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CATL Records Robust Growth with 44 Percent Surge in Net Profit for 2023

Beijing, March 16, 2024, The Europe Today: Contemporary Amperex Technology Co., Ltd. (CATL), China’s premier automotive lithium-ion battery manufacturer, has reported impressive financial performance for the fiscal year 2023, with a substantial 44% increase in net profit attributable to its shareholders. According to CATL’s annual report filed to the Shenzhen Stock Exchange on Friday, the net profit soared to 44.1 billion yuan (approximately 6.21 billion U.S. dollars) during the period under review.

The battery giant also revealed that its revenue surged to 400.9 billion yuan, marking a notable 22% year-on-year growth. Moreover, CATL demonstrated a steadfast commitment to innovation by investing 18.4 billion yuan in research and development, representing an 18% increase compared to the previous year.

Renowned for its dominance in the electric vehicle (EV) battery market, CATL maintained its position as the global leader in EV battery consumption volume for the seventh consecutive year, capturing an impressive 36.8% share of the market in 2023, as reported by SNE Research. Additionally, CATL continued its reign as the top player in the global energy storage battery segment for the third consecutive year, boasting a commanding 40% share of the global market in 2023.

Headquartered in Ningde, located in east China’s Fujian Province, CATL has solidified its position as a trusted partner for leading global automotive manufacturers, having secured supply contracts with renowned brands such as BMW, Volkswagen, Daimler, and Honda.

CATL’s stellar financial performance underscores its unwavering commitment to innovation, quality, and strategic partnerships, positioning the company as a driving force in the global transition towards sustainable energy solutions. As CATL continues to push the boundaries of technological advancement and expand its global footprint, its contributions to the advancement of electric mobility and energy storage technologies remain paramount.