CATL supplies batteries for most (51%) of New Energy Vehicles in China.
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:
- Total revenues: 18.83 billion yuan ($2.733 billion), down 7.08% year-over-year
- Battery sales: 13.48 billion yuan ($1.956 billion), down 20.2% year-over-year
- Net profit: 1.94 billion yuan ($281 million), down 7.86% year-over-year
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."