Beijing, Oct 18, 2024 (AFP) - Chinese EV battery giant CATL reports jump in profits

NAMPA / AFP

2024-10-18

Chinese electric vehicle battery behemoth CATL reported a 26.0 percent jump in third-quarter profits on Friday but still fell short of analyst expectations. Founded in 2011 in the eastern coastal Chinese city of Ningde, CATL produces more than a third of the EV batteries sold worldwide. They are used in models from a long line of foreign manufacturers including Mercedes-Benz, BMW, Volkswagen, Toyota, Honda and Hyundai. A drop in the cost of raw......

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