Chinese battery giant CATL reported record second-quarter revenue of 147.79 billion yuan and net profit of 22.5 billion yuan, up 56.92% and 36.5% year-on-year respectively. However, these figures slightly missed market estimates, attributed to weakening EV demand in China. The company also announced a plan to buy back up to 40 billion yuan in shares.
Anker Innovations, founded by former Google engineer Yang, transformed from a laptop battery maker into a global smart hardware business. Serving over 200 million users in 180+ countries, its success stems from genuine consumer value, first-principles innovation, and strategic diversification across charging, home energy, security, and audio solutions.
Robin Zeng Yuqun, chairman of CATL, the world's largest EV battery maker, stated that solid-state battery technology is only at "level four" and mass production is not expected until 2030, questioning its immediate commercial viability despite widespread hype.
South Korean battery maker SK On has dissolved its joint venture with Ford Motor Co., renaming the Tennessee plant "SK On Tennessee" and operating it independently. Ford will manage its own plants in Kentucky. This restructuring is expected to reduce SK On's debt by $3.6 billion.
Seven mobile battery manufacturers, including Elecom, and eight telecom operators, including NTT Group, announced a partnership agreement on May 19 to secure power sources for disaster-stricken areas. The system will begin operation on June 1, allowing disaster victims to more easily charge devices like smartphones.
Three major developments in China's EV sector: battery makers at Beijing Auto Show showcase sub-10-minute charging tech in race triggered by BYD and CATL; Li Auto expands to Middle East and Asia-Pacific targeting BMW and Mercedes; CATL announces landmark 60 GWh sodium-ion battery order to Beijing HyperStrong Technology over three years.
Chinese battery makers including CALB, EVE Energy and Sunwoda unveiled ultra-fast charging technology at the Beijing auto show, enabling 10-70% charges in under 10 minutes. Nio demonstrated a 3-minute battery swap, while BYD and CATL announced similar capabilities, intensifying competition to match petrol car refueling times.
Contemporary Amperex Technology Ltd (CATL) has taken a leap forward in commercialising sodium-ion batteries, signing a large supply contract with an energy-storage system (ESS) provider amid high demand for power infrastructure after the global oil shock. The world’s largest electric vehicle (EV) and ESS battery maker announced on Monday that it would deliver 60 gigawatt-hours (GWh) of sodium-ion batteries to Beijing HyperStrong Technology over three years in a landmark deal for the new battery...
Chinese battery cell manufacturers are poised to benefit from the US-Israeli war in Iran, according to Fitch Ratings, even as fierce competition, overcapacity and thin margins weigh on some downstream firms. Global demand for energy storage was set to rise, driven by high oil prices and rapidly expanding artificial intelligence (AI) data centres, said Wang Ying, a managing director at the credit rating agency. “We believe that China’s leading energy storage cell manufacturers will be the bigger...
Samsung SDI and Mercedes-Benz have signed a multi-year EV battery supply deal covering future compact and midsize models, with contract value expected to exceed €5.8bn. The Korean battery maker will provide high-performance batteries using high-nickel NCM materials for Mercedes' electric SUVs and coupe models. The companies also agreed to collaborate on next-generation battery technology development. Samsung SDI's share price rose 4.9% on Monday, while Mercedes-Benz shares fell over 2%.
