CATL
{{Short description|Chinese battery manufacturer}}
{{Use American English|date=February 2023}}
{{Use dmy dates|date=February 2023}}
{{Infobox company
| name = Contemporary Amperex Technology Co., Limited
| native_name = {{lang|zh|宁德时代新能源科技股份有限公司}}
| logo = Contemporary Amperex Technology logo.svg
| image = CATL Arnstadt 2crop 2020-04.jpg
| image_caption = CATL facility in Arnstadt, Germany, one of thirteen facilities around the world.
| founder = Robin Zeng
| founded = {{start date and age|2011}}
| hq_location_city = Ningde, Fujian
| hq_location_country = China
| traded_as = {{szse|300750}}
CSI A50
{{sehk|3750}}
| key_people = {{Unbulleted list
| Robin Zeng (Chair)
}}
| industry = Electric batteries
| revenue = {{increase}} US$ 56.6 billion (2023){{cite web |title=Contemporary Amperex Technology |url=https://fortune.com/company/contemporary-amperex-technology/ |website=Fortune Global 500 |publisher=Fortune |access-date=2024-08-24 |archive-date=4 July 2024 |archive-url=https://web.archive.org/web/20240704114012/https://fortune.com/company/contemporary-amperex-technology/ |url-status=live }}
| operating_income =
| net_income = {{increase}} US$ 6.2 billion (2023)
| assets = {{increase}} US$ 101.0 billion (2023)
| website = {{Official URL}}
}}
Contemporary Amperex Technology Co., Limited (CATL) is a Chinese battery manufacturer and technology company founded in 2011 that specializes in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems (BMS).{{Cite web |title=CATL Company Profile |url=http://www.catlbattery.com/index.php/about_page-id-57.html |url-status=dead |archive-url=https://web.archive.org/web/20170225132732/http://www.catlbattery.com/index.php/about_page-id-57.html |archive-date=25 February 2017 |access-date=29 March 2017 |website=catlbattery.com}} CATL is the biggest EV and energy storage battery manufacturer in the world, with a global market share of around 37% and 40% respectively in 2023.{{Cite web |last=Kang |first=Lei |date=7 February 2024 |title=Global EV battery market share in 2023: CATL 36.8%, BYD 15.8% |url=https://cnevpost.com/2024/02/07/global-ev-battery-market-share-in-2023/ |website=CnEVPost |access-date=3 March 2024 |archive-date=3 March 2024 |archive-url=https://web.archive.org/web/20240303063350/https://cnevpost.com/2024/02/07/global-ev-battery-market-share-in-2023/ |url-status=live }}{{Cite web |date=8 February 2023 |title=Global EV battery market share in 2022: CATL 37%, BYD 13.6% |url=https://cnevpost.com/2023/02/08/global-ev-battery-market-share-2022-catl-37-byd-13-6/ |url-status=live |archive-url=https://web.archive.org/web/20230628204642/https://cnevpost.com/2023/02/08/global-ev-battery-market-share-2022-catl-37-byd-13-6/ |archive-date=28 June 2023 |access-date=3 May 2023}}{{Cite web |date=July 5, 2024 |title=How China's EV battery makers stack up in energy storage |url=https://www.reuters.com/business/autos-transportation/how-chinas-ev-battery-makers-stack-up-energy-storage-2024-07-05/|work = Reuters}} It is headquartered in Ningde, Fujian province.
History
CATL was founded in Ningde, which is reflected in its Chinese name (宁德时代 'Ningde era'). The company started as a spin-off of Amperex Technology Limited (ATL), a previous business founded by Robin Zeng in 1999. ATL initially manufactured lithium-polymer batteries based on licensed technology but later developed more reliable battery designs themselves.{{Citation needed|date=May 2023}} In 2005, ATL was acquired by Japan's TDK company, but Zeng continued as a manager for ATL. In 2011,{{Cite web |date=2019-04-03 |title=The inside story of how CATL became the world's largest electric-vehicle battery company |url=https://qz.com/1585662/how-catl-became-the-worlds-biggest-electric-car-battery-company |access-date=2024-07-15 |website=Quartz |language=en |archive-date=26 June 2024 |archive-url=https://web.archive.org/web/20240626134949/https://qz.com/1585662/how-catl-became-the-worlds-biggest-electric-car-battery-company |url-status=live }} A group of Chinese investors, led by Zeng and vice-chairman Huang Shilin, spun off the EV battery operations of ATL into the new company CATL after acquiring an 85% stake. Former parent TDK retained its 15% stake in CATL until 2015.{{Cite report |url=http://www.johnandrewferguson.com/documents/batteryking.pdf |title=CATL: China's Battery King |last1=Tyler-Dudley |first1=Davis |last2=Ferguson |first2=John |date=6 May 2021 |publisher=Harvard Business School |last3=Liu |first3=Sherry |last4=Valdez |first4=Kristopher |archive-url=https://web.archive.org/web/20230716184805/https://www.johnandrewferguson.com/documents/batteryking.pdf |archive-date=16 July 2023 |url-status=dead}} Zeng has applied management styles of TDK and Huawei to his company.
= 2011–2021=
Amid the rise of electric vehicles, CATL gradually became one of the leading battery providers in the world due to its early investments in EV battery technologies and government subsidization of the battery industry. In 2011, China required foreign automakers to transfer crucial technology to domestic companies in order to receive subsidies for electric vehicles. In 2012, CATL established cooperation with BMW Brilliance, its first main customer.{{Cite web |last=Pandaily |date=2022-05-31 |title=CATL to Supply Cylindrical Cells for BMW's New Electric Vehicles |url=https://pandaily.com/catl-to-supply-cylindrical-cells-for-bmws-new-electric-vehicles/ |access-date=2024-07-15 |website=Pandaily |language=en-US |archive-date=22 September 2023 |archive-url=https://web.archive.org/web/20230922051232/https://pandaily.com/catl-to-supply-cylindrical-cells-for-bmws-new-electric-vehicles/ |url-status=live }}{{Cite web |date=December 22, 2021 |title=Why a Chinese Company Dominates Electric Car Batteries |url=https://www.nytimes.com/2021/12/22/business/china-catl-electric-car-batteries.html|work = The New York Times}}{{Cite web |title=BMW Gains Option to Buy Stake in Battery Maker CATL - Caixin Global |url=https://www.caixinglobal.com/2018-07-18/bmw-gains-option-to-buy-stake-in-battery-maker-catl-101305833.html |access-date=2024-07-15 |website=www.caixinglobal.com |language=en |archive-date=25 December 2022 |archive-url=https://web.archive.org/web/20221225235027/https://www.caixinglobal.com/2018-07-18/bmw-gains-option-to-buy-stake-in-battery-maker-catl-101305833.html |url-status=live }} China's dominant position in the battery manufacturing supply chain, including the control over rare-earth materials, provided an ideal foundation for Chinese companies like CATL to decouple from the monopoly of Western technology. It started to provide components to the supply chains of European and American vehicle manufacturers amidst competition from Panasonic and L.G. Chemical.{{Cite web |title=US-China Trade War Recap - 中美貿易戰回顧 |url=https://keithevengroup.com/insights/five-years-of-trade-war |url-status=live |archive-url=https://web.archive.org/web/20220412180627/https://keithevengroup.com/insights/five-years-of-trade-war |archive-date=12 April 2022 |access-date=12 April 2022 |website=THE KEITH & EVEN GROUP}}
In 2016, CATL was the world's third largest provider of EV, HEV and PHEV batteries, behind Panasonic (Sanyo) and BYD.{{Cite web |date=3 October 2017 |title=World's 3rd largest battery firm may ally with VW for electric cars in China |url=https://www.greencarreports.com/news/1113014_worlds-3rd-largest-battery-firm-may-ally-with-vw-for-electric-cars-in-china |url-status=live |archive-url=https://web.archive.org/web/20210516104813/https://www.greencarreports.com/news/1113014_worlds-3rd-largest-battery-firm-may-ally-with-vw-for-electric-cars-in-china |archive-date=16 May 2021 |access-date=16 May 2021 |website=Green Car Reports}} In 2017, CATL's sales of power battery system reached 11.84GWh, taking the lead worldwide for the first time.{{Cite web |title=CATL reports YoY net profit growth of 31.4% in 2017 |url=https://autonews.gasgoo.com/Detail2020.aspx?ClassId=7&ArticleId=70014353 |url-status=live |archive-url=https://web.archive.org/web/20230327201232/https://autonews.gasgoo.com/Detail2020.aspx?ClassId=7&ArticleId=70014353 |archive-date=27 March 2023 |access-date=27 March 2023 |website=Gasgoo}}
In January 2017, CATL announced a strategic partnership with Valmet Automotive, focusing on project management, engineering and battery pack supply. CATL acquired a 22% stake in Valmet Automotive.
In June 2018, CATL went public on the Shenzhen Stock Exchange.{{Cite web |date=June 11, 2018 |title=China battery maker CATL closes limit-up on stock market debut |url=https://www.reuters.com/article/world/europe/china-battery-maker-catl-closes-limit-up-on-stock-market-debut-idUSKBN1J70A7/|work = Reuters}}
BMW announced in 2018 that it would buy €4 billion worth of batteries from CATL for use in the electric Mini and iNext vehicles. In the same year, CATL announced that it would establish a new battery factory in Arnstadt, Thuringia, Germany.{{Cite web |last=Geuss |first=Megan |date=9 July 2018 |title=Chinese firm will build battery factory in Germany to supply BMW, Volkswagen |url=https://arstechnica.com/cars/2018/07/chinese-firm-will-build-battery-factory-in-germany-to-supply-bmw-volkswagen/ |archive-url=https://web.archive.org/web/20180709191255/https://arstechnica.com/cars/2018/07/chinese-firm-will-build-battery-factory-in-germany-to-supply-bmw-volkswagen/ |archive-date=9 July 2018 |website=Ars Technica}}
In June 2020, Zeng Yuqun announced that the company had achieved a battery for electric vehicles (EVs) rated as good for 1 million miles (or 1.6 million kilometers).{{Cite web |date=7 June 2020 |title=A Million-Mile Battery From China Could Power Your Electric Car |url=https://www.bloomberg.com/news/articles/2020-06-07/a-million-mile-battery-from-china-could-power-your-electric-car |url-status=live |archive-url=https://web.archive.org/web/20200608030727/https://www.bloomberg.com/news/articles/2020-06-07/a-million-mile-battery-from-china-could-power-your-electric-car |archive-date=8 June 2020 |website=Bloomberg.com}}
In 2021 the company unveiled a sodium-ion battery for the automotive market.{{Cite web |date=29 July 2021 |title=China's CATL unveils sodium-ion battery – a first for a major car battery maker |url=https://www.reuters.com/technology/chinas-top-ev-battery-maker-catl-touts-new-sodium-ion-batteries-2021-07-29/ |url-status=live |archive-url=https://web.archive.org/web/20211107115826/https://www.reuters.com/technology/chinas-top-ev-battery-maker-catl-touts-new-sodium-ion-batteries-2021-07-29/ |archive-date=7 November 2021 |access-date=29 July 2021 |website=Reuters}} A battery recycling facility is planned to recover some of the materials.{{Cite web |last=Doll |first=Scooter |date=12 October 2021 |title=Tesla supplier CATL announces $5 billion battery recycling facility |url=https://electrek.co/2021/10/12/tesla-supplier-catl-announces-5-billion-battery-recycling-facility/ |url-status=live |archive-url=https://web.archive.org/web/20230330060556/https://electrek.co/2021/10/12/tesla-supplier-catl-announces-5-billion-battery-recycling-facility/ |archive-date=30 March 2023 |access-date=13 October 2021 |website=Electrek}} CATL continued to invest in cobalt batteries as well, and acquired a near 25% stake in the Democratic Republic of Congo's Kisanfu cobalt mine, one of the world's largest sources of cobalt.{{Cite web |date=April 11, 2021 |title=CATL takes stake in China Moly cobalt mine for $137.5 million |url=https://www.reuters.com/article/business/catl-takes-stake-in-china-moly-cobalt-mine-for-1375-million-idUSKBN2BY0BY/|work = Reuters}}
= 2022–present =
File:WEW Walenstadt Grossbatteriespeicher.jpg
In the first half, CATL ranked first in the world with a market share of 34 percent, according to SNE research.{{Cite web |title=2022 1H Global[1] EV & Battery Performance Review |url=https://www.sneresearch.com/en/insight/release_view/34/page/0 |url-status=live |archive-url=https://web.archive.org/web/20230527233511/https://www.sneresearch.com/en/insight/release_view/34/page/0 |archive-date=27 May 2023 |access-date=1 October 2022 |website=SNE research}} CATL announced plans to establish a battery factory in Debrecen, Hungary.{{Cite web |date=12 August 2022 |title=EUR 7.4 BN Battery Plant to be Built in Debrecen |url=https://hungarytoday.hu/eur-7-4-bn-battery-plant-to-be-built-in-debrecen/ |url-status=live |archive-url=https://web.archive.org/web/20220812142144/https://hungarytoday.hu/eur-7-4-bn-battery-plant-to-be-built-in-debrecen/ |archive-date=12 August 2022 |access-date=12 August 2022 |website=hungarytoday.hu}} Their Yibin manufacturing plant was certified as the world's first zero-carbon battery factory.{{Cite web |title=Yibin factory becomes the first zero-carbon factory of "Ningwang". The competition of power battery has been upgraded from production capacity to "green" supply chain._SMM {{!}} Shanghai Non ferrous Metals |url=https://news.metal.com/newscontent/101788873/Yibin-factory-becomes-the-first-zero-carbon-factory-of-%22Ningwang%22-The-competition-of-power-battery-has-been-upgraded-from-production-capacity-to-%22green%22-supply-chain/ |url-status=live |archive-url=https://web.archive.org/web/20230727024335/https://news.metal.com/newscontent/101788873/Yibin-factory-becomes-the-first-zero-carbon-factory-of-%22Ningwang%22-The-competition-of-power-battery-has-been-upgraded-from-production-capacity-to-%22green%22-supply-chain/ |archive-date=27 July 2023 |access-date=2023-07-27 |website=news.metal.com}}
In July 2022, Ford announced buying batteries from CATL for use in the Ford Mustang Mach-E and Ford F-150 Lightning models, which subsequently raised concerns with the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party. In October, CATL expanded its deal with VinFast to provide a skateboard chassis and "enhance global footprint".
On 12 August 2022, CATL announced its second European battery plant in Hungary.{{Cite web |title=China's CATL to build $7.6 bln Hungary battery plant to supply Mercedes, BMW |url=https://www.reuters.com/business/autos-transportation/chinas-catl-build-new-756-bln-battery-plant-hungary-2022-08-12/ |website=Reuters |access-date=15 July 2024 |archive-date=4 December 2023 |archive-url=https://web.archive.org/web/20231204091106/https://www.reuters.com/business/autos-transportation/chinas-catl-build-new-756-bln-battery-plant-hungary-2022-08-12/ |url-status=live }}{{Cite news |date=2022-08-12 |title=Mercedes, CATL Partner on $7.6 Billion Hungary Battery Plant |url=https://www.bloomberg.com/news/articles/2022-08-12/china-s-catl-to-invest-7-6-billion-in-hungary-battery-project |access-date=2024-07-15 |work=Bloomberg News |language=en |archive-date=17 November 2023 |archive-url=https://web.archive.org/web/20231117030419/https://www.bloomberg.com/news/articles/2022-08-12/china-s-catl-to-invest-7-6-billion-in-hungary-battery-project |url-status=live }}
In 2023, CATL received the equivalent of US$790 million in state subsidies.{{Cite news |last=Douglas |first=Jason |last2=Leong |first2=Clarence |date=August 3, 2024 |title=The U.S. Has Been Spending Billions to Revive Manufacturing. But China Is in Another League. |url=https://www.wsj.com/world/china/the-u-s-has-been-spending-billions-to-revive-manufacturing-but-china-is-in-another-league-75ed6309 |url-access=subscription |access-date=August 5, 2024 |work=The Wall Street Journal |archive-date=5 August 2024 |archive-url=https://web.archive.org/web/20240805192608/https://www.wsj.com/world/china/the-u-s-has-been-spending-billions-to-revive-manufacturing-but-china-is-in-another-league-75ed6309 |url-status=live }} The same year, CATL introduced its M3P battery, offering a 15% increase in energy density, reaching 210 Wh/kg. The battery replaces the iron in the lithium iron phosphate battery with a combination of magnesium, zinc, and aluminum.{{Cite web |last=Bleakley |first=Daniel |date=2023-03-27 |title=Tesla supplier CATL to produce M3P batteries that will deliver big boost in range for EVs |url=https://thedriven.io/2023/03/27/tesla-supplier-catl-to-produce-m3p-batteries-that-will-deliver-big-boost-in-range-for-evs/ |url-status=live |archive-url=https://web.archive.org/web/20230327201958/https://thedriven.io/2023/03/27/tesla-supplier-catl-to-produce-m3p-batteries-that-will-deliver-big-boost-in-range-for-evs/ |archive-date=27 March 2023 |access-date=2023-03-27 |website=The Driven |language=en-US |quote=The world’s largest battery manufacturer CATL is to begin production of its M3P batteries, which are 15 per cent more energy dense than LFP (Lithium iron phosphate) batteries, and will perform better and cost less than nickel and cobalt-based batteries...The increased energy density now at (210 kWh/kg) will enable EVs like the Tesla Model 3 to get a range of around 700 km with a similar sized battery pack to the existing LFP batteries CATL currently supplies Tesla.}}
Later that year, the company announced its Shenxing LFP battery.{{Cite web |last=Shahan |first=Zachary |date=2023-08-16 |title=Transformational Fast-Charging LFP Batteries — Coming Soon |url=https://cleantechnica.com/2023/08/16/transformational-fast-charging-lfp-batteries-coming-soon/ |url-status=live |archive-url=https://web.archive.org/web/20230817190345/https://cleantechnica.com/2023/08/16/transformational-fast-charging-lfp-batteries-coming-soon/ |archive-date=17 August 2023 |access-date=2023-08-17 |website=CleanTechnica |language=en-US}} The cathode of Shenxing LFP is fully nano-crystallized, which accelerates ion movement and the response to charging signals. The anode's second-generation fast ion ring technology increases intercalation channels and shortens intercalation distance. Its superconducting electrolyte formula reduces viscosity and improves conductivity. A new separator film reduces resistance. At room temperature, Shenxing can charge from 0 to 80% in 10 minutes and in just 30 minutes at -10 °C, maintains 0-100 kph performance at low temperatures. Safety is enhanced by using a safe coating for the electrolyte and the separator. A real-time fault testing system allows safe and fast refueling. Ford announced a 2,500 worker battery plant in Marshall, Michigan using CATL technology. The facility would be a Ford subsidiary. Making the batteries domestically would enable Ford customers to access federal subsidies. The project was paused after lawmakers questioned the tax subsidies.{{Cite news |last=Wayland |first=Michael |date=9 May 2023 |title=Ford to move forward with $3.5 billion EV battery plant with Chinese company |url=https://www.cnbc.com/2023/02/13/ford-ev-battery-plant-china-catl.html |url-status=live |archive-url=https://web.archive.org/web/20230826135539/https://www.cnbc.com/2023/02/13/ford-ev-battery-plant-china-catl.html |archive-date=26 August 2023 |access-date=3 August 2023 |publisher=CNBC}}{{Cite news |date=19 October 2023 |title=Chinese EV battery giant CATL reports sharp slowdown in profit growth |url=https://www.reuters.com/technology/ev-battery-firm-catls-sept-china-market-share-slumps-bodes-ill-q3-results-2023-10-19/ |url-status=live |archive-url=https://web.archive.org/web/20231023170116/https://www.reuters.com/technology/ev-battery-firm-catls-sept-china-market-share-slumps-bodes-ill-q3-results-2023-10-19/ |archive-date=23 October 2023 |access-date=24 October 2023 |work=Reuters |vauthors=Li Q, Yan Z, Goh B |veditors=Kim M, Fahmy M, Fenton S}}
In November 2023, CATL and Stellantis announced that they are considering the possibility of a joint investment in the form of a joint venture with equivalent contributions.{{Cite news |date=2023-11-21 |title=Stellantis, China's CATL in EV Battery Supply Pact for Europe |url=https://www.bloomberg.com/news/articles/2023-11-21/stellantis-china-s-catl-in-ev-battery-supply-pact-for-europe |access-date=2024-07-15 |work=Bloomberg News |language=en |archive-date=21 November 2023 |archive-url=https://web.archive.org/web/20231121190954/https://www.bloomberg.com/news/articles/2023-11-21/stellantis-china-s-catl-in-ev-battery-supply-pact-for-europe |url-status=live }}{{Cite web |title=Stellantis, CATL plan factory in Europe to make cheaper EV batteries |website=Reuters |url=https://www.reuters.com/markets/deals/stellantis-catl-sign-preliminary-deal-lfp-battery-supply-europe-consider-jv-2023-11-21/ |access-date=15 July 2024 |archive-date=15 December 2023 |archive-url=https://web.archive.org/web/20231215191810/http://www.reuters.com/markets/deals/stellantis-catl-sign-preliminary-deal-lfp-battery-supply-europe-consider-jv-2023-11-21/ |url-status=live }} File:CATL and HKSTP.jpg with HKSTP]]
On 7 December 2023, CATL and Hong Kong Science and Technology Parks Corporation (HKSTP) signed a memorandum of understanding to establish a CATL research center at the HKSTP with investment of over HKD 1.2 billion.
In 2023, the World Intellectual Property Organization (WIPO)’s Annual PCT Review ranked CATL's number of patent applications published under the PCT System as 8th in the world, with 1,799 patent applications being published during 2023.{{Cite web |title=PCT Yearly Review 2024 |url=https://www.wipo.int/edocs/pubdocs/en/wipo-pub-901-2024-en-patent-cooperation-treaty-yearly-review-2024.pdf |page=39}}
In April 2024, CATL announced Tener, a large scale stationary energy storage system. It is claimed to feature all-round safety, zero degradation over five-years and 6.25 MWh capacity per unit. It incorporates biomimetic SEI (solid electrolyte interphase) and self-assembled electrolyte technologies.{{Cite web |last=Lambert |first=Fred |date=2024-04-12 |title=CATL unveils Tesla Megapack competitor, claims zero degradation and more capacity |url=https://electrek.co/2024/04/12/catl-unveils-tesla-megapack-competitor-claims-zero-degradation-tener/ |access-date=2024-04-12 |website=Electrek |language=en-US |archive-date=13 April 2024 |archive-url=https://web.archive.org/web/20240413090337/https://electrek.co/2024/04/12/catl-unveils-tesla-megapack-competitor-claims-zero-degradation-tener/ |url-status=live }}
In August 2024, American legislators Marco Rubio and John Moolenaar asked Defense Secretary Lloyd Austin to add CATL to a list of companies prohibited from receiving U.S. military contracts.{{Cite web |last=Budryk |first=Zack |date=2024-08-29 |title=Marco Rubio, John Moolenaar ask Pentagon to blacklist Contemporary Amperex Technology |url=https://thehill.com/policy/energy-environment/4854045-chinese-manufacturer-add-pentagon-list/ |access-date=2024-08-29 |website=The Hill |language=en-US}}
As of September 2024, CATL is the top recipient of Chinese corporate subsidies, a position it has maintained since 2023.{{Cite web |date=September 26, 2024 |title=CATL reigns as China's top subsidy recipient with 35% jump in first half |url=https://asia.nikkei.com/Business/China-tech/CATL-reigns-as-China-s-top-subsidy-recipient-with-35-jump-in-first-half |website=Nikkei Asia}}{{Cite web |date=September 21, 2023 |title=China gives EV sector billions of yuan in subsidies|url=https://asia.nikkei.com/Spotlight/Electric-cars-in-China/China-gives-EV-sector-billions-of-yuan-in-subsidies |website=Nikkei Asia}}
In December 2024, CATL announced to its suppliers that it is willing to provide them with financial support to speed up the technology innovation in battery materials and equipment.{{Cite news |date=December 13, 2024 |title=China's CATL offers suppliers financial support to drive battery innovation |url=https://www.reuters.com/business/energy/chinas-catl-offers-suppliers-financial-support-drive-battery-innovation-2024-12-13/}} On 12 December 2024, it was reported that CATL will collaborate with Stellantis in a joint-venture to build a large-scale lithium iron phosphate battery plant in Zaragoza, an investment worth €4.1 billion. This 50-50 partnership, is anticipated to commence battery production in 2026 and will have a capacity reaching 50 GWh.{{Cite web |date=12 December 2024 |title=Stellantis & CATL to Build EUR4.1B LFP Battery Plant in Spain |url=https://finance.yahoo.com/news/stellantis-catl-build-eur4-1b-144300124.html |access-date=16 December 2024 |website=Yahoo}}
On 7 January 2025, the US Department of Defense added CATL and Tencent to its list of "Chinese military companies".{{Cite news |last=Martina |first=Michael |last2=Shepardson |first2=David |last3=Freifeld |first3=Karen |date=January 8, 2025 |title=US adds Tencent, CATL to list of Chinese firms allegedly aiding Beijing's military |url=https://www.reuters.com/world/us-adds-tencent-catl-list-chinese-firms-allegedly-aiding-beijings-military-2025-01-06/ |work=Reuters}}
On 11 February 2025, CATL filed for a secondary listing on the Hong Kong Stock Exchange, aiming to raise over $5 billion to fund international expansion plans including projects in Hungary, Spain, and Indonesia.{{Cite news |last=Li |first=Gloria |last2=Alim |first2=Arjun Neil |last3=Wiggins |first3=Kaye |last4=Leng |first4=Cheng |last5=Ho-him |first5=Chan |date=2025-02-11 |title=World’s largest EV battery maker CATL files for Hong Kong listing |url=https://www.ft.com/content/ed88ae58-274c-4d06-a93d-15c93ee550a3 |access-date=2025-02-12 |work=Financial Times}}{{Cite web |last=Shan |first=Lee Ying |date=2025-02-12 |title=Battery giant CATL files for Hong Kong listing in what could be city's largest IPO since 2021 |url=https://www.cnbc.com/2025/02/12/catl-files-for-hong-kong-listing-potentially-largest-ipo-since-2021.html |access-date=2025-02-12 |website=CNBC |language=en}} Cornerstone investors included Sinopec, the Kuwait Investment Authority, Hillhouse Investment, Oaktree Capital Management and an Agnelli family investment fund.{{Cite news |last=Li |first=Gloria |last2=Alim |first2=Arjun Neil |last3=Leng |first3=Cheng |date=2025-05-20 |title=China’s battery leader CATL surges on debut after biggest listing of 2025 |url=https://www.ft.com/content/cdbc7899-f1a1-4b39-ad7b-a508a6ab3d65 |access-date=2025-05-20 |work=Financial Times}}
Corporate affairs
The key trends for CATL are (as of the financial year ending 31 December):{{Cite web |title=CATL (300750.SZ) - Revenue |url=https://companiesmarketcap.com/catl/revenue/ |access-date=2025-05-08 |website=companiesmarketcap.com |language=en-US}}{{Cite web |title=CATL (300750.SZ) - Earnings |url=https://companiesmarketcap.com/catl/earnings/ |access-date=2025-05-08 |website=companiesmarketcap.com |language=en-US}}{{Cite web |title=CATL (300750.SZ) - Total assets |url=https://companiesmarketcap.com/catl/total-assets/ |access-date=2025-05-08 |website=companiesmarketcap.com |language=en-US}}
class="wikitable" style="text-align:center"
! !Revenue !EBITA !Total Assets |
2017
|3.01 |0.57 |7.63 |
2018
|4.39 |0.64 |10.74 |
2019
|6.60 |0.87 |14.51 |
2020
|7.40 |1.12 |24.05 |
2021
|20.24 |3.26 |48.28 |
2022
|48.08 |5.65 |87.13 |
2023
|56.52 |8.09 |101.45 |
2024
|50.29 |9.31 |107.78 |
Facilities
CATL operates thirteen battery manufacturing plants worldwide, namely in:{{Cite web |title=Company Profile |url=https://www.catl.com/en/about/profile/ |url-status=live |archive-url=https://web.archive.org/web/20201111103856/https://www.catl.com/en/about/profile/ |archive-date=11 November 2020 |access-date=2023-07-27 |website=www.catl.com}}
{{columns-list|colwidth=20em|
- Guiyang, China
- Jining, China
- Liyang, China
- Luoyang, China
- Ningde, China
- Nanhui New City, China
- Xiamen, China
- Xining, China
- Yibin, China
- Yichun, China
- Zhaoqing, China
- Erfurt, Germany
- Debrecen, Hungary
}}
Partnerships
File:Introduction of Ankai HFF6109G03EV15 BEV city bus.jpg with CATL batteries.]]
Due to its main competitor BYD Company prioritizing battery supply to its own vehicles, CATL was able to capture partnerships with foreign automakers. CATL's battery technology is currently used by electric vehicle manufacturers in the overseas market, and CATL collaborates with companies including BMW,{{Cite news |date=5 March 2017 |title=Electric cars: China's battle for the battery market |url=https://www.ft.com/content/8c94a2f6-fdcd-11e6-8d8e-a5e3738f9ae4 |url-status=live |archive-url=https://web.archive.org/web/20170330173301/https://www.ft.com/content/8c94a2f6-fdcd-11e6-8d8e-a5e3738f9ae4 |archive-date=30 March 2017 |access-date=29 March 2017 |work=Financial Times |language=en-GB}} Daimler AG, Hyundai,{{Cite news |title=Hyundai chooses Chinese battery supplier |url=http://asia.nikkei.com/Business/Companies/Hyundai-chooses-Chinese-battery-supplier |url-status=dead |archive-url=http://archive.wikiwix.com/cache/20170502000000/http://asia.nikkei.com/Business/Companies/Hyundai-chooses-Chinese-battery-supplier |archive-date=2 May 2017 |access-date=2 May 2017 |work=Nikkei}} Honda,{{Cite web |title=China's CATL to supply Honda with EV batteries through 2027 |url=https://asia.nikkei.com/Business/Business-deals/China-s-CATL-to-supply-Honda-with-EV-batteries-through-2027 |url-status=live |archive-url=https://web.archive.org/web/20190228225544/https://asia.nikkei.com/Business/Business-deals/China-s-CATL-to-supply-Honda-with-EV-batteries-through-2027 |archive-date=28 February 2019 |access-date=1 March 2019 |website=Nikkei Asian Review |language=en-GB}} Li Auto, NIO, PSA,{{Cite news |title=PSA chooses LG and China's CATL for batteries in future hybrid car |url=http://uk.reuters.com/article/uk-autoshow-geneva-psa-lg-chem-idUKKBN16E0YU |url-status=dead |archive-url=https://web.archive.org/web/20170307105245/http://uk.reuters.com/article/uk-autoshow-geneva-psa-lg-chem-idUKKBN16E0YU |archive-date=7 March 2017 |access-date=29 March 2017 |language=en-GB |agency=Reuters Editorial}} Tesla, Toyota, Volkswagen, Volvo and XPeng.{{Cite web |date=8 June 2020 |title=Tesla battery supplier Catl says new design has one million-mile lifespan |url=https://www.bbc.com/news/technology-52966178 |url-status=live |archive-url=https://web.archive.org/web/20200609044823/https://www.bbc.com/news/amp/technology-52966178 |archive-date=9 June 2020 |publisher=BBC}}
In China, its clients include BAIC Motor, Geely, GAC Group, Yutong Bus, Zhongtong Bus, Xiamen King Long, SAIC Motor and Foton Motor.{{Cite news |date=1 September 2016 |title=Battery Maker Helping Power China Electric Car Boom Plans IPO |url=https://www.bloomberg.com/news/articles/2016-09-01/battery-maker-helping-power-china-electric-car-boom-plans-ipo |url-status=live |archive-url=https://web.archive.org/web/20170205201925/https://www.bloomberg.com/news/articles/2016-09-01/battery-maker-helping-power-china-electric-car-boom-plans-ipo |archive-date=5 February 2017 |access-date=29 March 2017 |work=Bloomberg.com}}{{Cite news |title=Global Li-ion Power Battery Industry Report, 2017–2020 with Focus on the Chinese Market – Research and Markets |url=http://www.crossroadstoday.com/story/34708909/global-li-ion-power-battery-industry-report-2017-2020-with-focus-on-the-chinese-market-research-and-markets |access-date=29 March 2017 |language=en}}{{dead link|date=July 2019 |bot=InternetArchiveBot |fix-attempted=yes }} CATL also partners with Valmet Automotive,{{Cite web |title=Valmet Automotive and CATL form a strategic partnership in electric vehicle solutions – CATL invests in Valmet Automotive to become an important owner |url=http://www.valmet-automotive.com/automotive/bulletin.nsf/pebd/ED62F2704E469B76C22580B8002F5561 |url-status=dead |archive-url=https://web.archive.org/web/20170228065132/http://www.valmet-automotive.com/automotive/bulletin.nsf/pebd/ED62F2704E469B76C22580B8002F5561 |archive-date=28 February 2017 |access-date=29 March 2017 |website=valmet-automotive.com |language=en}}{{Cite news |last=Forsell |first=Tuomas |date=30 January 2017 |title=Chinese battery maker CATL buys stake in Finnish car supplier |url=https://www.reuters.com/article/us-valmet-automotive-m-a-catl-idUSKBN15E10U |url-status=live |archive-url=https://web.archive.org/web/20170915124208/http://www.reuters.com/article/us-valmet-automotive-m-a-catl-idUSKBN15E10U |archive-date=15 September 2017 |access-date=17 June 2017 |work=Reuters}} BMW, Ford,{{Cite news |last1=White |first1=Joseph |last2=Klayman |first2=Ben |date=21 July 2022 |title=Ford announces series of deals to accelerate EV push |url=https://www.reuters.com/business/autos-transportation/ford-announces-series-deals-accelerate-ev-push-2022-07-21/ |url-status=live |archive-url=https://web.archive.org/web/20220721231303/https://www.reuters.com/business/autos-transportation/ford-announces-series-deals-accelerate-ev-push-2022-07-21/ |archive-date=21 July 2022 |access-date=22 July 2022 |work=Reuters |language=en}}{{Cite news |last1=Swanson |first1=Ana |last2=Ewing |first2=Jack |date=2023-07-21 |title=Lawmakers Challenge Ford and Chinese Battery Partner Over Forced Labor |url=https://www.nytimes.com/2023/07/21/business/economy/ford-china-battery-catl.html |url-status=live |archive-url=https://web.archive.org/web/20230722003711/https://www.nytimes.com/2023/07/21/business/economy/ford-china-battery-catl.html |archive-date=22 July 2023 |access-date=2023-07-22 |work=The New York Times |language=en-US |issn=0362-4331}} VinFast,{{Cite news |last=Scooter Doll |first=Scooter |date=31 October 2022 |title=CATL expands deal with Vinfast to provide skateboard chassis for EVs and 'enhance global footprint' |url=https://electrek.co/2022/10/31/catl-deal-vinfast-skateboard-chassis-for-evs-enhance-global-footprint/ |url-status=live |archive-url=https://web.archive.org/web/20230326124154/https://electrek.co/2022/10/31/catl-deal-vinfast-skateboard-chassis-for-evs-enhance-global-footprint/ |archive-date=26 March 2023 |access-date=1 November 2022 |work=Electrek}} and Hong Kong Science and Technology Parks Corporation.{{Cite web |date=2023-12-08 |title=宁德时代国际研发中心落户香港 |url=https://www.stcn.com/article/detail/1059316.html |url-status=live |archive-url=https://web.archive.org/web/20231209115712/https://www.stcn.com/article/detail/1059316.html |archive-date=9 December 2023 |access-date=9 December 2023 |website=Securities Times |language=zh-cn}}
In August 2022, CATL and truck maker FAW Jiefang established a joint venture to develop battery technology (urban battery replacement station networks).{{cite web |title=Китайский автопроизводитель FAW Jiefang создал совместное предприятие с аккумуляторным гигантом CATL |url=http://russian.people.com.cn/n3/2022/0820/c31518-10137632.html |archive-url=https://web.archive.org/web/20220820100721/http://russian.people.com.cn/n3/2022/0820/c31518-10137632.html |archive-date=2022-08-20 |access-date=2022-08-20 |website=People's Daily |publisher=}}
Assessment
According to former Tesla battery supply chain manager Vivas Kumar in 2019, CATL "are seen as the leaders of lithium iron phosphate battery (LFP battery) technology". The company employs the cell-to-pack method to reduce the inactive weight of its batteries. It increases volume utilization rate by 15% to 20%, doubles the production efficiency and reduces the number of parts for a battery pack by 40%, while the energy density of a battery pack jumps from 140 to 150 Wh/Kg to 200 Wh/Kg.{{Cite web |date=30 September 2019 |title=CATL, BAIC BJEV jointly unveil the world's first cell-to-pack battery pack |url=https://autonews.gasgoo.com/m/70016402.html |url-status=live |archive-url=https://web.archive.org/web/20221224130800/https://autonews.gasgoo.com/m/70016402.html |archive-date=24 December 2022 |access-date=1 September 2022}}
According to Kumar, unlike competitors such as LG Energy Solution or SK Innovation, CATL is more willing to adapt outside technology, as opposed to applying a full in-house design.
In 2024, Tu Le of consultancy Sino Auto Insights claimed that the US was "years behind" China in batteries, and that "if the US is going to be competitive on the global stage with EVs, through 2030 they’re going to have to use Chinese batteries".{{Cite news |last=Hawkins |first=Amy |date=18 March 2024 |title=CATL, the little-known Chinese battery maker that has the US worried |url=https://www.theguardian.com/world/2024/mar/18/catl-chinese-battery-maker-evs-electric-vehicles |work=The Guardian |access-date=18 March 2024 |archive-date=7 June 2024 |archive-url=https://web.archive.org/web/20240607130608/https://www.theguardian.com/world/2024/mar/18/catl-chinese-battery-maker-evs-electric-vehicles |url-status=live }}
Security concerns
{{Further|United States sanctions against China}}
In December 2023, Duke Energy disconnected CATL batteries from Marine Corps Base Camp Lejeune due to security concerns.{{Cite news |last=Martina |first=Michael |date=2023-12-07 |title=Duke Energy disconnects CATL batteries from Marine Corps base over security concerns |url=https://www.reuters.com/world/us/duke-energy-disconnects-catl-batteries-marine-corps-base-camp-lejeune-2023-12-06/ |url-status=live |archive-url=https://web.archive.org/web/20231207180801/https://www.reuters.com/world/us/duke-energy-disconnects-catl-batteries-marine-corps-base-camp-lejeune-2023-12-06/ |archive-date=7 December 2023 |access-date=2023-12-07 |work=Reuters |language=en}}{{Cite web |date=7 December 2023 |title=China's CATL denies 'espionage threat' accusations |url=https://www.ft.com/content/64d67538-ef8c-4dd0-9dc8-f94065bda18f |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20231207181024/https://www.ft.com/content/64d67538-ef8c-4dd0-9dc8-f94065bda18f |archive-date=7 December 2023 |access-date=2023-12-07 |website=Financial Times}} CATL called accusations about its batteries posing espionage threats "false and misleading."{{Cite web |title=CATL Denies That Its Batteries Pose a Security Risk After US' Duke Energy Pulls Plug |url=https://www.yicaiglobal.com/news/catl-denies-that-its-batteries-pose-a-security-risk-after-us-duke-energy-pulls-plug |access-date=2024-07-15 |website=www.yicaiglobal.com |language=en |archive-date=15 July 2024 |archive-url=https://web.archive.org/web/20240715012007/https://www.yicaiglobal.com/news/catl-denies-that-its-batteries-pose-a-security-risk-after-us-duke-energy-pulls-plug |url-status=live }}{{Cite news |title=Chinese battery giant CATL hits back at Duke Energy disconnecting batteries |url=https://www.reuters.com/business/energy/chinese-battery-giant-catl-hits-back-duke-energy-disconnecting-batteries-2023-12-07/ |work=Reuters |access-date=15 July 2024 |archive-date=12 December 2023 |archive-url=https://web.archive.org/web/20231212105552/https://www.reuters.com/business/energy/chinese-battery-giant-catl-hits-back-duke-energy-disconnecting-batteries-2023-12-07/ |url-status=live }} The National Defense Authorization Act for Fiscal Year 2024 prohibited US defense funding for CATL products.{{Cite news |last=Singh |first=Kanishka |date=2023-12-07 |title=Key provisions of the US Congress' massive defense bill |url=https://www.reuters.com/world/us/key-provisions-us-congress-massive-defense-bill-2023-12-07/ |url-status=live |archive-url=https://web.archive.org/web/20231207203215/https://www.reuters.com/world/us/key-provisions-us-congress-massive-defense-bill-2023-12-07/ |archive-date=7 December 2023 |access-date=2023-12-07 |work=Reuters |language=en}}{{Cite news |date=January 19, 2024 |title=US to Ban Pentagon Battery Purchases From China's CATL, BYD |url=https://www.bloomberg.com/news/articles/2024-01-19/us-will-ban-pentagon-procuring-batteries-from-china-s-catl-byd |url-status=live |archive-url=https://web.archive.org/web/20240119173522/https://www.bloomberg.com/news/articles/2024-01-19/us-will-ban-pentagon-procuring-batteries-from-china-s-catl-byd |archive-date=19 January 2024 |access-date=January 20, 2024 |work=Bloomberg News}}
In June 2024, a group of U.S. lawmakers asked the United States Department of Homeland Security to add CATL to an import ban list under the Uyghur Forced Labor Prevention Act.{{Cite news |last=Vanderford |first=Richard |date=June 6, 2024 |title=Chinese Battery Suppliers Tied to Ford, VW Should Be Banned, GOP Lawmakers Say |url=https://www.wsj.com/articles/chinese-battery-suppliers-tied-to-ford-vw-should-be-banned-gop-lawmakers-say-bb12d98f |url-access=subscription |access-date=2024-06-07 |work=The Wall Street Journal |language=en-US |archive-date=7 June 2024 |archive-url=https://web.archive.org/web/20240607012216/https://www.wsj.com/articles/chinese-battery-suppliers-tied-to-ford-vw-should-be-banned-gop-lawmakers-say-bb12d98f |url-status=live }}{{Cite web |last=Huang |first=Jiahui |date=June 7, 2024 |title=CATL Shares Drop After U.S. Lawmakers Call for Import Ban |url=https://www.marketwatch.com/story/catl-shares-drop-after-u-s-lawmakers-call-for-import-ban-f9275368 |access-date=2024-06-07 |website=MarketWatch |language=en-US |archive-date=7 June 2024 |archive-url=https://web.archive.org/web/20240607130608/https://www.marketwatch.com/story/catl-shares-drop-after-u-s-lawmakers-call-for-import-ban-f9275368 |url-status=live }} CATL said in a statement that the allegations against it were "groundless and completely false" and that it was in compliance with applicable laws and regulations.{{Cite web |title=China Auto Roundup: CATL Refutes U.S. Allegations of Forced Labor, Turkey to Hike Tariffs on Chinese Vehicles |url=https://www.caixinglobal.com/2024-06-11/china-auto-roundup-catl-refutes-us-allegations-of-forced-labor-turkey-to-hike-tariffs-on-chinese-vehicles-102204936.html |access-date=2024-07-15 |website=Caixin |language=en |archive-date=13 June 2024 |archive-url=https://web.archive.org/web/20240613034400/https://www.caixinglobal.com/2024-06-11/china-auto-roundup-catl-refutes-us-allegations-of-forced-labor-turkey-to-hike-tariffs-on-chinese-vehicles-102204936.html |url-status=live }}{{Cite news |title=US lawmakers call to add China's CATL, Gotion to import ban list, WSJ reports |url=https://www.reuters.com/world/us/us-lawmakers-call-add-chinas-catl-gotion-import-ban-list-wsj-reports-2024-06-07/ |work=Reuters}} In April 2025, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party asked JPMorgan Chase and Bank of America to withdraw from working on CATL's Hong Kong IPO.{{Cite web |last=Qin |first=Sherry |date=2025-04-18 |title=U.S. House Committee Urges Two U.S. Banks to Withdraw From CATL’s Listing |url=https://www.wsj.com/business/u-s-house-committee-urges-two-u-s-banks-to-withdraw-from-catls-listing-d39b267c |url-access=subscription |access-date=2025-04-18 |website=The Wall Street Journal |language=en-US}}
See also
References
{{reflist}}
External links
{{Commons category}}
- {{Official website}}
{{Authority control}}
{{Electronics industry in China}}
{{FTSE China A50 Index}}
{{Hang Seng China 50 Index}}
{{SZSE 100 Index}}
Category:Battery manufacturers
Category:Auto parts suppliers of China
Category:Companies based in Fujian
Category:Chinese companies established in 2011
Category:Electronics companies established in 2011
Category:Electric vehicle battery manufacturers
Category:Companies in the FTSE China A50 Index