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flag CATL, the biggest EV battery maker, saw net profit rise 15% to $7.01B in 2024, despite revenue dropping.

flag CATL, the world's largest electric vehicle battery maker, reported a 15% rise in net profit to $7.01 billion in 2024, marking its slowest growth in six years due to a price war in China's EV market. flag Despite a 9.7% drop in revenue to $50 billion, CATL maintained its global battery market lead at 38%. flag The company plans to build a battery plant in Hungary and a joint plant in Spain, and it is preparing for a Hong Kong IPO expected to raise at least $5 billion.

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