CATL, the world's largest EV battery maker, reports 44% increase in full-year net income to 44.12 billion yuan, despite slower electric-car demand.
Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest battery maker for electric vehicles, reported a 44% increase in full-year net income to 44.12 billion yuan ($6.13 billion), despite slower electric-car demand. The company's revenue for the full year reached 400.9 billion yuan, just short of estimates. CATL's success is attributed to fending off rivals and benefiting from a slump in input costs.
March 15, 2024
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