing the total revenues with profit, we are surprised to see a relatively high 10.3% net margin.
CATL supplies batteries for most of NEVs in China
According to Moneyball, CATL’s batteries can be found in 51% of all New Energy Vehicles available in China.
The government data indicates that more than 2,000 NEVs out of over 3,900 total are using CATL battery cells. That’s quite an achievement.
“#CATL supplies 51% of all #China #NEV models, local media citing company’s H1 report. CATL supplied >2K NEV models out of >3.9K models approved by MIIT for sales in China.”
Source: Read Full Article